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Time of India
04-08-2025
- Business
- Time of India
HDB Financial shares slip below IPO price for first time, down over 1% to hit new 52-week low
Shares of HDB Financial Services slipped below their issue price of Rs 740 for the first time on Monday, tumbling 1.4% to touch a new 52-week low of Rs 738.20 on the BSE , marking a reversal from the company's strong listing debut last month. The decline brings the stock below its IPO issue price of Rs 740, after having opened at Rs 835 during its market debut on July 2. The shares had listed at a premium of 12.84% over the issue price, reflecting strong investor interest at the time. Explore courses from Top Institutes in Please select course: Select a Course Category Management Project Management Healthcare Data Science Artificial Intelligence Operations Management healthcare Cybersecurity Product Management Data Analytics Leadership Data Science Finance Public Policy Design Thinking others Technology CXO Others MBA Digital Marketing PGDM Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details HDB Financial's Rs 12,500 crore initial public offering (IPO) comprised a fresh issue of Rs 2,500 crore and an offer-for-sale of Rs 10,000 crore. The issue closed on June 27 with an overwhelming response, being subscribed 17.65 times overall. Qualified Institutional Buyers (QIBs) led the demand, subscribing their portion 31.73 times. Despite a volatile market backdrop, investor enthusiasm was driven by the company's strong parentage and diversified loan book across retail, SME, and asset finance segments. HDB also boasts a wide phygital footprint with over 1,700 branches across India, more than 80% of which are located outside the top 20 cities. The IPO attracted bids worth over Rs 1.61 lakh crore, making it the second-most subscribed large issue (over Rs 10,000 crore) after Tata Technologies . While it fell short of Bajaj Housing Finance's Rs 3 lakh crore+ record, it surpassed other recent NBFC listings in terms of demand. At the upper end of the price band, HDB Financial was valued at a price-to-earnings (P/E) ratio of 28.15x based on FY25 earnings, with an implied market capitalization of around Rs 61,253 crore. Also read: Rekha Jhunjhunwala exits Nikhil Kamath, Madhusudan Kela-backed smallcap stock with 111% returns in 3 years ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Time of India
03-08-2025
- Politics
- Time of India
Govt to never evict Indian, Assamese people: Himanta Biswa Sarma
Guwahati: Assam Chief Minister Himanta Biswa Sarma on Sunday said the government will never evict "any Indian or Assamese people", a day after he stated that unauthorised occupation of public land by indigenous people is not considered as encroachment. Speaking to reporters on the sidelines of an election campaign meeting in Bodoland Territorial Region , Sarma tried to alleviate fears in the minds of non-tribal people living in the BTR. Explore courses from Top Institutes in Please select course: Select a Course Category Management Leadership healthcare Artificial Intelligence PGDM Digital Marketing Design Thinking MBA Public Policy MCA Data Science Operations Management Others Technology Data Analytics Project Management Cybersecurity Finance Data Science Healthcare others Degree Product Management CXO Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details "Don't take tension about eviction. It's a different department which will decide whom to evict. There will be no eviction against any Indian or Assamese people, just keep this in mind," he added. On Saturday, the CM said the government does not consider unauthorised occupation of public land by indigenous people as encroachment, unlike the case with illegal foreigners or doubtful citizens. He also said the government will continue its eviction drives against encroachments by suspected foreigners across the state. Live Events Talking about non-tribals living in Bodoland, Sarma said, "Nobody can touch you people till Himanta Biswa Sarma is alive. Tell all that he is there, and he will come if anything happens. "Remember that you are safe and have equal rights because THE BJP is here and there will be no second class citizens. All will live peacefully in BTR. Our Gorkha, Assamese, Bengali, Bodo, tribals and non-tribals -- no one should think about safety. We will have a peaceful BTR." The Assam government on Sunday carried out an eviction drive to clear alleged encroachment from nearly 1,000 bighas (over 133 hectares) of forest land, displacing more than 350 families, in Golaghat district. A day after completing the five-day-long first phase of a massive eviction drive to clear almost 11,000 bighas (nearly 1,500 hectares) of forest land in Rengma Reserve Forest from encroachers, the administration began a similar drive inside Nambor South Reserve Forest. At Rengma Reserve Forest in Uriamghat along the Assam-Nagaland border in Sarupathar sub-division, the eviction drive displaced around 1,500 families, mostly from the Muslim community. Besides, 205 households in the Negheribil area under Merapani, located within the Doyang Reserve Forest, have also been served eviction notices. The drive there is scheduled to commence from August 8.
Time of India
03-08-2025
- Politics
- Time of India
Ukrainian drone attack sparks massive fire at Russian oil depot near Sochi
Moscow: An overnight Ukrainian drone attack on an oil depot near Russia's Black Sea resort of Sochi sparked a major fire, Russian officials said Sunday, as the two countries traded strikes. More than 120 firefighters attempted to extinguish the blaze, sparked after debris from a downed drone struck a fuel tank, Krasnodar regional Gov Veniamin Kondratyev said on Telegram. Videos on social media appeared to show huge pillars of smoke billowing above the oil depot. Explore courses from Top Institutes in Please select course: Select a Course Category Management Digital Marketing Public Policy Technology Artificial Intelligence Finance Product Management Others healthcare Data Analytics MBA Degree PGDM others Data Science MCA Project Management Healthcare Design Thinking Leadership Operations Management CXO Data Science Cybersecurity Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Russia's civil aviation authority, Rosaviatsia, temporarily stopped flights at Sochi's airport. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Gold Is Surging in 2025 — Smart Traders Are Already In IC Markets Learn More Undo Further north, authorities in the Voronezh region reported that four people were wounded in another Ukrainian drone strike . Russia's Defence Ministry said its air defences shot down 93 Ukrainian drones over Russia and the Black Sea overnight into Sunday. Live Events Meanwhile, in southern Ukraine, a Russian missile strike hit a residential area in the city of Mykolaiv, according to the State Emergency Services, wounding seven people. The Ukrainian air force said Sunday Russia launched 76 drones and seven missiles against Ukraine. It said 60 drones and one missile were intercepted, but 16 others and six missiles hit targets across eight locations. The reciprocal attacks came at the end of one of the deadliest weeks in Ukraine in recent months, after a Russian drone and missile attack on Thursday killed 31 people, including five children, and wounded over 150. The continued attacks come after US President Donald Trump gave on Tuesday Russian President Vladimir Putin a shorter deadline - Aug. 8 - for peace efforts to make progress. Trump said Thursday that special envoy Steve Witkoff is heading to Russia to push Moscow to agree to a ceasefire in its war with Ukraine and has threatened new economic sanctions if progress is not made.
Time of India
31-07-2025
- Business
- Time of India
British Indian hotelier Surinder Arora in race to expand Heathrow Airport
One of Britain's leading Indian-origin hoteliers, Surinder Arora , on Thursday revealed plans to join the race to expand Heathrow Airport with a cost-efficient solution that offers a fully operational third runway by 2035. The Arora Group , behind some of the UK's prominent hotels and luxury resorts, said its "Heathrow West" proposal to the UK government has been developed alongside American civil engineers Bechtel, who have a track record of delivering airport projects globally. Explore courses from Top Institutes in Please select course: Select a Course Category Management MCA Project Management Healthcare Design Thinking others Public Policy MBA Data Analytics Digital Marketing Leadership PGDM Product Management Data Science healthcare Artificial Intelligence CXO Finance Others Operations Management Degree Technology Cybersecurity Data Science Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details The company said the full proposal for the expansion of the UK's only hub airport submitted to the Department of Transport (DfT), delivers on the government's ambition to unlock economic growth and offer consumers greater choice, with significantly improved levels of efficiency, service and resilience for airlines and passengers. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like No one would believe how you can use plastic bottles at home! Story to Hear Undo "After a decade working with our world leading design and delivery team, I am very proud that the Arora Group can finally unveil to the UK government our Heathrow West proposal , which directly meets and supports the United Kingdom's primary objective of unlocking economic growth at the UK's only hub airport, with a strong commitment of doing so on-budget and on-time," said Arora. "We are delighted that the government has taken a common-sense approach to invite proposals from all interested parties for the very first time rather than granting exclusivity to the current airport operator, no matter its track record. I want the UK to succeed... Our project will generate employment and skills training opportunities across every region of the UK." Live Events The billionaire tycoon claimed that his plans incorporate simpler and less disruptive construction, enabling earlier delivery of new terminal capacity and avoiding the major disruption of building over the M25 highway. "Heathrow West will have a board that comprises members with proven track records in governance, finance, construction, aviation and sustainability. Furthermore, Heathrow West will be committed to working with airlines to adapt its design to ensure it provides value for money and operational resilience while promoting technological innovation," said Carlton Brown, CEO of Heathrow West. "Ultimately, I want to see Heathrow help Britain become the best-connected nation in the world and facilitate the trade and inward investment our UK economy needs in order to compete with the rest of the world. There is no reason as to why the UK's only hub cannot outcompete not just its European rivals, but also Dubai, Singapore and others." The company said building a shorter 2,800-metre third runway, instead of the full-length 3,500-metre runway planned by the airport, would result in "reduced risk" and avoid "spiralling cost". With a shorter runway, efficient construction programme, fewer dependencies and a clear path to site mobilisation, the evidence provided in the submission strongly suggests that this scheme, and the new runway in particular, can be delivered in the target timeframe of 10 years while offering a more acceptable and cost-effective solution, the property and retail group said. The plan by the British Indian hotel magnate includes building a new terminal, which would open in two phases in 2036 and 2040. Locally to Heathrow in west London, the Arora Group properties include the Hilton Garden Inn London, Holiday Inn Express Heathrow T4 and Sofitel London Heathrow T5. Its portfolio also includes the Fairmont Windsor Park, InterContinental London - The O2, and Luton Hoo Hotel, Golf & Spa - which served as host during Prime Minister Narendra Modi's two-day visit to the UK last week. UK Transport Secretary Heidi Alexander is set to review the Airports National Policy Statement, which provides the basis for decision-making on the Heathrow expansion, the government's agenda to meet the ever-increasing air traffic demands at Britain's largest international airport.
Time of India
30-07-2025
- Climate
- Time of India
Monsoon havoc in Himachal: Death toll reaches 170; 343 roads, 551 power transformers, 186 water schemes disrupted
Relentless monsoon rains continue to batter Himachal Pradesh, severely impacting critical public infrastructure. As of 10:00 AM on July 30, a total of 343 roads remain blocked, 551 power distribution transformers (DTRs) are disrupted, and 186 water supply schemes are out of service across various districts, according to the State Emergency Operation Centre (SEOC). Explore courses from Top Institutes in Please select course: Select a Course Category Management Data Science Technology healthcare Healthcare Data Science PGDM Product Management Project Management Digital Marketing MBA Finance Public Policy Operations Management Degree Cybersecurity CXO Data Analytics MCA Leadership Design Thinking Artificial Intelligence Others Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details The cumulative death toll due to the ongoing monsoon fury has risen to 170, with 94 deaths directly linked to rain-related incidents such as landslides, flash floods, and house collapses. An additional 76 deaths have occurred in road accidents, many of which are believed to be a consequence of slippery roads, falling debris, and poor visibility due to persistent rain. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo Districts such as Mandi (217 blocked roads), Chamba (53 roads), and Kullu (47 roads) are among the worst affected. The Mandi district also reported heavy damage to its power infrastructure, with 155 DTRs out of service, while 279 transformers were disrupted in Chamba alone. Water supply remains severely affected in several subdivisions, particularly in Chamba (80 schemes) and Mandi (47 schemes). Live Events The State Disaster Management Authority (SDMA) continues to coordinate with local administrations to restore essential services and clear roads. However, with further rainfall predicted, residents are urged to remain cautious and avoid travel to vulnerable areas. Authorities are on high alert, and disaster response teams have been deployed in sensitive zones for timely rescue and relief operations. Himachal Pradesh's Kullu district has suffered losses of over Rs 48 crore since the start of the monsoon season, with 17 people reported dead, Deputy Commissioner Torul S Raveesh said. She also informed that 65 residents of Darmedha village have been moved to safer areas as a precaution. "Since the onset of monsoon, various departments in Kullu district have suffered losses of Rs 48 crore and individual damages of Rs 50 lakh... So far, 17 people have lost their lives," Raveesh told ANI. She added, "As a precautionary measure, 65 residents of Darmedha village have been shifted to safer areas."
