City Mumbai Financial News

Mumbai, Thursday, October 4, 2024: Prime Securities Ltd. (PSL https://primesec.com/ ), a SEBI registered Category-I Merchant Banker, is expanding its reach within the financial services sector by entering the wealth management business through its wholly-owned subsidiary,Prime Trigen Wealth Ltd. (PTWL). This strategic move aims to tap into new growth opportunities with significant scalability potential.

Subscribe to enjoy similar stories. On a muggy August afternoon, the entrance to the iconic Regal theatre in Mumbai is clogged. A hand-painted poster of Ramesh Sippy’s Sholay (1975) is mounted on the scaffolding, and a crowd has gathered to watch the film.

economic welfare corporation for the state's Jain community. It was also decided to set up financial development corporations for communities like Bari, Teli, Hindu Khatik, Lonari, which are part of the OBC segment, while grants of up to Rs 10 lakh will be given to cultural and educational institutions belonging to the Buddhist community. In the cabinet meeting chaired by Chief Minister Eknath Shinde, it was decided to waive non-agricultural tax on residential buildings outside gaothans, buildings for commercial and industrial use etc. The cabinet also approved a proposal by the tourism department to enhance the jail term and fine amount for those destroying ancient and historical sites. As per the proposal, the jail term could extend up to two years and the fine would be Rs 1 lakh.

Subscribe to enjoy similar stories. How can we put seasons on a plate?" It is this question that continues to fire the menu at Naar, a 16-seater restaurant nestled in the lap of the Himalaya. Located in the hamlet of Darwa in Kasauli, Himachal Pradesh, the restaurant, helmed by chef Prateek Sadhu, is all set to complete a year in November, and has already become a dining destination.

Subscribe to enjoy similar stories. MUMBAI : There's a real buzz on the Street about nuclear power as investors are beginning to look beyond renewables for carbon-free energy sources. In the US, Microsoft Corp.

BookMyShow on Friday lodged a complaint at Vile Parle Police Station in Mumbai, accusing an unknown individual of black marketing tickets for Coldplay's much-awaited January 2025 concert at DY Patil Stadium, Navi Mumbai. The case has been registered under Section 66© of the Information Technology (IT) Act and relevant sections of the Bombay (BNS) Act, with a police investigation currently underway.

Subscribe to enjoy similar stories. Mumbai: Piramal Capital & Housing Finance Ltd (PCHFL) is expecting challenging times for non-banking finance companies (NBFCs) as bad loans build up in small ticket and microfinance loans, said Jairam Sridharan, managing director. In an interview with Mint, Sridharan said that the NBFC remains cautious about asset quality deterioration.

Subscribe to enjoy similar stories. Mumbai: Possible stress in the microfinance sector could weigh on small finance banks’ loan growth and asset quality in the short term as lenders adjust to the new market conditions over the next three-four months, according to Utkarsh Small Finance Bank MD and CEO Govind Singh. “In the short term, both the things do happen.

Paradox Museum, an Athens-based interactive entertainment company, plans to invest €5 to 10 million in opening experiential centres in four to five locations across India over the next four to five years, according to a top company executive. Satish Yadav, managing director of Paradox Museum India, said each location will require an investment of €1 to 2 million. The museum offers an immersive experience through optical illusions, featuring 55 paradox-themed exhibits and 15 immersive rooms.

Priyank Kharge on Thursday said Bengaluru was suffering an annual loss of Rs 20,000 crore because of congestion on roads. «But this is consistent across all urban cities worldwide,» the minister said after launching traffic quality index (TQI), a dashboard developed by employee commute platform MoveInSync. The index will provide an indicative score of the traffic problem in an area or in a city, the Bengaluru-based startup said. Traffic congenstion, he added, was a global issue especially in rapidly growing cities where this phenomena was cosistent. «Cognestion is not only about slow movingtraffic, but it can have serious economic and and development impact,» Kharge explained, adding that the initative is commendable bringing all stakeholder together. Currently up and running in Bengaluru, Mumbai, NCR, Hyderabad, and Chennai, the TQI is built on 15 years of data that uses artificial intelligence (AI) to enhance decongestion efforts and make commuting safer to unlock the further growth potential of businesses and livability in a region, the company said in a statement.

Subscribe to enjoy similar stories. Mumbai: The love affair of actors and real estate continues to keep the bill counters busy. According to data from integrated real estate marketplace Square Yards, superstar Amitabh Bachchan and his son Abhishek forked out nearly ₹194 crore to stock up 180,000 sq.

Subscribe to enjoy similar stories. Mumbai: The capital market regulator’s additional methods to assess credit risks in clearing corporations (CCs) will strengthen the equity derivatives segment in the long term but could increase costs in the near term, according to experts. The Securities and Exchange Board of India (Sebi) had first introduced new stress testing methodologies for determining credit exposure in CCs, including both hypothetical and historical scenarios to calculate potential losses when closing out client positions on October 16, 2023.

Subscribe to enjoy similar stories. Helios—The Watch Store, a multi-brand retailer of premium watches owned by Titan Co. Ltd, plans to launch exclusive outlets for luxury timepieces to cater to demand in the world’s fastest-growing market.

Subscribe to enjoy similar stories. Mumbai: Sterling and Wilson Renewable Energy (SWRE) chairman Khurshed Daruvala said his family is not exiting the company, and his stake sale last week was to fund another investment for settling the Sterling and Wilson Group's debt woes. Shares of the solar sector EPC (engineering, procurement and construction) firm crashed nearly 8% in the last two trading sessions after promoters Daruvala and Shapoorji Pallonji and Company Pvt.

Nariman Point, the original central business district of the country's financial capital, is set to get a major boost with the Mumbai Metro Rail Corporation (MMRCL) planning to put a prime 4.2-acre land parcel in South Mumbai on the block through a global tender. This is for the first time a land parcel in Nariman Point is being auctioned ever since its emergence as a prime downtown planned commercial zone in the early 1970s. The authority has already held initial talks with leading global and domestic entities including the Blackstone Group, Hines, Mapletree Investments, Sumitomo Corp, the Tata Group, Lodha, K Raheja Corp, Oberoi Realty, and RMZ Group, and has received a positive response from potential bidders.

BJP leader Amit Shah and Maharashtra deputy chief minister Devendra Fadnavis on Tuesday exhorted party cadres to begin work for the upcoming Assembly polls and expressed optimism that the ruling Mahayuti-BJP alliance in the state would retain power. «Bury your pessimism and start work again. Maharashtra elections will change the country's direction...,» Shah told party leaders and workers in Mumbai at a closed door event. «I am giving you my word that the BJP-Mahayuti government is coming back to power.» Shah gave the example of how at one time the BJP had just two parliamentarians, but now they are in power. The BJP was the only party in the last 60 years to come to power thrice, he said.

NCLAT) has upheld the tribunal’s order to approve the SKS Power Generation (Chattisgarh) Ltd’s acquisition by BSE-listed Sarda Energy & Minerals Ltd (SEML). The unsuccessful bidders of SKS Power Generation (Chattisgarh) including Torrent Power Ltd, Jindal Power Ltd and Vantage Point Asset Management Pte. had approached the appellate tribunal to challenge the lower tribunal’s order. “We do not find that any sufficient grounds have been made out within the meaning of Section 61(3)(ii) of the IBC to interfere with the decision of the adjudicating authority (NCLT) approving the resolution plan of Sarda, in these appeals filed by unsuccessful resolution applicant,” observed the bench preceded by Justice Ashok Bhushan and technical members Barun Mitra and Arun Baroka.

Subscribe to enjoy similar stories. New Delhi: The government is likely to allow sops for research & development and manufacturing under a new productivity-linked incentive policy for drones that is being discussed within the government, two people told Mint. The original proposal was to provide incentives for testing, R&D and manufacturing.

Subscribe to enjoy similar stories. Vijay Kedia's name is not unknown to investors in the Indian stock markets. His rise in the market is a tale of smart and strategic choices.

Subscribe to enjoy similar stories. Mumbai: The financial woes of the Shapoorji Pallonji group seem to be worsening with CARE Ratings further downgrading the credit rating of its group company Goswami Infratech Pvt Ltd in a span of 4 months. Rating on these non-convertible debentures (NCDs), issued last year, has been downgraded to Care BB- with negative outlook from Care BB, the rating agency said on 28 September.

Subscribe to enjoy similar stories. Edelweiss Financial Services Limited is preparing to list its step-down subsidiary Edelweiss Alternative Asset Advisors Limited (EAAA), which will be the first initial public offering (IPO) in the Indian private capital segment, three people informed on the matter said, requesting to remain anonymous. The IPO, which is partly aimed at reducing the parent company’s debt, is likely to be predominantly an offer for sale.