Metro Financial News

capex loans to states so far out of the total ₹1.5 lakh crore allocated for FY25. «So far, ₹46,000 crore has been approved for sanction under the capex loan to states, out of which ₹25,000 crore has been released,» a senior government official told ET. Of the ₹95,000 crore conditional loan, ₹25,000 crore is linked to the capex performance of states. States will get half of the corresponding share only after reporting capex growth of 10% or more in FY24, and the remaining 50% after achieving a 10% growth in capex this fiscal. «This will provide an incentive for states to increase their capex,» the official said.

Bank of Baroda. Though the ICR was comfortable despite moderation, the higher base effect is likely to keep profit growth under pressure. This is distressing as profits are the main driver of the debt servicing ratio. ICR measures a company’s debt servicing capability and indicates whether the company is making enough profits to meet its interest liabilities. Moreover, the sectors that contributed significantly to top line or revenue growth in 2023-24 saw a slowdown in the June quarter. These sectors included automobiles, consumer services, airlines, industrials and cement. “The demand slowdown is a sign of worry,” states the Nuvama report.

Narendra Modi will flag off the country's first 'Vande Metro' service on Monday during his two-day visit to Gujarat, an official said. The Ahmedabad-Bhuj Vande Metro is a fully unreserved air-conditioned train for which passengers can buy tickets from the counter shortly before its departure, Western Railway (Ahmedabad division) public relations officer Pradeep Sharma said on Saturday. «It will accommodate 2,058 standing and 1,150 sitting passengers. WR carried out a trial of the service early this week,» he added. According to WR officials, the Ahmedabad-Bhuj Vande Metro service will stop at nine stations and cover the 360 kilometre distance in 5 hours and 45 minutes at a top speed of 110 kilometres per hour. It will depart from Bhuj at 5:05am and reach Ahmedabad Junction at 10:50am, they said.

HR and payroll company ADP ranked cities across the country. The rankings were based on three things that make a strong labor market: annual pay growth, new hire wages, and the hiring rate.

Delhi Metro Rail Corporation (DMRC) introduced the Multiple Journey QR Ticket (MJQRT), a digital upgrade aimed at enhancing passenger convenience by replacing daily QR tickets. Starting Friday, commuters can purchase this innovative ticket. The MJQRT is a step towards eco-friendliness and cost-effectiveness compared to traditional smart cards. «This initiative marks a significant milestone as it is the first QR-based multiple-journey product launched in India,» stated a DMRC official. Available exclusively through the DMRC's Delhi Metro Sarathi (Momentum 2.0) app, MJQRT offers a streamlined way to manage multiple journeys. Users need to register on the 2.0 app and start with a minimum amount of Rs 150, which will be used for metro travel. There is no security deposit required.

Key Advisors Wealth Management co-founder and CEO Eddie Ghabour looks ahead to the Federal Reserve’s highly anticipated rate decision on ‘Varney & Co.’

₹13,000-18,000 a month, but would prefer a quick commerce, delivery, logistics job over construction work," said Aditya Narayan Mishra, CEO of CIEL HR Services, a recruitment firm. Also read | Workforce crisis hits construction & infra firms like L&T, KEC, HCC Another factor at play is that workers do not have the skill sets that new projects demand, making them look at Israel and the Middle East for jobs.

Parisian business owners and hotel managers were promised a summer like no other

Delhi Metro Rail Corporation network making it one of the safest means of travel in Delhi and neighbouring cities, officials said on Tuesday. The statement from the DMRC comes days after the Delhi Police wrote a letter to the urban transporter to take measures to prevent security breaches and suicides on its premises. «DMRC is one of the safest means of travel in Delhi-NCR with massive cover of over 14,600 CCTVs and policing through notified police stations under the jurisdiction of Delhi Metro rail police across all its lines,» the DMRC said in the statement. «Dark spots if any, still pending, will be identified and covered. An exercise to cover such areas have already been done in the past and many new CCTVs were also installed,» it stated.

Hyperloop has achieved significant liftoff in the northern Netherlands

As an Indian, my standards are so low that my idea of exciting urban development is a Nitin Gadkari tweet. I enjoy reading the plans of the minister for road transport and highways—his great projects, how he would punish Indians who don’t follow the law (this part especially), how he hopes to replace vehicular horns with the sound of Indian musical instruments, and how very soon road travel from Chennai to Bangalore would take only two hours. I did try to point out to him on X that right now Bangalore to Bangalore is two hours.

NBFCs), BlackSoil Capital, an alternative credit provider, and Caspian Impact Investments (Debt), an impact investment lender, on Thursday announced that they have received unanimous approval from their respective Boards of Directors to merge through a share swap. This decision paves the way for creating a combined entity uniquely positioned to deliver value to various stakeholders such as clients, shareholders, lenders, investors and employees and boost operational efficiencies. After the merger is complete and regulatory approvals are received, Caspian Debt will be fully integrated into BlackSoil. This strategic amalgamation will position BlackSoil, the combined entity, as one of the largest players in the alternative credit segment it operates in.

Zomato rallied 7.6% on the BSE today, reaching an intraday high of Rs 261.50, after JPMorgan raised the stock’s target price to Rs 340 from Rs 208, while maintaining an overweight rating. JPMorgan stated that Zomato is leading rapid retail consumer transformation through convenience-focused Quick Commerce. The company is expanding its presence across all metros after successfully proving the model in NCR.

Here is a look at the revised charges from October 1. 1. Charges per quarter for not maintaining minimum average balance-SBA

Jignanshu Gor, Group Analyst, Bernstein SocGen, believes that discretionary spending is waiting to grow at the bottom of the pyramid or in the middle of the pyramid and outside of metro cities. It is not just a metro story. It is a story of the affluent, in both urban and rural India. The recovery for the discretionary from a narrative perspective is going to happen in the next 12 to 18 months, which makes him confident of the prospects of this sector itself. At a time when people are looking at staples, talking about rural recovery, monsoon, election, and all of that, you have initiated coverage on urban discretionary stocks, which were well for the last couple of years. What makes you sanguine about retail, and restaurant over staples? Jignanshu Gor: If I look at how the discretionary spending in India is construed today, the coverage for the sector across retailers, and restaurants, including digital and offline, is restricted to the top 10% of the population. We think that as the increasingly affluent people, both in the top of the pyramid and the middle of the pyramid, are looking to express themselves, that is being expressed in eating out and buying trendier clothes.

Kavach that was developed in the country will now be implemented in a mission mode, Railway Minister Ashwini Vaishnaw has said. The minister stated this in his welcome address before the flagging-off of three Vande Bharat trains by Prime Minister Narendra Modi on Saturday. Vaishnaw that India has elected the leadership of PM Modi for the third time that is decisive, visionary and forward-looking and its impact is visible in every aspect of life including in Railways. «It always lacked technology and investment and nothing changed for decades,» Vaishnaw said alleging that a technical organisation like the Railways was politicised.

Ashish Kacholia, who is known for spotting many multibagger stocks, recently took to social media after missing a flight from Bengaluru to Mumbai due to an error in Google Maps. Kacholia said that the mapping application significantly underestimated the travel time from his location in Bengaluru to Kempegowda International Airport (KIA). Kacholia was traveling from HSR Layout, a residential area in Bengaluru, to KIA, a distance of about 55 km. Google Maps, the ace investor said, initially estimated the journey would take around 1 hour and 45 minutes. However, due to Bengaluru’s infamous traffic congestion and unexpected rainfall, the trip extended to three hours, causing Kacholia to miss his flight. A social media user suggested that the ace investor should have asked him to drop him to the airport on his bike. Ashish Kacholia said in jest: «Next time.»

State Bank of India (SBI) has launched a new design for its FASTag which aims to reduce the travel time for commuters. According to a press release dated August 30, 2024, «The bank has introduced a new design for SBI FASTag in the Vehicle Class (VC-04) category. The advanced FASTag design enhances vehicle identification and toll collection efficiency aimed at reducing travel time for millions of commuters in India.»

Driven by rapid urbanisation, mushrooming of shopping malls and surge in spending, tier II-III towns have seen a significant increase in manpower demand, said Yeshab Giri, chief commercial officer, operational talent solutions, at Randstad India, a talent management company. Cities such as Jaipur, Indore, Ahmedabad, Coimbatore, Lucknow, Vadodara, Surat, Bhubaneswar, Bhopal, Chandigarh and Vizag are witnessing 25-30% more demand than the previous festive season, he said. «Currently, ecommerce and logistics firms in tier II-III cities are hiring approximately 65% of the overall talent,» said Lohit Bhatia, president, workforce management, at Quess Corp. Metros and other tier I cities traditionally see a greater spurt in festive demand, he said.

Eros Group will invest Rs 400 crore in developing phase 3 of its residential project Eros Sampoornam in Greater Noida. The company has also sold inventory worth Rs 200 crore. Spread across 21,728 square meters Eros Sampoornam 3 will have 11 towers, offering a mix of lavish 2 and 3 BHK apartments. The initial sales opened for 5 of these towers, which house 318 units out of the total 726 units across the project.

pre-IPO funding round of $665 million, quick commerce startup Zepto has secured follow-on financing of $340 million led by US-based venture capital firm General Catalyst, taking its valuation to $5 billion. New investors Dragon Fund and Epiq Capital joined the round while existing investors StepStone, Lightspeed, DST and Contrary increased their stakes.