UPS Financial News

Lilavati Hospital are in talks with private equity investors and pension funds for its proposed Rs 4,000-crore pan-India expansion plan which entails setting up five to six multispecialty hospitals over the next five years. «We will be funding the expansion through internal accruals, and are also in discussions with PE investors, pension funds and donors,» said Prashant Mehta, promoter, Lilavati Hospital. «We will retain the controlling stake,» Mehta added. He said Lilavati is looking at both greenfield and brownfield hospitals as part of its expansion strategy. The proposed expansion will be carried out by Lilavati Foundation, a distinct and separate entity from Lilavati Hospital, Mumbai. «We believe there is still a huge potential for growth of healthcare services in India,» Mehta said. The expansion will encompass 3,000 hospital beds. Lilavati is setting up a greenfield 300-bed multi-specialty hospital in GIFT City, Gujarat with an investment of Rs 300 crore. The hospital is slated to open by 2025-end. Lilavati is also considering opening hospitals in Dharamshala (Himachal Pradesh), Noida (Uttar Pradesh), Pune (Maharashtra), and Bengaluru (Karnataka) and Guwahati (Assam), Mehta said. He said they are also looking at expanding the 319-bed Lilavati Hospital & Research Centre in Bandra, Mumbai by adding a 150-bed oncology block, which might involve acquiring adjoining property.

companies undergoing business reorganisation such as amalgamation, merger or demerger, the Central Board of Direct Taxes (CBDT) has allowed them to file modified returns of income with an extended deadline. Companies undergoing business reorganisation, particularly those involved in schemes of amalgamation, merger, or demerger or succession post insolvency sanctioned by competent authorities, after June 2016 but prior to April 1, 2022, may now file modified return up to June 30, CBDT said in an order issued on Thursday. Experts said the CBDT decision underscores the government's commitment to a business-friendly ecosystem as it brings relief to companies whose reorganisation orders were issued before the implementation of the Finance Bill 2022.

ICICI Prudential Life Insurance Company has picked up 252,000 sq ft of office space in IT park Mindspace in Mumbai's Malad west suburb, for what will be its largest back-office facility, said persons with knowledge of the development. This is one of the largest office lease transactions concluded in the country so far this year. The insurance major has leased this office space — spread across four floors — for five years through a structured deal, a person cited earlier said, adding that the company will be paying a monthly rental of Rs 91.5 per sq ft for the office space. The lease agreement includes a clause to escalate rentals by 4% every year. «The new office with a capacity to accommodate 2,400 employees will be utilised by the company for expansion and relocation,» the source said. «The lease agreement was inked and registered earlier this week.» At present, the ICICI Prudential Life Insurance Company carries out its back-office operations from an office in Malad east, which has been in use for nearly a decade. This office is expected to be shifted to the new premises soon.

Mint. Increasingly, companies and brands are chasing affluent Indian consumers who are driving up sales of expensive cars, real estate and bags among others. In premium foods, too, more companies are stepping in, increasing the competitive landscape for the Biyani sisters. For instance, last year, Spencer’s Retail Ltd, an RP-Sanjiv Goenka Group subsidiary, announced its foray into upmarket grocery retail under the Nature’s Basket Artisan Pantry brand, citing demand for pricey truffle, caviar, and exotic mushrooms.

Also Read: SBI Electoral Bonds data LIVE updates According to the data, 23 companies accounted for half the total value of electoral bonds purchased since April 2019. Coimbatore-based lottery services firm Future Gaming and Hotel Services Pvt Ltd emerged as the top buyer. The list published by ECI gave details of bonds worth ₹12,155.51 crore that were purchased by over 1,300 companies in nearly five years.

Vladimir Putin on Thursday urged Russians to stay the course in the face of a «difficult period», hours before polls open in a vote set to extend his hardline rule. The former KGB agent is set to secure another six-year term this weekend in a vote the Kremlin says will show society is fully behind his assault on Ukraine.

Peak power demand in India touched 220.55 GW on March 13 as temperatures rose across the country, much higher than the 206.8 GW on the corresponding day last year. It also surpassed the 209-GW level recorded a year back in the same month. The peak demand so far in the month, is however, lower than that estimated by the power ministry at 231 GW for the ongoing month. «From next week, this demand will pick up,» a government official told ET. «March 18 onwards temperature is expected to rise which is when we expect higher peak demand,» the person said.

The returns by S&P BSE Capital Goods index in FY24 so far have been 64% versus 23% by S&P BSE Sensex.

Reserve Bank of India (RBI) that they lost hundreds of crores of rupees in currency derivatives manipulatively sold by banks, the central bank slapped the lenders with penalties in the range of Rs 5-15 lakh. That was 2011. Come 2024, when the regulator found IIFL Finance Ltd in violation of its guidelines on gold loans, it ordered the company to shutter the business, landing a debilitating blow. The shift in the magnitude of the penalty between then and now not only captures how RBI has moved from kid gloves to boxing gloves in treating regulatory breaches, but also what is in store for potential violators.

In a historic development for retirement savings, research by Capitalize reveals that for the first time, nearly three-fifths of American workers now have access to 401(k) retirement plans.

LPL has scored seven with one blow against Osaic, as a handful of advisors switch over in Minnesota.

Quiver Quantitative — In a new disclosure filed today, U.S. Representative Mark E. Green reported the sale of $15,001 — $50,000 of NGL ENERGY PARTNERS LP COMMON UNITS REPRESENTING LIMITED PARTNER INTERESTS, in a trade that took place on March 11. Since that trade was made, the stock has fallen approximately 1.02%.

critical mineral blocks which received lukewarm interest in the first round of auctions. An official statement said the blocks being reauctioned bear critical minerals such as Glauconite, Graphite, Nickel, Platinum Group Elements (PGE), Potash, Lithium, and Titanium. These seven block are spread across Bihar, Jharkhand, Tamil Nadu, Uttar Pradesh and Union Territory of Jammu and Kashmir. «Blocks which are notified under this tranche are those blocks which have received less than three bids in first tranche,» an official statement calling this the third round of bids said. The seven blocks being put up for reauction are under composite license regime which requires further exploration before extraction operations.

The parent company of the Sobeys, Safeway and FreshCo grocery chains says net earnings in its latest quarter were up 8.5 per cent to $134.2 million.

There is an interesting statistic that everyday 1500 Bitcoin wallets become millionaire wallets following the surge of Bitcoin to over $73,000. Let’s dive into why the surge happened and what other coins can secure you the millionaire status.

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NEW DELHI : Power Exchange India Ltd (PXIL), promoted by NSE and NCDEX, aims to launch its carbon-credit trading platform by the second quarter of next fiscal (FY25) year as it is already working on the technology for the product, its managing director and chief executive Satyajit Ganguly said. In an interview, Ganguly said that as the regulations for such platforms are likely to be rolled out by the second quarter, the exchange would be ready by then with its technology and also complete its educational workshops for industry participants across sectors to get them on board the platform and trade in carbon credits. "We have already started working on the technology.

₹4,000 crore or global revenue of over $30 billion, and with over 10 million end-users or 10,000 business users in India. Nine ‘core’ services have been identified, including search engines, social networks, browsers and e-commerce aggregators. The bill does not allow for bundling of services, self-preferencing, restricting third-party apps or data cross-sharing, among other mandates.

In a wide-ranging, exclusive interview with FOX Business, Treasury Secretary Janet Yellen talks about the state of the economy and Biden's new proposed budget.