ED Raids 24 Locations In Rajasthan, Gujarat In Money Laundering Case
The Enforcement Directorate conducted searches at 24 locations in Rajasthan and Gujarat in connection with a Rs 2700 crore money laundering case.
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Hans India
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11 out of 21 poll promises fulfilled in 1 year: Dy CM
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Time of India
24 minutes ago
- Time of India
HCL Tech shares in focus after Volvo Cars picks firm for end-to-end engineering services
HCL Tech shares will be in focus on Friday after Swedish carmaker Volvo Cars selected the Indian IT major as one of its strategic suppliers for engineering services . The deal expands their existing collaboration in digital and product lifecycle management (PLM) to include the delivery of end-to-end engineering solutions at scale. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Air conditioners without external unit. (click to see prices) Air Condition | Search Ads Search Now Undo HCL Tech will support Volvo Cars' engineering initiatives through its automotive Centre of Excellence in Gothenburg, Sweden, along with its global offshore and nearshore delivery centres. The company said the partnership aligns with Volvo's focus on sustainable growth and innovation in future mobility. 'This strategic engagement reflects our commitment to delivering high-performance, future-ready engineering solutions that help shape the mobility of tomorrow,' said Pankaj Tagra, Corporate Vice President at HCLTech for Manufacturing and Allied Industries in Europe. He added that the deal further strengthens HCLTech's position as a strategic engineering partner for global automotive clients. Also Read: SBI, Bank of Baroda among 10 banks that saw NPA decline in Q4 Live Events Volvo Cars aims to deliver mobility that is personal, sustainable, and safe, and the expanded partnership with HCLTech is expected to support this vision. Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75% HCL Tech share price performance and outlook According to Trendlyne, the average target price for HCL Tech is Rs 1,664, suggesting a potential downside of about 2% from current levels. Among 44 analysts tracking the stock, the majority have a 'Hold' rating. Technically, the stock's Relative Strength Index ( RSI ) stands at 62.4, indicating neutral momentum. The MACD is at 19.9, positioned above both the centre and signal lines — a bullish signal. HCL Tech shares closed 1.1% lower at Rs 1,702 on the BSE in the previous session, even as the Sensex slipped 1%. The stock has gained 11% in the past three months but remains down 12% over the last six months. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Hans India
25 minutes ago
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ACB lens on Irrigation Dept as skeletons tumble out of closet
Hyderabad: The Irrigation Department in Telangana has come under intense scrutiny recently, following a surge in corruption cases against its officials. Frequent arrests of Irrigation engineers over the past three months related to disproportionate assets and bribery have cast serious doubts on the efficacy and integrity of personnel within the department. Most of the arrested corrupt officials are reported to have amassed assets worth no less than Rs 100 crore. In the latest case concerning disproportionate assets, the Anti Corruption Bureau (ACB) has arrested Executive Engineer N Sridhar. Searches were conducted at multiple locations, including his residence and those of his relatives, in connection with allegations of acquiring illicit wealth. The corrupt official was found to own villas, luxury apartments, and expensive open plots in Hyderabad. ACB officials revealed that they have been receiving numerous complaints against Irrigation officials, alleging demands for bribes to clear pending bills from contractors. Many of the irrigation engineers, who possess the authority to approve project works and finalise executing agencies, are currently facing corruption allegations within the department. ACB sleuths meticulously analysed Sridhar's track record before conducting searches to uncover assets amassed through illegal means throughout his career as an engineer. The market value of these disproportionate assets is estimated to exceed Rs 200 crore. In recent times, the ACB also apprehended Assistant Engineer Nikesh Kumar from the Irrigation Department, unearthing assets valued at an estimated Rs 150 crore during raids at his residence and other locations. Nikesh allegedly colluded with contractors and undertook works under 'benami' (proxy) names. The sheer scale of his exploitation of official position stunned the entire department. The arrest of Executive Engineer Arram Reddy Amarender Reddy, who was caught red handed accepting a bribe of Rs 60,000, further astonished irrigation officials. Such direct apprehension of irrigation officials by the Anti Corruption Bureau for accepting bribes has been rare in recent years. Top officials have indicated that the Irrigation Secretary is currently reviewing the performance of department personnel. A particular focus is on the long tenure of officials in single posts within the same office, which is believed to be a primary reason for them developing extensive networks with agencies and subsequently exploiting their positions for illicit gain.
