City Mumbai Financial News

Rashtriya Janata Dal president Lalu Prasad Yadav underwent angioplasty at a hospital here, sources said on Thursday. Yadav, who was admitted in Asian Heart Institute here on September 10, underwent angioplasty on Wednesday, they said. The 76-year-old former Bihar chief minister is expected to be discharged in a day or two, the sources added. In 2014, the former Union minister, 66 at the time, had underwent a six hour long aortic valve replacement surgery at Asian Heart Institute. He had visited the hospital for follow-ups in 2018 and 2023.

Indian office market is experiencing a notable shift, with domestic companies projected to lease 60-65 million square feet of office space between 2024-2025, a significant departure from the historical dominance of global corporations, particularly those from the United States, mentioned CBRE. Domestic firms saw a substantial 60% increase in office space absorption in the last two years, compared to the pre-pandemic years of 2018-2019. These firms have accounted for nearly 47% of overall office leasing activity in the last decade, with Delhi-NCR leading the way, followed by Bengaluru and Mumbai. According to the report, cities like Bengaluru and Hyderabad saw increased occupancy by e-commerce and life sciences firms, respectively, reflecting their strong growth trajectories. Further, Mumbai emerged prominently with a 43% share of domestic BFSI leasing, bolstered by substantial contributions from Delhi-NCR and Chennai during 2018 – H1 2024.

Bharti Airtel has partnered with Italy’s international service provider Sparkle to access capacity on Blue-Raman Submarine Cable Systems connecting India and Italy. The two companies will also work together on the development of new business opportunities and projects in the Indian sub-continent, leveraging their respective cable infrastructures, Airtel said in a statement on Thursday. “We are happy to partner with Sparkle as we further consolidate our leadership in global connectivity,” Vani Venkatesh, CEO -Global Business, Airtel Business said. “This partnership will further diversify our network with large integrated capacities to meet the ever-growing connectivity needs and data demand of our customers”.

Anil Kuldip Mehta, who tragically commited suicide by jumping off the terrace of his Mumbai home on Wednesday morning. Following this, Malaika shared a heartbreaking post on Instagram addressing the incident. However, her father’s surname has caused confusion among fans, as many had believed his last name was Arora. This discrepancy sparked several questions and speculations online.

bankruptcy court Wednesday admitted Jammu and Kashmir Bank's application to initiate insolvency proceedings against Essel Infraprojects Ltd, a company promoted by media baron Subhash Chandra, over what the lender claimed was an 'established case' of default. The Mumbai bench of the National Company Law Tribunal (NCLT), while admitting the company, has also appointed Hemant J Mehta as interim resolution professional (IRP). The private-sector lender had approached the tribunal after the Essel Group entity defaulted on its dues of ₹87.43 crore. «The financial debt is due and payable by the corporate debtor (Essel Infraprojects) as on the date of filing the present company petition,» observed the division bench of judicial member Reeta Kohli and technical member Madhu Sinha in its order. «Further, there is admission of default and outstanding liability by the corporate debtor in various correspondences annexed to the company petition,» it added.

Latin America, has opened its first office in India. LIDE, who represent over 2,000 large cap member companies globally have a business network spanning 34 economic sectors.

National Real Estate Development Council (NAREDCO) has urged the government to resolve regulatory challenges that hinder real estate development in major cities like Mumbai, Chennai, and Kolkata. In bid to help resolve the issue, the developers’ body has made certain recommendations that were discussed during a recent meeting with a Joint Working Group, which included an Expert Committee led by Fali Major, NAREDCO said in a release. “The height restrictions imposed by aviation regulations have significantly constrained real estate development in urban areas. Our recommendations are designed to unlock the potential of these cities while maintaining safety standards,” said G Hari Babu, National President of NAREDCO.

IIFA 2024 pre-event in Mumbai, a heartwarming moment involving Shah Rukh Khan and South Indian actor Rana Daggubati became the highlight of the evening. During the event, Rana Daggubati walked up to the stage, greeted Shah Rukh with a warm hug, and then bent down to touch Shah Rukh Khan’s feet in a show of deep respect. He also extended the gesture to Karan Johar, who was on stage alongside Shah Rukh. Shah Rukh, visibly touched by the act, made a playful remark, saying, «This is how the new generation shows respect.» Smiling, Rana explained, «We are fully South Indian, so this is how we do it.» The candid exchange, filled with mutual admiration, left both Shah Rukh and Karan beaming, while the audience erupted in applause. Fans quickly took to social media, praising Rana's gesture. One fan commented, «South Indians are known for their deep-rooted respect and culture,» while another added, «Such a wholesome moment – SRK is the one everyone loves.»

Uber on Wednesday announced the launch of its flagship product Uber Black, starting with Mumbai next week. ET had exclusively reported on August 26 about the cab aggregator's plan to bring back its top-of-the-line product Uber Black as Indian consumers spend more for premium experiences. Under Uber Black, the company will offer a range of features, including higher-end cars and top-rated drivers.

Burma Burma plans to go public with an IPO in the next three years, co-founders Chirag Chhajer and Ankit Gupta told ET. The company is also aiming to triple its footprint before going public, they said. Last month Burma Burma (Hunger Pangs Pvt Ltd) raised $2 million in equity investment and is looking to raise another $3 million. The round is expected to see participation from existing investors Negen Capital and family offices.

IndiGo has paid the reduced penalty of Rs 70 lakh imposed by regulator BCAS on the airline in connection with the incident of passengers having food on the Mumbai airport tarmac in January this year. The Bureau of Civil Aviation Security (BCAS) had imposed a fine of Rs 1.2 crore on the airline on January 18 for the incident that happened on January 14. In a filing to the BSE on Tuesday, IndiGo said that pursuant to an appeal, BCAS reduced the penalty to Rs 70 lakh through an order dated August 12. «There is a delay in submission of the disclosure within prescribed timelines since the company was in the process of reviewing the legal remedies available against the order. Post review, the Company has paid the revised/reduced penalty amount to BCAS on September 10, 2024,» the filing said.

Sarjapura is a small town lying at the very edge of the expanding Bengaluru metropolitan sprawl. It is geographically closer to the town of Hosur than to the centre of Bengaluru. Reaching it by car from Bengaluru airport can sometimes take close to three agonizing hours.

«So, thermal; renewable; transmission; distribution with smart meters; pump storage; airports, Jewar, Navi Mumbai, these are all happening sectors,» says Vinayak Chatterjee, The Infravision Foundation. The private sector capex is not starting. We all are waiting, waiting, waiting and watching. Why is that? Vinayak Chatterjee: Actually, it is strictly not true that private sector capex is not happening. Let me outline for you the sectors where robust private sector investment is happening. So, I really do not know why you say that. Take the case of power, there is an uptick in investments by private sector in new green field as well as picking up distressed thermal coal assets and pumping more money into them.

Lollapalooza India 2025 will return with a two-day musical event on March 8 and 9, 2025. The organisers unveiled the star-studded line-up on Tuesday, featuring global headliners and rising talent. The multi-genre festival promises a diverse array of performances across four stages, spanning 20 hours.

Deepika Padukone and Ranveer Singh are now proud parents. The power couple welcomed their first child, a baby girl, on September 8. The baby received her first high-profile visitor. Mukesh Ambani, the Managing Director of Reliance Industries, dropped a visit to HN Reliance Hospital in Mumbai, where Deepika is currently admitted. As per reports, the tycoon congratulated the couple and blessed the baby. Padukone and Singh were among the guests at Mukesh’s younger son Anant’s wedding earlier this year.

Religare Enterprise takeover battle between chairperson Rashmi Saluja and the Burman family members, the Enforcement Directorate (ED) has filed a case of cheating and criminal conspiracy against Saluja and two other key management personnel of REL.

National Clean Air Programme (NCAP) have improved air quality. Impressively, 21 of these cities have cut PM10 pollution by over 40% compared to 2017-18 levels, achieving the target two years ahead of schedule. India launched NCAP in 2019 with an aim to reduce particulate pollution by 20-30% by 2024, using 2017 as the base year.

SEBI) and the country’s two stock exchanges –National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), the Supreme Court on Monday set aside a Bombay High Court order that imposed a cost of Rs 80 lakh on them for “illegally” freezing the demat accounts of two Mumbai residents Dr Pradeep Mehta and his son Neil Pradeep Mehta. Their demat accounts were erroneously frozen in 2017 as Pradeep Mehta happened to be one of the promoters of Shrenuj & Co at one point of time. Shrenuj could not file its quarterly earnings for April-June, July-September and October-December in 2016.

IPO) of Mumbai-based realty player Arkade Developers will open for subscription on September 16. The issue, which is completely a fresh equity sale of Rs 410 crore, will close on September 18. The price band for the issue will be announced soon.

New Zealand will aim to exploit Afghanistan's relative inexperience in red-ball cricket, in the one-off Test starting here from Monday, and gather momentum ahead of their upcoming World Test Championship challenges in the sub continent. New Zealand's first-ever Test against Afghanistan will kick off a challenging couple of months for the Black Caps who play six long-format matches on the bounce in the subcontinent, something they haven't done in 40 years. With their underwhelming subcontinent record in mind (40 losses in 90 matches), New Zealand would want to hit the straps straightaway.

Amit Shah on Sunday said Parsis have made silent but immense contribution to India's development, and lauded the role of Gujarati newspaper Mumbai Samachar in that journey. Speaking after releasing documentary film 'Mumbai Samachar- 200 Not Out', which chronicles the remarkable 200-year journey of Asia's oldest newspaper, Shah said the Camas, who run it, exemplify journalism of trust. «We must respect Parsi families like the Camas, who still speak Gujarati and run a newspaper in the language. I want to say to those who fight for the rights of minorities that if there is any true minority among minorities, then it is the Parsi community. Without ever struggling for rights, they have lived their lives focussing on their duties,» Shah said. Without ever making any demand, they have contributed to every field, he added. They did their duty in fields like governance, industry, Information Technology, fintech, atomic science as well as winning the war that gave birth to Bangladesh (an apparent reference to Field Marshal Sam Manekshaw), Shah added.