Sanmit Infra standalone net profit rises 1780.00% in the June 2025 quarter
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Indian Express
28 minutes ago
- Indian Express
Karnataka passes gig workers welfare bill; rules for welfare fee soon, says Labour Minister Santosh Lad
The Karnataka Legislative Assembly on Tuesday passed legislation aimed at protecting the rights of gig workers, placing obligations on aggregators for the social security, occupational health and safety of the gig workers. This would cover around 4 lakh gig workers employed by various platforms across the state. The Karnataka Platform Based Gig Workers (Social Security and Welfare) Bill, 2025, was taken up for discussion on Tuesday, after months of deliberations by various stakeholders regarding the contents of the proposed legislation. Labour Minister Santosh Lad, piloting the Bill, said that it would apply to eight services provided by aggregators—ride sharing, food and grocery delivery, logistics services, e-marketplace, professional activity provider, healthcare, travel and hospitality, and content and media services. The Bill allows the government to levy a welfare fee ranging from 1 to 5 per cent on aggregators meant for a welfare fund of gig workers. 'The fee cannot be implemented uniformly (from all aggregators). When rules are framed, the government will also determine the welfare fee,' he said. Deputy Leader of Opposition Arvind Bellad argued that variation in the fee for various aggregators could lead to corruption. 'Fixing one rate is appropriate,' he suggested. Lad, in response, said that it would not be possible to do so as there were differences among various aggregators. 'For instance, Namma Yatri (ride-hailing app) transfers the amount charged directly (to drivers). Should we then take it from the user fee? Companies such as Urban Clap will pay service and transportation charges. How should it be collected from them?' he asked, adding that the government has held discussions with experts to finalise the fee. Explaining the necessity of the Bill, he said that some gig workers were putting in 16-hour shifts to earn around Rs 1,600 to Rs 1,800. Due to the kind of work, these workers will face health problems in the future, Lad said. BJP legislator Dheeraj Muniraju asked whether the government could fix minimum wages and stipulate maximum working hours for a gig worker. The minister said that all gig workers were employed on a 'flexi-hour basis' and were free to work as much as they wanted. 'They have the right to reject work too,' he added. Before the Bill was tabled in the Legislature, it was promulgated as an ordinance earlier this year.
Deccan Herald
28 minutes ago
- Deccan Herald
Devotee to donate 121 kg gold worth Rs 140 crore to Lord Venkateswara Swamy: Andhra CM
Noting that the devotee wished to remain anonymous, Naidu said he made USD 1.5 billion or about Rs 6,000 crore to Rs 7,000 crore by selling 60 per cent of his company shares and decided to give back to the deity as Sri Venkateswara Swamy gave him those riches.
Economic Times
28 minutes ago
- Economic Times
Antique initiates buy call on Zen Technologies shares despite 43% fall in 1 year, sees 31% upside
Brokerage firm Antique Stock Broking has initiated coverage on Zen Technologies for a price target of Rs 1,866, and the stock offers an upside of 31%. The smallcap counter is a fundamental pick, which is valued at 32X 1HFY28E EPS. Tired of too many ads? Remove Ads Why Zen matters? Tired of too many ads? Remove Ads Caveats Competition Zen Technologies share price history Brokerage firm Antique Stock Broking has initiated coverage on Zen Technologies for a price target of Rs 1,866, and the stock offers an upside of 31%. The smallcap counter is a fundamental pick, which is valued at 32X 1HFY28E brokerage firm, in a note, said that Zen Technologies shares are well-positioned to capitalise on the strong growth potential in the Anti-Drone Systems (ADS) space. The company possesses in-house capabilities in core components of an effective ADS and has an edge in both soft as well as hard-skill solutions, the note recent conflicts have underscored the need for ADS to safeguard the country's expansive borders and critical infrastructure such as airports and nuclear power plants. This particular area offers an estimated Rs 10,000 crore opportunity over the next five years, Antique also holds a strong foothold in simulation-based training solutions for the armed wrapped up FY25 with an order book of Rs 690 crore, down 50% over the FY24 closing order book. The company was expecting orders of Rs 800 crore by 3QFY25, some of which were delayed, and now it expects to win these orders by 1HFY26."We believe that the orders may have been delayed due to the government prioritising finalisation of emergency orders over the regular ones. Nevertheless, we expect order intake to resume traction in FY27E and FY28E, given the urgency in countering threats from drone strikes during war and against terrorist strikes," Antique on the potential, Antique estimates Zen to clock a consolidated revenue, EBITDA, PAT CAGR of 29%,25% and 26%, respectively, over had a lackluster Q1 with consolidated net profit declining 33% year-on-year and 53% quarter-on-quarter to Rs 54 crore, while the revenue from operations fell 38% and 51% on a YoY and QoQ basis to Rs 158 Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) in the quarter under review stood at Rs 65 crore, down 42% YoY and 53% Read: Rekha Jhunjhunwala portfolio: 12 stocks log double-digit gains, 1 microcap shines with 43% return in FY26 so far While the company has delivered impressive profit growth in recent years, near-term earnings visibility is clouded by delays in order finalisation, which may lead to a temporary pause in growth in FY26E, Antique points competitors are Bharat Electronics (BEL), Axiscades Technologies Apollo Micro Systems , and Solar Industries Zen has significantly underperformed the markets, with the share price falling 17% in the past one year. On the year-to-date basis, the prices are down 43%.
