New boat clubs may come up in PPP mode
The new locations identified for establishing new boat clubs are Kukshi in Dhar, Ramaua Dam in Gwalior and in Vidisha.
Another proposed boat club at Gambhir dam in Ujjain is expected to be operational before Simhastha 2028.
Sheo Shekhar Shukla, principal secretary of Tourism and Culture said, "We are creating many new boat clubs using PPP models in the state. The idea is to add more amenities and develop water activities in the state which has a lot of scenic places to develop for water activities.
This will attract tourists and generate high revenues for the govt."
Corporation runs 14 boat clubs in the state. "We have floated proposals for starting new boat clubs at around 3-4 places in the state. At Kukshi, the plan is to introduce speed boat, pedal boats and other water activities," said commander Rajendra Nigam (Retd.), Adviser Water Tourism, MPTDC.
He said that the tourism department is also planning to develop the vicinity near Gambhir Dam into a weekend getaway by improving infrastructure and setting up a boat club.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
One of the Most Successful Investors of All Time, Warren Buffett, Recommends: 5 Books for Turning...
Blinkist: Warren Buffett's Reading List
Click Here
Undo
The proposed boat club at Gambhir Dam estimated to be develop at a cost of Rs 16 crore will have electrical boats, shikaras and a mini cruise.
The tourism corporation has also proposed to establish a new boat club at Omkareshwar to further expand the range of tourist attractions in Indore region that has witnessed a remarkable surge in tourists footfall in the past two-three years mostly because of the spike in religious tourism.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Sebi reports spike in settlement pleas; 703 filed, 284 cleared in FY25
Markets regulator Sebi has seen a significant increase in settlement pleas as it received as many as 703 applications to settle violations of securities norms in 2024-25, indicating a trend towards resolving disputes without going through lengthy litigation processes. In the financial year 2023-24, the regulator had received 434 settlement pleas. Of these 703 settlement applications in FY25, the regulator disposed of 284 by passing appropriate settlement orders during the year, while another 272 applications were returned, rejected, or withdrawn, according to Sebi's 2024-25 annual report. The settlement mechanism allows entities to resolve cases with the Securities and Exchange Board of India (Sebi), without going through lengthy litigation, by paying a settlement fee and complying with certain conditions. For the 284 applications that were settled, Sebi collected ₹798.87 crore towards settlement charges, in addition to ₹64.84 crore as disgorgement charges. The settlement orders were issued for alleged violations of various regulations, including insider trading, fraudulent trading practices, Alternative Investment Funds (AIFs), mutual funds, and Foreign Portfolio Investors (FPIs), among others. Alongside settlement cases, Sebi also dealt with a number of appeals during the year. A total of 533 new appeals pertaining to the regulator were filed before the Securities Appellate Tribunal (SAT) in 2024-25, compared with 821 in the previous financial year. Out of the new appeals filed, 422 were disposed of with 308 appeals (73 per cent) dismissed, 23 appeals (5 per cent) allowed, 42 appeals (10 per cent) upheld with modification, 21 appeals (5 per cent) remanded, and 28 appeals (7 per cent) withdrawn. A majority of the disposed appeals, nearly 62 per cent, related to violations of the Prohibition of Fraudulent and Unfair Trade Practices (PFUTP) Regulations, 2003. At the same time, "difficult-to-recover" (DTR) dues climbed to Rs 77,800 crore in FY25, up from Rs 76,293 crore at the end of March 2024. These are dues that remain unrecovered despite all available recovery efforts. Sebi clarified that segregation of such DTR dues is purely an administrative act and does not prevent recovery officers from pursuing them if there is a change in the underlying parameters.
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Early monsoon, intense competition dampen paint companies' growth in Q1
The early arrival of the monsoon this year and intense competition from new market entrants with aggressive pricing adversely impacted the June quarter earnings of leading paint makers. However, the top four listed paint makers, including Asian Paints, Berger Paints, Kansai Nerolac Paints and Akzo Nobel India, reported some sequential improvement, especially from the urban market, along with improvement in sales realisation due to price rise. Moreover, as Diwali is slightly ahead compared to last year, paint manufacturers expect a better performance in August and September. Asian Paints, the largest company in the sector, said the early monsoon was a bit of a dampener, which affected some of its business. "In April and May, the demand was better, but it was strongly impacted by the early monsoon. However, I think the silver lining was that we saw some shoots of demand coming up in urban areas, which were down, and we hope that it continues as we go ahead," Asian Paints Managing Director and CEO Amit Syngle said in the earnings conference call. While terming the overall competition in the market as "intense", Syngle said, "a lot of new competition coming in, existing competition also being strong". In the decor business, the segment witnessed intense competition due to the arrival of new players, he said, adding that Asian Paints' volume growth has been decent. "We have got about 3.9 per cent volume growth over the Q1 of last year, which was also at about 7.1 per cent volume growth. When we look at the value number, the value is just about -1.2 per cent. So, just falling short of possibly hitting the base," he added. On a standalone basis, which mainly includes domestic numbers, Asian Paints' revenue from sales slipped 1.19 per cent to Rs 7,848.83 crore in the June quarter. Berger Paints recorded a 'mid-single digit' volume growth in the June quarter. The "growth was moderated by heavier than expected monsoon towards the end of May and June," said its Managing Director and CEO Abhijit Roy in the earnings call. "So, it started a bit early this time by the end of May, which was a surprise. Across many markets, it was quite intense in some parts of the a result of that, in paint, it (purchase) gets postponed." Berger Paints reported an 11 per cent decline in its consolidated net profit to Rs 315 crore for the June Quarter of FY26. However, its revenue from operations inched up 3.55 per cent to Rs 3,200.76 crore. "The decorative segment delivered mid single-digit volume growth. The volume value gap narrowed, driven by improved mix and waning impact of price, and prior price corrections," Roy said. Similarly, Kansai Nerolac also pointed out that an early onset of monsoon impacted its May sales. "Overall, monsoon in many places has caused some disturbances that have led to this temporary, I would say, stoppages, especially in the area of projects as well as some part of retail," its Managing Director Pravin Chaudhari said in the earnings conference call. The project and institutional business has done well, though "not as per our expectation because of this monsoon, which impacted the segment, and it has grown mid-single digit," he noted. However, exterior texture and waterproofing have seen good growth in the June quarter, he added. Chaudhari said rural demand is quite stable as of now, and there is a slight uptick in urban demand. However, he is still not sure whether that will continue the momentum. On the outlook, he said, "Construction activity based on whatever we saw in the month of June, we believe that Q2 should be better as far as decorative is concerned. It is also due to our Diwali being slightly ahead of time than last year. I think we will have a season. August and be better than what it was last year". Kansai Nerolac Paints reported a 4.12 per cent fall in its consolidated net profit to Rs 215.6 crore for the June quarter, while its revenue from operations increased 1.35 per cent to Rs 2,162.03 crore. Similarly, Akzo Nobel India, in which JSW Paints is acquiring a 74 per cent stake, reported a 20.6 per cent drop in consolidated net profit to Rs 91 crore in the June quarter. Its revenue from operations slipped 4 per cent to Rs 995.1 crore from Rs 1,036.3 crore in the year-ago period. The company had a "stressed quarter" due to the muted consumer sentiment and competitive intensity. Replying to a query over the sectoral competition during the earnings Webinar, Akzo Nobel India CMD Rajiv Rajgopal said the top four listed players' revenue growth is "pretty flattish". "If you take the last three, four quarters, with 52 per cent of the industry having a decline, right? So, obviously, it was a decline. But, I think things are that is what you heard from all my peers, from all my counterparts, and that is fairly indicative," said Rajgopal. "The biggest battle we were having was with the newcomer, who obviously put in a lot of volume and revenue into the market." The Indian paint industry, which is estimated to be around Rs 75,000 crore, is led by Asian Paints. Besides Berger, Kansai Nerolac, Akzo Nobel India (Dulux), Indigo Paints, Shalimar Paints, and Nippon Paints are other major brands. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
&w=3840&q=100)
Business Standard
22 minutes ago
- Business Standard
Sebi plans review of MTF margin rules to streamline risk management
Markets regulator Sebi is looking to review the margin framework under margin trading funding (MTF) in a bid to streamline risk management at clearing corporations. In its annual report for 2024-25, Sebi said a "comprehensive review exercise is being undertaken with respect to the currently applicable margining framework." Alongside this, a review of MTF and the scrips eligible under it is also under consideration. Margin trading lets investors buy shares even if they do not have the full amount. They can purchase shares by paying only part of the price, while the rest is covered through a margin deposited in cash or as shares kept as collateral. In addition to the review of margin rules, Sebi is also considering changes to the regulatory framework for angel funds. The review will focus on fundraising processes, investment conditions, and operational aspects, with the objective of facilitating ease of doing business and streamlining regulatory requirements. Angel funds play a pivotal role in channelising the capital of angel investors to startups in need of funding. Sebi has further proposed to review the classification of REITs and InvITs as hybrid instruments. This move comes in response to representations from various stakeholders, the presence of equity-like features in these instruments, the development of the market ecosystem over the last decade, and global practices. A review of the regulatory framework for mutual funds is also on the cards, aimed at ensuring that the regulations remain effective, adaptable, and aligned with the evolving market landscape. As part of this, Sebi is examining the restrictions presently prescribed for asset management companies (AMCs), after receiving feedback from the mutual funds industry, including the AMFI. In line with these efforts, Sebi intends to expand the range of permissible investment strategies under Specialised Investment Funds (SIFs). At present, SIFs allow asset management companies to offer a limited set of strategies across equity, debt, and hybrid categories. Introduced to bridge the gap between mutual funds and portfolio management services (PMS) in terms of portfolio flexibility, the SIF framework requires investors to commit at least Rs 10 lakh across all SIF strategies.
