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Suzlon promoters sell 1.45% stake; Lalithaa Jewellery files for IPO
Lalithaa Jewellery files for ₹1,700 cr IPO
Jewellery player Lalithaa Jewellery Mart has filed preliminary papers with markets regulator Sebi seeking its approval to raise ₹1,700 crore through an initial public offering (IPO). The Chennai-based company's proposed IPO is a combination of a fresh issue of shares worth ₹1,200 crore and an offer-for-sale of equities valued at ₹500 crore by M Kiran Kumar Jain, according to the draft red herring prospectus. The issue includes a reservation for a subscription by eligible employees, and a discount is being offered to such employees. According to the draft papers filed on Friday, proceeds from the fresh issue to the tune of ₹1,014.50 crore will be used for setting up new stores, and a portion would be utilised for general corporate purposes.
Wipro shares worth ₹5,058 crore got traded among the promoter group entities under the block deal window on Monday. Data provided by stock exchanges showed Azim Premji Trust as the seller and Hasham Traders, Prazim Traders, and Prazim Trading & Investment as the buyers. A total of 202.3 million shares were traded at ₹250 apiece.
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Keystone Realtors buys 3 Mumbai land parcels to build homes worth ₹7,700 cr
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In India, Trump's tariffs spark calls to boycott American goods, companies
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China to start work on one of world's most ambitious railway lines. Why India is watching closely
China is expected to start work on a railway line linking Hotan in Xinjiang to Shigatse in Tibet this year. The artery is likely to cross from Aksai Chin and close to the G219 national highway, near the Line of Actual Control. The disputed region has created tensions between India and China in the past. Here's why the railway line could now spur concerns in New Delhi read more Two workers walk along the Qinghai-Tibet Railway as they check the railway track in Dangxiong county of the Tibet Autonomous Region, April 20, 2007. File Photo/Reuters China will soon begin construction of a railway line that will link Xinjiang and Tibet, running close to its Line of Actual Control (LAC) with India. The ambitious project has been in development for many years. It is one of China's biggest railway projects. A section of the planned railway line is expected to go through the disputed Aksai Chin region, which is likely to raise hackles in New Delhi. Let's take a closer look. STORY CONTINUES BELOW THIS AD China's planned Xinjiang-Tibet railway line China's Xinjiang-Tibet railway line is expected to cross from Aksai Chin and close to the G219 national highway, near the Line of Actual Control. The railway line will connect Hotan in Xinjiang to Shigatse in Tibet, joining with the existing Lhasa-Shigatse line, reported the South China Morning Post (SCMP). This will form a nearly 2,000 km strategic artery that will link northwestern and southwestern China. As per reports, the first section of this line will be from Shigatse to Pakhuktso. The railway line is likely to pass through Rutog and around Pangong Lake on the Chinese side of the LAC. 'This ambitious project aims to establish a 5,000 km plateau rail framework centred on Lhasa by 2035,' Hubei-based Huayuan Securities said in a research note last week. The route will have an average elevation of more than 4,500 metres, running through the Kunlun, Karakoram, Kailash and Himalayan mountain ranges. The construction of the railway line will face challenges, as it will pass through glaciers, frozen rivers and permafrost. The ambitious project is part of Beijing's plan to connect Tibet with the rest of the country. China already has three railway lines linking Tibet: the Qinghai-Tibet line, the Lhasa-Shigatse line, and the Lhasa-Nyingchi line. A bridge of the Lhasa to Shigatse railway line crosses a river in Nyemo County, during a government-organised tour of the Tibet Autonomous Region, China, October 17, 2020. File Photo/Reuters The Lhasa-Nyingchi line goes to Tibet's southeast, and close to the border with Arunachal Pradesh. The planning for the Xinjiang-Tibet line began in 2008, when it was made a part of the revised 'Medium and Long-Term Railway Network Plan', which was approved by the National Development and Reform Commission, China's top economic planner. STORY CONTINUES BELOW THIS AD The link was to be included in a network connecting Tibet's Lhasa to the Chinese mainland, Yunnan and Chengdu to the East and Xinjiang in the West. In May 2022, survey and design tenders for the Hotan-Shigatse section were launched. The Chinese transport ministry in April 2025 said that the Xinjiang-Tibet railway line is one of the 45 major projects, where construction is expected to begin this year. ALSO READ: PM Modi to visit China: Why the trip matters amid Trump's steep tariffs on India Company set up to oversee construction China has launched a state-owned company to supervise the construction and operations of the railway line that will connect Hotan in Xinjiang and Lhasa in Tibet, SCMP reported, citing the Shanghai Securities News. The Xinjiang-Tibet Railway Company has been registered with a capital of 95 billion yuan ($13.2 billion) and is wholly owned by China State Railway Group. The new company's scope includes construction, production of railway transportation equipment, real estate development and operations. It will also develop tourist facilities, according to Economic Times. Why India would be wary of Xinjiang-Tibet line The possibility of the Xinjiang-Tibet railway line passing through Aksai Chin is concerning for India. Both countries claim the region, with China saying that it is part of Xinjiang. However, this is a false claim. China captured Aksai Chin in the 1950s and bolstered its military grip over the area during the 1962 India-China war. STORY CONTINUES BELOW THIS AD The two countries went to war at the time over the region due to the construction of G219, resulting in thousands dead on both sides. Aksai Chin remains a disputed region between India and China. General JJ Singh (retired), former chief of Army staff, wrote for The Week in 2023, 'China is very sensitive to any threat posed to its strategic artery.' Aksai Chin is a strategic artery that would help China to move its troops closer to the LAC, a big worry for India. The development comes as India and China work to improve relations after the 2020 Galwan Valley clashes near the LAC. They are holding talks to ease border tensions. With inputs from agencies
