UTI Asset Management Company consolidated net profit declines 6.81% in the June 2025 quarter
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India.com
17 minutes ago
- India.com
'Fulfilled promise to avenge Pahalgam terror attack with blessings of Mahadev...': PM Modi's BIG statement on Op Sindoor
Prime Minister Narendra Modi addresses a public gathering in Varanasi, UP on Saturday. (ANI Photo) Operation Sindoor: Prime Minister Narendra Modi on Saturday said his promise to avenge the Pahalgam terror attack through Operation Sindoor was fulfilled with the blessings of Lord Shiva. 'My heart was filled with sorrow for the 26 people who lost their lives in the Pahalgam terror attack,' Modi said while addressing a public meeting in his parliamentary constituency Varanasi. 'My promise to avenge 'Sindoor' of our daughters was fulfilled with blessings of Mahadev,' he said, adding, 'I dedicate the success of Operation Sindoor at the feet of Mahadev.' The prime minister also stressed that the 'unity of 140 crore countrymen' became the 'strength of Operation Sindoor'. PM urges Indians to adopt 'swadeshi' Meanwhile, Modi also called upon citizens to adopt the spirit of 'swadeshi' and support locally-made products, stressing that true service to the nation lies in promoting indigenous goods, especially amid 'global economic uncertainties'. Addressing a public meeting in his parliamentary constituency Varanasi, Modi said, 'As we talk about economic progress, I want to draw your attention to the current global scenario. 'The world economy is facing instability and uncertainty. In such times, countries are focusing solely on their own interests. India, too, is on the path to becoming the world's third-largest economy and must remain alert to its own economic priorities.' Emphasising that farmers, small industries, and employment for youth are the top-most priorities for the government, Modi said, 'The government is doing everything possible in this direction. But as citizens, we too have responsibilities.' The prime minister's renewed push for 'swadeshi' (indigenous) comes amid the US announcing tariffs on exports from about 70 nations, including India. According to the White House order, India now faces tariffs of 25 per cent for its exports to the US. PM Modi in Varanasi The prime minister is in Varanasi — his Lok Sabha constituency for the third term running — to inaugurate and lay foundation for development projects worth over Rs 2,000 crore and to distribute the 20th installment of the PM KISAN Samman Nidhi worth Rs 20,500 crore to over 9.70 eligible farmers nationwide. (With PTI inputs)
Indian Express
17 minutes ago
- Indian Express
Mother-son duo, bank official among four booked for Rs 2.25 crore loan fraud
An FIR has been registered against a mother-son duo for allegedly creating a fake firm and, in collusion with a State Bank of India (SBI) loan officer and her husband, fraudulently availing a loan of Rs 2.25 crore from the bank, according to the police. Following an internal investigation, Julie Singh, chief manager of SBI Branch, Bypass Road, Baheri, filed a complaint. Afsana (a partner in the fictitious firm Electronic Plaza), her son Aman Hussain, SBI loan officer Sakshi Singh and her husband Shivam Agrawal were named as accused in the complaint. According to Baheri SHO Sanjay Singh Tomar, the FIR was registered on Friday and the police have initiated legal proceedings and started an investigation. The complainant stated that Afsana and Aman Hussain, residents near Madina Masjid in Bareilly, approached the SBI Baheri branch under the name Electronic Plaza, falsely claiming to have secured a dealership with a reputed company, Value Plus, to trade in electronic goods. With the alleged help of Sakshi Singh and Shivam Agrawal, they managed to get a loan of Rs 2.25 crore approved on March 29, 2024 without providing any collateral or guarantor, she added. The investigation revealed that a significant portion of the sanctioned amount, Rs 1.26 crore, was transferred to the account of Vishal Communication, a firm operated by Shivam Agrawal, at Baroda UP Gramin Bank, New Model Colony, Bareilly, on April 3, 2024 and over a crore was transferred to the same account on October 15, 2024. Upon verification, Value Plus informed the bank via email that they had not granted any dealership or agency to Electronic Plaza in Bareilly. The bank also discovered that the firm's documents were forged and that both Afsana and Aman Hussain were employees of Vishal Communication. Following a detailed internal audit and inquiry, the bank concluded that the accused had jointly committed fraud by creating false documents and misleading the bank. The complaint was lodged after verifying all available evidence, SHO Tomar said. Further investigation is underway and appropriate legal action will be taken against all those involved, the officer added.
Economic Times
17 minutes ago
- Economic Times
JSW Cement cuts IPO size to Rs 3,600 cr; public offer to open on August 7
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel JSW Cement, part of Sajjan Jindal-promoted diversified JSW Group , is set to launch its truncated Rs 3,600-crore initial public offering (IPO) on August total size of the issue, however, is lower than the earlier proposed issue of up to Rs 4,000 crore, according to the latest RHP ..The IPO will open for public subscription on August 7 and closes on August 11, while the anchor investor bidding date would be August 6 for JSW Cement, according to the Red Herring Prospectus (RHP) filed on initial share sale comprises a fresh issue of equity shares worth Rs 1,600 crore and an Offer for Sale of shares worth up to Rs 2,000 crore by investor a part of the OFS, private equity giant Apollo Management , through its affiliate AP Asia Opportunistic Holdings Pte Ltd, will be offloading shares worth Rs 931.80 crore, Synergy Metals Investments Holding Ltd will sell shares worth Rs 938.50 crore, and State Bank of India ( SBI ) will divest shares valued at Rs 129.70 Metals Investments Holding is an arm of Synergy Metals and Mining Fund, a private equity fund set up by a former executive of steelmaker ArcelorMittal, Sudhir Maheshwari, in per draft papers, the company will utilise proceeds worth Rs 800 crore to part-finance a new integrated cement unit at Nagaur, Rajasthan, and Rs 520 crore on prepayment or repayment of outstanding borrowings availed by it. The rest would be used for general corporate Mumbai-based company had earlier planned to raise Rs 4,000 crore. At the time of filing papers, JSW Cement said it intended to raise Rs 2,000 crore from a fresh issue of equity shares and an offer for sale (OFS) of Rs 2,000 crore by investor the size of the fresh capital-raising has been cut by Rs 400 crore from the fresh issue, as per the latest August 2024, JSW Cement filed preliminary IPO papers with Sebi, and later in September, the regulator kept the company's proposed initial share-sale on hold. On January 6, this year, the regulator finally gave its observation to float the of March 31, 2025, JSW Cement's total borrowings stood at Rs 6,166.6 the financial front, the company's revenue from operations for FY25 stood at Rs 5,813.1 crore against Rs 6,028.10 crore in FY24, and Rs 5,836.72 crore in company reported a loss of Rs 163.77 crore in FY25. Its profit was Rs 62 crore in FY24 and Rs 104 crore in of March 31, 2025, JSW Cement had an installed grinding capacity of 20.60 million metric tonnes per annum (MMTPA).According to the CRISIL report, JSW Cement is India's largest manufacturer of ground granulated blast furnace slag (GGBS), an eco-friendly product produced entirely from blast furnace slag (a by-product of the steel manufacturing process), with a market share in terms of GGBS sales of 84 per cent in company presently operates manufacturing operations at units based at Vijayanagar in Karnataka, Nandyal in Andhra Pradesh, Salboni in West Bengal, Jajpur in Odisha and Dolvi in Cement through its subsidiary Shiva Cement operates a clinker unit in Odisha. Axis Capital Ltd , Citigroup Global Markets India Pvt Ltd, DAM Capital Advisors Ltd , Goldman Sachs (India) Securities Pvt Ltd, Jefferies India Pvt Ltd, Kotak Mahindra Capital Company Ltd and SBI Capital Markets Ltd are responsible for managing the company's IPO company's shares will be listed on the BSE and NSE. PTI
