City Pune Financial News

long-distance trains connecting Pune will face cancellations due to ongoing maintenance work in the Agra division of Indian Railways. The maintenance involves non-interlocking work for yard remodeling between Palwal-Mathura junction and is projected to conclude by the first week of February.

Small enterprises big on new firm registrations Additionally, 75% of Wholesale and Trader segment MSMEs remained bullish on consumer demand in the current calendar year. Among the Indian cities, Delhi appeared most optimistic where 87% of the surveyed MSMEs anticipated a surge in consumer spending. The survey analysed responses from nearly 3,000 MSMEs from more than 25 cities in India.

Polycab tanked 20% to the day's low of Rs 3930.55 in Thursday's trade after the Income Tax department detected «unaccounted cash sales» of about Rs 1,000 crore after it recently raided the Polycab group. «Unaccounted cash of more than Rs 4 crore was seized and more than 25 bank lockers were put on restraint after the searches were launched against the group on December 22 last year,» the Central Board of Direct Taxes (CBDT) said in a statement, according to a PTI report. It said a total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were covered. The CBDT said a large number of «incriminating» evidence in the form of documents and digital data were seized during the raids. These reveal the «modus operandi of tax evasion» adopted by the group in connivance with some of authorised distributors, it said. Also Read | Tech growth woes pose risk to Dalal Street's sizzling rally «Credible evidences recovered during the search have established that the flagship company has made unaccounted cash sales of around Rs 1,000 crore which are not recorded in the books of accounts,» the CBDT claimed. Polycab India, however, issued a clarification to stock exchanges calling the reports of «tax evasion by the company» as «rumours». «Polycab India denies any rumours of tax evasion by the Company circulating in the media,» the company filing said, adding that «The company asserts its commitment to compliance and transparency, having fully cooperated with the Income Tax Department officials during the search proceedings in Dec 2023.

NTT Corporation has fully exited its 69.14% controlling stake in Pune-based IT consulting and services firm Nihilent Ltd selling it to the founder and promoter LC Singh. While the exact deal size was not disclosed, in mid-2022, NTT was seeking a valuation for Nihilent at around Rs 2,500 crore ($314 million then).

Puravankara has reported a sales value of Rs 1,241 crore for Q3FY24, a significant surge from the Rs 796 crore noted in the corresponding quarter of the prior fiscal year. Puravankara highlighted its record customer collections in Q3 FY24, reaching Rs 941 crores, marking a 52% year-on-year increase from Rs 621 crores in Q3 FY23. Ashish Puravankara, Managing Director, Puravankara Ltd., said, “The first nine months of FY24 has seen exceptional pre-sales, marking a strong growth of 89 percent Y-o-Y growth.

Suzlon Energy Ltd on Tuesday announced the appointment of Sairam Prasad as the CEO of its wholly-owned subsidiary Suzlon Global Services Limited (SGSL). His appointment is with effect from January 16, the company said in a regulatory filing.

₹6.50, and in Pune, the egg rates have spiked up to ₹7-7.50 per piece. Last year, wholesale egg prices in Pune were at ₹6.44. How people can keep their investments less vulnerable to events in 2024 The whole prices of eggs were high in other Indian cities as well.

₹4,600 per equity share. The previous Bajaj Auto share buyback size was ₹2,500 crore done through the open market route.

Delhi-NCR has dipped from 1,23,692 units by 2022-end to approximately 94,803 units by 2023-end as it remained one of the most vibrant residential markets among the top 7 cities in 2023. Despite robust sales in the region last year, developers throttled back new supply to support the liquidation of previous unsold stock, leading to a significant reduction in market inventory. According to Anarock data, there was a 23% yearly decline in Delhi-NCR’s unsold inventory.

Elon Musk arriving in India next week to announce a Tesla manufacturing unit in Gujarat (although no official confirmation has come yet), the focus has once again shifted to ramp up the public infrastructure for electric vehicles (EVs) in the country in order to meet the ambitious 2030 goal of the government. India needs to have a robust backbone for charging infrastructure across the length and breadth of the country with considerations of traffic and population density, as it aims to break the barriers for large-scale adoption of electric vehicles. India's top nine cities, with a population of over 40 lakh each, would require 18,000 public EV charging stations by 2030, according to the recent government data.

Sharad Pawar faction leader Jitendra Awhad 'regrets' his 'lord Ram was non-vegetarian' remark The six locations include Amravati, Aurangabad, Baramati, and Pune, the sources added. The money laundering case stems from an August 2019 FIR of the Mumbai Police Economic Offences (EOW) wing.

Residential real estate sales in India were at their highest since the peak seen in 2013, witnessing a 33 percent YoY growth, with a total of 4.10 lakh units sold during calendar year 2023, according to the latest report by PropTiger.com.

Infosys cofounder NR Narayana Murthy has expressed regret over his decision to turn down his family members, especially his wife Sudha Murthy, to join the IT giant he set up over four decades ago. Calling himself “wrongly idealistic”, Murthy said in an interview to a TV channel, that his wife was “more or as qualified than all seven” engineers including himself who together established Infosys, creating one of the earliest successful startups in India post liberalisation.

shop online. After the Covid lockdowns, retailers had started shutting stores or reducing the size of stores to save on rentals.

A Pune man was recently conned of a whopping over ₹2.1 crore by cyber criminals in a well-organised fraud. 

Career enablers such as flexi-timing and remote working play a crucial role in women’s workforce participation, a study by leading diversity, equity, and inclusion (DEI) solutions company Avtar group has said. However, workplace enablers extended by employees alone cannot ensure women’s sustained employment; it requires significant investment from the city and state, as per the second edition of ‘Top Cities for Women in India (TCWI)’ index. The index ranks Chennai, Bengaluru, Pune, Mumbai, and Hyderabad as the top five cities for women in India. The scores are based on three parameters – social inclusion, industrial/workplace inclusion, and citizen experience (safety, etc).

Upgrad on Wednesday said that it has appointed former Tech Mahindra managing director and chief executive C P Gurnani to its board of directors. Gurnani's addition as an independent non-executive director increased the Mumbai-based startup’s board to seven members, cofounder Ronnie Screwvala told ET.

Social reformer. Trailblazer. Although it did not include any bloodshed or body count, the revolution led by Savitribai Phule is no less monumental than India’s struggle for Independence.

₹1,200 crore, a third person said the chain’s founding family plans to exit as well. The owners expect a valuation of around ₹2,800 crore for the company, the people said on condition of anonymity. Theobroma Foods Pvt.

Driven by policy reforms, positive consumer sentiment, rising disposable income and growing demand for bigger homes, the real estate sector in India has experienced remarkable growth in 2023, surpassing the growth rates of all previous years and breaking all records.

Shiv Sena (UBT) leader Sanjay Raut on Sunday said there is no tussle among Maha Vikas Aghadi (MVA) allies over the sharing of seats for the upcoming Lok Sabha elections. He also said there is a «good understanding» between the Uddhav Thackeray-led party and leaders of Congress in the Centre and Maharashtra. Speaking to reporters in Pune, Raut also said winnability will be the criterion in picking candidates, the remarks coming days after his «Shiv Sena (UBT) will contest 23 out of 48 Lok Sabha seats in Maharashtra» caused heartburn in Congress.