
Call to relax traffic regulations during Plantation Crops Show in the Nilgiris
The founder of NIFCO, Hubbathalai N. Sivan, in his letter to the Collector and the Department of Horticulture and Plantation Crops noted that the show was 'a good opportunity for the small plantation farmers and big estates to showcase their products – tea, coffee, spices etc., at the stalls of the show, which will provide a large market place and exposure of the products to domestic as well as international tourists and business communities.'
However, he stated that small farmers were worried about attendance to the event due to existing traffic regulations, which made the Mettupalayam-Coonoor-Udhagamandalam road a 'one-way' for vehicles ascending the hills during the weekends. The existing arrangements routed traffic descending from Udhagamandalam via Kotagiri Road.
'Since the show falls on the weekend days, many tourists will miss to see the event due to the existing traffic regulations. Hence, it will be a great honour if the highway is open both ways (for ascending and descending vehicles) for the visit of the tourists to the show during the above three days of the event,' said Mr. Sivan.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Mint
3 days ago
- Mint
BSE SME stock Nisus Finance jumps after Q1 results 2025. Check details
Shares of BSE SME-listed Nisus Finance Services Co. Ltd (NiFCO) gained nearly 2 percent on Thursday, August 14, hitting an intraday high of ₹ 384 after the company reported strong financial results for the quarter ended June 2025 (Q1FY26). The performance reflected sharp year-on-year growth across revenue, profit, and margins, reinforcing investor confidence in the company's strategic direction. The stock has risen 8 percent so far in August after an almost 27 percent rise in July. Before that, it was in the red for 5 straight months between February and June. It shed 14.5 percent in June, 5.75 percent in May, 3.11 percent in April, 14 percent in March, and 11.6 percent in February. Meanwhile, in January, it was flat, up 0.6 percent. In Q1FY26, Nisus Finance posted a net profit of ₹ 16.85 crore, up 103.55 percent year-on-year, while total income surged 91.49 percent to ₹ 28.72 crore. EBITDA rose 83.19 percent to ₹ 21.69 crore, with the net profit margin improving by 348 basis points to 58.68 percent. The company attributed this growth to higher business volumes across both India and UAE markets, coupled with efficient cost management. During the quarter, NiFCO strengthened its first-mover advantage as India's first listed AIF manager, enhancing governance standards and market access. The RESO-1 fund continued to focus on special situations in the real estate sector, particularly complex self-redevelopment projects delivering 21 percent returns. Leveraging its GIFT City structure—among the first licensed for Overseas Portfolio Investment—the company offered Indian investors compliant access to global opportunities. Additionally, its Dubai entity remains the only Indian-promoted fund to secure global lender leverage. NiFCO also advanced its asset tokenization initiatives through a partnership with Toyow, opening up new liquidity channels and expanding institutional investment reach. The company deployed ₹ 24 crore towards fund setup and fundraising expenses, to be amortized over the fund's life. Increased UAE income also lowered the effective tax rate, boosting PAT margin to 59 percent. Amit Goenka, Chairman & Managing Director, said this was the company's strongest first quarter ever, with revenue and profitability seeing substantial year-on-year gains. He highlighted balanced growth between fund management and advisory businesses, alongside strategic investments in urban redevelopment, plans to acquire a leading construction platform, and global partnerships in asset tokenization. 'This has been our strongest first quarter ever, with revenue growing over 91 percent year on year and profitability more than doubling. We have seen strong momentum in both India and the UAE with a good balance between our fund management and advisory businesses. Our operating costs have stayed in line with our expansion plans, which has allowed us to scale efficiently,' Goenka said. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

The Hindu
30-05-2025
- The Hindu
CM to inaugurate regional-level agricultural exhibition near Perundurai on June 11
Minister for Housing, Prohibition, and Excise, S. Muthusamy, on Friday said that Chief Minister M.K. Stalin would inaugurate the regional-level agricultural exhibition near the toll gate, near Perundurai, on June 11. Organised by the Department of Horticulture and Plantation Crops, the two-day exhibition and seminar would have participation of government departments and farmers from 10 districts. The Minister laid the foundation for the exhibition and held discussions with officials. The purpose of the exhibition was to raise awareness among farmers, college students, the general public, food processors, and exporters about modern technologies, new crop varieties, agricultural machinery, and value-added processing technologies, he said. As part of the exhibition, 70 stalls would be set up by various government departments while 130 stalls would be set up by private enterprises, including Farmer Producer Organisations (FPOs). The exhibition will showcase, modern and traditional seeds, fruit plants, tray seedlings, processed agricultural products, fertilizers, and crop protection chemicals, modern agricultural machinery and micro-irrigation equipment. Services such as e-rental (e-Vaadagai) for machinery, Uzhavan mobile app, and registration for agri-warehousing will also be made available for farmers. Rajya Sabha MP Anthiyur P. Selvaraj, Erode MP K. E. Prakash, Erode East MLA V. C. Chandrakumar, Personal Assistant (Agriculture) to the District Collector Loganathan, and other officials were present.


The Hindu
21-05-2025
- The Hindu
Call to relax traffic regulations during Plantation Crops Show in the Nilgiris
The Neelakurinji Integrated Farmer Producer Company (NIFCO) has written to the Nilgiris district collector to ease traffic restrictions along the Udhagamandalam-Coonoor-Mettupalayam Road during the district's first-ever Plantation Crops Show, to be held at the Kattery Park near Coonoor from May 30 to June 1. The founder of NIFCO, Hubbathalai N. Sivan, in his letter to the Collector and the Department of Horticulture and Plantation Crops noted that the show was 'a good opportunity for the small plantation farmers and big estates to showcase their products – tea, coffee, spices etc., at the stalls of the show, which will provide a large market place and exposure of the products to domestic as well as international tourists and business communities.' However, he stated that small farmers were worried about attendance to the event due to existing traffic regulations, which made the Mettupalayam-Coonoor-Udhagamandalam road a 'one-way' for vehicles ascending the hills during the weekends. The existing arrangements routed traffic descending from Udhagamandalam via Kotagiri Road. 'Since the show falls on the weekend days, many tourists will miss to see the event due to the existing traffic regulations. Hence, it will be a great honour if the highway is open both ways (for ascending and descending vehicles) for the visit of the tourists to the show during the above three days of the event,' said Mr. Sivan.