Ircon International secures MMRDA project worth Rs 471.29 cr
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New Indian Express
19 minutes ago
- New Indian Express
Highways dept appeals Madras HC order to demolish two pillars of Avinashi road elevated flyover project
COIMBATORE: The Madras High Court ordered the Special Projects wing of the State Highways department officials (Coimbatore division) to demolish two pillars built for the ramps of the Avinashi Road elevated flyover project. The move comes after a landowner alleged that the construction of the pillars appears to favour a private star hotel on Avinashi Road. Meanwhile, the highways department has filed an appeal against the order. Justice Bharatha Chakravarthy observed that the pillars, originally spaced 30 metres apart, had been repositioned without structural justification. The judge ordered the demolition of the relocated pillars and reconstruction at the originally-sanctioned spots, citing risk to the structural integrity of the flyover. He also imposed a personal fine of Rs 1,000 each on two senior highways engineers, and directed that the relocated pillars be marked with the Tamil Nadu Government's motto "Vaaimaiye Vellum" (Truth Alone Triumphs), and be known as the "Pillars of Truth." The 10.1 km-long, Rs 1,621.3 crore flyover project, connecting Uppilipalayam and Goldwins, is one of Tamil Nadu's largest infrastructure undertakings. Originally, the project included five pedestrian subways at high-traffic points to ensure safe crossings under the flyover, as well as service roads to maintain access to properties alongside the corridor. Kathirmathiyon, secretary of Coimbatore Consumer Cause and a member of the Coimbatore District Road Safety Committee filed a Public Interest Litigation (PIL) against the highways department for omitting key pedestrian infrastructure and a service road in the ongoing Avinashi Road elevated flyover project. The PIL, filed before the Madras High Court, flags the silent removal of five approved pedestrian subways and the dropping of a service road near a private hotel, both of which were part of the original sanctioned plans.
Economic Times
19 minutes ago
- Economic Times
GNG Electronics IPO: Allotment status out today, here's how to check online
Here's how to check GNG Electronics IPO allotment status Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The allotment status for GNG Electronics' Rs 460.43 crore IPO is expected to be announced today. With the public issue attracting overwhelming investor response across categories and subscribing 150 times overall, market participants are keen to know who will receive shares ahead of its listing on July offer had seen intense bidding from all segments. Qualified institutional buyers subscribed their portion 266.21 times, while non-institutional investors bid 226.44 times. Even in the retail category, the issue was oversubscribed 47.36 times, signalling broad-based the back of this robust participation, GNG Electronics is trading at a grey market premium of around Rs 95 per share, implying a listing pop of nearly 40% over the issue price of Rs who applied for the IPO can check their allotment status online through the registrar's portal or via the BSE 1: Through the Registrar (Bigshare Services)Visit the Bigshare IPO allotment portalSelect 'GNG Electronics' from the dropdown PAN/Application numberOption 2: Via BSE WebsiteGo to the BSE IPO Allotment PageSelect 'Equity' and then choose 'GNG Electronics'Enter your application number and PANThose allotted shares can expect them to be credited in their Demat accounts by July 29. Refunds for applicants who did not receive allotment will also be initiated on the same date. The listing of GNG Electronics shares is scheduled for July 30 on both BSE and company, which operates in the refurbished electronics segment under the Electronics Bazaar brand, offers end-to-end services from sourcing and refurbishment to sale and after-sales client base spans 38 countries, and it operates over 4,000 touchpoints globally. Backed by strong growth in revenue and profitability over the past two years, the company has positioned itself as a prominent player in the circular economy-driven tech listing is being closely tracked as a potential breakout debut in the refurbished tech hardware space.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hans India
19 minutes ago
- Hans India
Cooperative banks play a pivotal role in economy, says Sridhar Babu
Hyderabad: IT and Industries Minister D Sridhar Babu emphasised that cooperative banks in Telangana operate not for profit, but to serve community interests. He said that they follow the CARE model (Community-focused, Affordable & Accessible Credit, Relationship-based banking, Empowering Local Entrepreneurs). While formally inaugurating the Agrasen Bank's Ameerpet branch on Sunday, the Minister said that in support of this sector, the State Government has adopted the P.A.T.H. Framework: Policy Support, Access to Digital Tools, Training & Capacity Building and Hybrid Finance Ecosystems. 'This initiative promotes schemes such as self-employment loans for youth and underprivileged communities, financial linkages for women's self-help groups, and green loans,' he explained. The Minister said that there was a time when banks were merely associated with deposits and withdrawals. However, that definition has significantly evolved. 'Today, banks are leveraging technology to meet the changing needs and aspirations of customers, offering a wide range of services. Cooperative banks, in particular, have emerged as crucial institutions in the economic landscape—especially in delivering financial services to marginalized sections of society. According to the RBI Annual Report 2024, over 85 million citizens across the country now use cooperative banking services. The total deposits and advances in this sector have surpassed`5.5 lakh crore,' the Sridhar Babu highlighted. 'There are 48 Urban Cooperative Banks in Telangana, operating through 321 branches across urban and semi-urban regions. Their total business turnover for the previous financial year stood at Rs 17,000 crore, with a credit-deposit ratio of 66.7%. Branches in Kukatpally, Malakpet, and Ameerpet remain particularly active,' he added.
