City Pune Financial News

Manisha Padhi, a 2015 batch Indian Air Force (IAF) officer, on Monday became the first woman in the country to ascend to the post of Aide-de-Camp (ADC). Mizoram Governor Hari Babu Kambhampati, on November 29, appointed Squadron Leader Padhi as the ADC from the armed forces at a brief ceremony held at the Raj Bhawan in the state capital, Aizawl. «Squadron Leader Manisha Padhi appointed as Aide-de-Camp (ADC) to the Governor of Mizoram. Squadron Leader Manisha is India's first woman Indian Armed Forces officer to be appointed as Aide-de-Camp (ADC) to the Governor of the country,» the Governor's office in Mizoram stated in an official release. Squadron Leader Padhi formally joined her post and reported to the Governor on November 29.

JSW Infrastructure said Monday that it will acquire a majority stake in PNP Maritime Services (PNP Port) from Shapoorji Pallonji (SP) Group for a cash payment of ₹270 crore. PNP Port operates multi-purpose jetties at Shahbaj, Raigad district of Maharashtra, about 20 nautical miles from Mumbai Anchorage. JSW Dharamtar Port, a wholly-owned subsidiary of JSW Infrastructure, has signed an agreement to purchase 50% of PNP Maritime Services, which is held by SP Port Maintenance, a Shapoorji Pallonji group company. The acquisition values PNP Maritime Services Port at an enterprise value of around ₹700 crore, the company said in a press statement. The 5 million tonnes per annum (MTPA) is about 20 nautical miles or 37 kilometres from Mumbai Anchorage. The company said that the PNP Port is expected to strengthen its position to provide hub-and-spoke model logistics services to its customers, which can potentially save substantial costs. JSW Infrastructure intends to upgrade the PNP Port facilities and expand its capacity from current 5 MTPA to 19 MTPA in a phased manner. «The acquisition of PNP Port is a strategic asset for JSW Infrastructure.

JSW Infrastructure will acquire controlling stake in PNP Port, a unit of Shapoorji Pallonji Group, for Rs 270 crore. The deal values PNP Port at an enterprise value of around Rs 700 crore with a current capacity of 5 million tonnes per annum (MTPA) and potential to expand to 19 MTPA. A JSW statement said that PNP Port is operating multi-purpose jetties at Shahabad in Raigad district of Maharashtra, which is about 20 nautical miles from Mumbai Anchorage.

Reserve Bank of India (RBI) has imposed monetary penalties on four co-operative banks for deficiencies in regulatory compliance. These co-operative banks are: Jijamata Mahila Sahakari Bank Ltd, Shri Laxmikrupa Urban Co-operative Bank Ltd, The Konark Urban Cooperative Bank Ltd and The Chembur Nagarik Sahakari Bank Ltd.

₹700 crore. Currently, the port has a capacity of 5 million tonnes per annum (MTPA), with potential expansion to 19 MTPA. JSW Infrastructure intends to enhance and upgrade the facilities and capacity of PNP Port from 5 MTPA to 19 MTPA in a phased manner," the company said in a statement.

Colliers-FICCI report. Flex space stock across the top six cities has almost doubled since 2019, and is currently at 43.5 mn sq ft, comprising 6.3% of the total Grade A office stock. India's flex space market has outpaced peers in the Asia Pacific region as it grew stronger and bigger post pandemic amid evolving workplace trends, increasing diversification of occupier-base and realignment of real estate portfolio by corporates. «The spurt in flex activity continued in 2023 as well, reinforcing the gradual shift in the way businesses are realigning their real estate portfolio decisions. By the end of 2023, flex space leasing is estimated to constitute an impressive 15-20% of overall office leasing and this is noteworthy.

India’s leading eight residential markets have demonstrated robust growth, with a 22% increase in sales and a 17% rise in new supply during the third quarter of the calendar year (July-September 2023), as per the latest data by PropTiger.com.

Persistent Systems has appointed four new executives to its top leadership as it aims to scale up its digital business operations after doubling its revenue to cross $1 billion revenue in March 2023. The Pune-based firm has hired former Wells Fargo executive Sumit Arora as Senior Vice President to help the firm set up and drive the Consulting practice.

Narendra Modi arrived in Dubai to attend the 28th Conference of the Parties (COP28) Summit. Upon the Prime Minister's arrival in the UAE, he received a warm welcome from the members of the Indian diaspora outside a hotel in Dubai, followed by a cultural dance performance. Videos showed diaspora members raising chants of 'Modi, Modi' , 'Abki Baar Modi Sarkar' and 'Vande Mataram.' PM Modi was also seen shaking hands with diaspora members outside the hotel.

PVR Inox expects a strong fiscal fourth quarter for cinema exhibitors, driven by a strong lineup of movie releases, following a lacklustre third quarter marred by disappointing Hindi film performances and the ICC Men's Cricket World Cup. «Q4 will be better than Q3, which is very skewed towards Animal, Salaar, and Dunki. In Q4, we will have films coming out every two weeks, and they're nicely spread out,» PVR Inox executive director Sanjeev Bijli told ET. A slew of films is set to be released between January and March, including Hrithik Roshan's Fighter, Vijay Sethupathi's Merry Christmas, and Kareena Kapoor Khan's The Buckingham Murders. While Q3 failed to meet the company's expectations, it expects an improved performance in December due to Ranbir Kapoor's Animal, Shah Rukh Khan's Dunki, Prabhas' Salaar, and Vickey Kaushal's Sam Bahadur. «Q3 was somewhat muted as October and November did get impacted by the World Cup.

luxury real estate company, has raised Rs 150 crores from Dubai-based Luxe Port Group of Companies to expand its presence and fuel growth. The company will also use the capital to upgrade technology and strengthen the leadership team. The Bengaluru-based company will build a 2.5 million sq.

₹100 crore between the first and second seasons, Tenzing Niyogi, CEO of the league told Mint. The league is now gearing up for its second season, scheduled to commence this December in Odisha. Last week, Kho Kho Sports League Private Limited, the company behind UKK, successfully concluded a Series A funding round, raising an undisclosed amount from FinNest Sport, a UK-based entity owned by Biswanath Patnaik’s BNP Venture Capital Limited.

Launch of a new beer is expected to help United Breweries share price rise 20%, said Nuvama Institutional Equities. Heineken Silver Draught Beer will be launched exclusively in premium bars and pubs across Mumbai, Thane, and Pune in Maharashtra, with plans to expand to Karnataka in the fiscal year 2024. “This launch is a meaningful expansion of United Breweries’ portfolio and shows its intent to focus on innovation," said Nuvama nstitutional Equities.

TCS: The ₹17,000 crore-share buyback programme of India’s top software services exporter Tata Consultancy Services (TCS) will open on 1 December. The buyback, where investors can sell to the company their shares at an offer price of ₹4,150 apiece, will close on 7 December, TCS said in a regulatory filing on Tuesday. The IT bellwether aims to repurchase up to 40.9 million shares (1.12% of the total equity share capital) at ₹4,150 apiece in a buyback valued at ₹17,000 crore.

Indian Army and the Air Force, learnt about each other's operational drills and tactics during this exercise, a defence release said. Brigadier S Taluja, Commander, Aundh Military Station, and Major General PGPS Rathnayaka, Sri Lankan Army, addressed the contingents during the closing ceremony.

Tata AutoComp Systems has sold a land parcel measuring over 13.26 acres in Pune’s Maan area to real estate developer Titania Industrial Development for Rs 134 crore. The company has sold the land along with around 1 lakh sq ft structure on the same. The said property falls under the industrial zone and Tata Autocomp Systems has already made an application to Pune Metropolitan Regional Development Authority (PMRDA) for change of the plot’s zone to residential. Of the total consideration, Titania Industrial Development has paid Rs 24 crore in two tranches of Rs 15 crore and Rs 9 crore on October 4 and October 6, respectively.

Mumbai Trans Harbour Link (MTHL) – the 23-km bridge connecting Sewri to Nhava Sheva – will be heavily subsidised by the Maharashtra government, a report said on November 27. The toll charge, which is yet to be announced, is likely to be subsidised by around 40-50 percent, the Times of India reported, citing persons privy to the matter.

IndiGo flight from Pune to Nagpur. Instead of finding her seat intact, she discovered that half of her seat was missing. Sagarika, who was traveling for work on flight 6E-6798 in the early hours of Sunday, was allocated seat number 10A by the airline. Upon reaching her seat, Sagarika was shocked to find the cushion missing. She immediately informed one of the cabin crew members, who simply advised her to check beneath the seat. Despite her efforts, Sagarika was unable to locate the cushion. As a result, she had to stand in the aisle, causing inconvenience to other passengers while boarding was still in progress. Eventually, a crew member provided a spare cushion from another seat. Sagarika and her husband, Subrat Patnaik, expressed their disappointment, stating that such incidents should not be expected from a reputed airline like IndiGo.

S Jaishankar on Sunday paid homage to the victims on the 15th anniversary of the 26/11 Mumbai terror attacks. Taking to his official handle on X, the External Affairs Minister said India remains committed to bringing the perpetrators of «these horrific acts» to justice. «It is 15 years today since the 26/11 Mumbai terror attacks. Our quest to bring those responsible for planning and executing these horrific acts to justice continues,» Jaishankar posted from his official handle on X, formerly Twitter. On November 26, 2008, a group of 10 heavily-armed terrorists, belonging to the Pakistan-based Lashkar-e-Taiba, unleashed a macabre dance of death in the country's commercial capital. Holding the city under siege over four days, the terrorists killed 166 civilians, including foreigners.

terrorist attacks that shook India's financial capital, Mumbai, on November 26, 2008. Commonly referred to as 26/11, these coordinated assaults by a group of 10 terrorists did mayhem on the streets of Mumbai and sent shockwaves through the nation and the world. Terrorists from the Lashkar-e-Taiba (LeT) terror group had entered the city of Mumbai on the night of November 26, 2008. Over the course of four days, they killed 166 people and injured 300. The targets were carefully chosen after being surveyed for maximum impact, viz., the Taj and Oberoi Hotels, Chhatrapati Shivaji Maharaj Terminus, the Jewish centre at Nariman House, and the Leopold Cafe, since these places were frequented by Europeans, Indians and Jews. The nine LeT terrorists were killed while Mohammad Ajmal Amir Qasab, the lone surviving Pakistterrorist from the attack at the Chhatrapati Shivaji Terminus railway station, was arrested.

Minister of External Affairs Dr S Jaishankar on Saturday batted for shaping international relations with Indian characteristics, stressing the need for devoting more time to look at India's reservoir of culture and knowledge. He was speaking in Pune during the ‘International Relations Conference on India's Strategic Culture: Addressing Global and Regional Challenges', organised by an educational institute. “The question I have is to develop an Indian strategic culture; if we are to create international relations with Indian characteristics, is it not necessary that we actually devote more time, attention, and energies to look at our reservoir of culture, knowledge, history and traditions,” he asked. The minister, who had a long diplomatic career, buttressed the point, citing his interaction with his American peers about Afghanistan years ago. “I found that even after 20 years of being in Afghanistan, so much of the American understanding about that country was moulded by what was the British narrative of Afghanistan… I actually asked them does it occur to you, have you ever thought why Peshawar is where it is? Was the Durand line actually something because the British Colonial construct was there,” he asked. Durand line is the international land border between Afghanistan and Pakistan. He said people who spent their “lifetime” in Afghanistan had never heard of a figure like Hari Singh Nalwa, the legendary Sikh warrior of Maharaja Ranjit Singh's empire. Nalwa was the commander-in-chief of the Sikh army along its border with Afghanistan. “And that tells you something.