City Mumbai Financial News

Subscribe to enjoy similar stories. MUMBAI : After delivering nearly everything—from midnight cravings to daily essentials to electronics—the IPO-bound Swiggy also hopes to make money by being a part of your dining-out experience.

Subscribe to enjoy similar stories. New Delhi: The Supreme Court of India is set to rule on the powers of the Airports Economic Regulatory Authority (AERA) to regulate tariffs for non-aeronautical services, a decision that could affect the charges that passengers pay for airport facilities and flying.

Subscribe to enjoy similar stories. "What is love of art?" says Krishen Khanna. “That I must be painting all the time." One of the founders of the Progressive Artists’ Group, the Mumbai-based artists who shaped the post-independence art scene in India, Khanna is the last surviving member of the iconic group of modernists.

Also Read: Rs 1.42 lakh for one night stay! Navi Mumbai hotel prices get hot when Coldplay is around Why are Indians shelling out so much money for a show by a band which is not even one of the most popular in the world today? While many attribute this phenomenon to the extreme FOMO (fear of missing out) sentiment in the age of social media when people like to flaunt things, it is also an indicator of India's economic situation. The frenzy for Coldplay tickets shows India's strengthening consumption story even as disposable incomes rise, the number of rich grows at a fast pace, the size of the middle class increases and a trend of premium consumption sweeps across sectors. Not just the class that clamours for Coldplay tickets, even those at the bottom of the pyramid are showing different consumption trends.

On September 17, around 9:50 am, the victim received a call from someone claiming to be from FedEx. Following the instructions, she spoke to a person named Ashwin Kumar from FedEx customer care. Kumar informed her that her Aadhaar details had been used to send a parcel with MDMA (a drug illegally manufactured) to Iran, which was intercepted by Mumbai police. She was then connected to another person, Pradeep, claiming to be a senior inspector from Mumbai cybercrime department. The executive overheard someoe telling Pradeep her Aadhaar was linked to illegal activities in Jammu & Kashmir, West Bengal, and Karnataka.

Subscribe to enjoy similar stories. It’s a conundrum of basic economics: Can prices be kept affordable when demand heavily outweighs supply? It is usually onions, fuels or rare earth metals like dysprosium that trouble us with the question, but this week, it was concert tickets that sparked outrage and stirred musings. Last Sunday, about 13 million Coldplay fans of all ages went online and joined a long queue to snag a grand total of 150,000 tickets.

Subscribe to enjoy similar stories. Mumbai: China's Tencent Holdings Ltd is set to sell its stake in Dream11 parent Sporta Technologies Ltd, two people familiar with the development said, as the gaming unicorn moves to comply with regulations on Chinese investments. Singapore-based Tiga Investment Pte Ltd will acquire Tencent's shares for over $150 million, the people cited above said on the condition of anonymity.

Subscribe to enjoy similar stories. India surpassed emerging markets peers to again solidify its status as a premier destination for foreign portfolio investors (FPIs), drawing consistent inflows despite bouts of turbulence and concerns over high valuations. Overseas buyers net invested $5.9 billion into domestic stocks this month alone so far, according to data from Bloomberg, attracted by the country’s economic fundamentals and beginning of the rate cut cycle in the US.

Subscribe to enjoy similar stories. Mumbai: To boost corporate governance practices, the capital market regulator plans to extend the mandate of setting up risk management committees (RMC), to the top 2,000 companies listed on exchanges as per their market share. This comes after the Securities and Exchange Board of India (Sebi) in 2020 mandated that the top 1,000 listed companies set up RMCs.

Subscribe to enjoy similar stories. MUMBAI : Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. A large number of traders lost their money in India’s futures & options (F&O) market, showed an analysis by the Securities and Exchange Board of India (Sebi).

Krsnaa Diagnostics on Thursday said that it has acquired a 23.53% stake in Apulki Healthcare, that operates hospitals dedicated for cancer and cardiac care under public private partnership (PPP) mode. Pune-based Krsnaa didn't disclose the financial details of the acquisition, but said it would be funded through internal accruals over the next 2-3 months. As per the terms of the contract, the company will become the exclusive diagnostics partner for Apulkis cancer and cardiac hospitals for the next 30-plus years.

HDFC Bank Ltd. has sold a housing loan portfolio of about Rs 60 billion ($717 million), seeking to further lighten its credit load amid regulatory pressures on the industry. The portfolio was sold to about half a dozen state-controlled banks through private deals, according to people familiar with the matter, who asked not to be identified as the information is not yet public. The Mumbai-based bank also unloaded another pool of car loans worth about Rs 90.6 billion, securitized in a fixed income product called pass-through certificates, the people said. The lender had been engaged in talks — reported in late August by Bloomberg — to offload the pool to about a dozen local asset management companies.

Shah Rukh Khan experienced a whirlwind of fan frenzy at Mumbai Airport early Thursday morning as he prepared to depart for the IIFA Awards 2024 in Abu Dhabi. The scene quickly escalated into chaos, capturing widespread attention on social media. Dressed in a casual black hoodie, sunglasses, and a cap, Shah Rukh was on his way to the terminal when a throng of eager fans and paparazzi surrounded him. A video of the incident has since gone viral, showcasing the overwhelming excitement and enthusiasm of the crowd. Despite being accompanied by his dedicated bodyguard Ravi and manager Pooja Dadlani, Shah Rukh appeared visibly uncomfortable as fans pushed to get closer to him. In the footage, the “King of Bollywood” is seen maintaining his composure, occasionally smiling and waving to his admirers. However, the crowd’s intensity became so great that at one point, Shah Rukh lost his balance, raising concerns for his safety. “I wear stardom like a T-shirt, not like a tuxedo,” he once said, reflecting his humble approach to fame. Yet, moments like these highlight the sometimes overwhelming nature of celebrity status.

Subscribe to enjoy similar stories. MUMBAI : Sometimes corporates are better off raising money when they can rather than when they need. Punjab National Bank Ltd (PNB), India’s second-largest public sector bank after State Bank of India Ltd (SBI) in terms of total business and deposits, seems to have followed that logic.

CBI has registered a case of alleged Rs 525-crore bank loan fraud against the promoters and directors of travel company Cox and Kings on the complaint of Yes Bank, officials said on Thursday. The CBI has taken over the investigation from the Mumbai Police that was probing the matter against the travel company, its promoters/directors Ajay Ajit Peter Kerkar and Usha Kerkar, CFO Anil Khandelwal and directors Mahalinga Narayanan and Pesi Patel. The central probe agency has registered the case on a reference from the Maharashtra government routed through the Centre against all individuals under IPC sections related to cheating, forgery and criminal misconduct in addition to provisions of the Prevention of Corruption Act.

Modi's visit to Maharashtra's Pune on Thursday has been cancelled due to heavy rainfall in the region. He was to visit the city to inaugurate the much-anticipated underground Metro corridor linking Civil Court to Swargate. He was also lay foundation stone for the extension of the metro line from Swargate to Katraj. Further, Modi lay the foundation stone for a memorial at Bhide Wada, the historic site where Mahatma Jyotiba Phule and Savitribai Phule established India's first school for girls. This initiative reflects the government's commitment to honoring significant milestones in India's educational history.

Housing demand, based on online searches, reported a 12.3% sequential rise in the September quarter amid an 8.3% increase in residential prices, according to the latest PropIndex Report by Magicbricks. Drawing on preferences from more than 20 million customers on the Magicbricks platform, the report detailed that cities such as Noida with 16.9% sequential rise, Gurugram with 15.5%, and Greater Noida with 15.1% growth saw the highest increases in residential prices in the country during this period. The report also indicated that demand for 3BHK units continues to dominate, comprising half or more of total demand in most cities, except for Chennai, Navi Mumbai, and Thane, where 2BHK units remain the preferred choice.

Subscribe to enjoy similar stories. Mumbai: Indians are delaying repayments on credit cards and personal loans, leading to a rise in delinquencies after months of bingeing on small-ticket consumption loans. The volume of credit card dues where repayments are delayed by over 90 days has increased 17 basis points (bps) year-on-year to 1.8% in June, showed data from credit bureau TransUnion Cibil.

Subscribe to enjoy similar stories. MUMBAI : Whatfix, a business-to-business digital adoption platform, is on track to achieve profitability within the next six months as it prepares for a possible public listing in two years, its co-founder and chief executive Khadim Batti said on Wednesday. The company, which helps enterprises onboard and train employees through software solutions, aims to hit a $100 million revenue run rate over the next 12 months, Batti said.

Metro Line 3 project, by Prime Minister Narendra Modi next week. This marks a significant milestone for the city's transportation system, as it will launch the Aqua Line's first phase. The 12-kilometer stretch connects Aarey Colony to Bandra Kurla Complex (BKC) and will feature 10 operational stations.

State Bank of India (SBI), ICICI Bank, pharmaceutical major Famy Care, family offices and high networth individuals (HNIs). Over Rs 300 crore of the funds raised to date have already been committed towards five projects of the Rustomjee Group in some of Mumbai's prime locations and the fund is now exercising its green shoe option with a target of a final close shortly. The identified projects for investments include projects in Bandra West’s Pali Hill and Mt Mary Road, Versova Beach in Andheri West, Dhuruvadi in Prabhadevi and one more in Pali Hill. The Versova Beach and one Pali Hill project have already secured the necessary approvals, with construction in progress and active upward sales.