Latest news with #Chennai-based
The Hindu
a day ago
- Science
- The Hindu
Students get hands-on training on satellite models
Students on Friday experienced hands-on training on various models of satellites at a two-day 'Satellite making workshop' organised by the Regional Science Centre, Tirupati, in association with Chennai-based Space Kidz India. Th event, conducted as part of the 'Space Week 2025', provided a platform to the next generation of space enthusiasts by bringing together the spirit of exploration and scientific learning. The first day's activities were themed 'Astronomy, satellite and water rocket launch', where the participants explored the functionality of satellites, their structural design and the electronics that power them. A water rocket demonstration by teams to illustrate the principles of propulsion and aerodynamics added to the excitement. 'The second and third day will honour the scientific fraternity behind the monumental milestone of lunar exploration, where students will be encouraged to design, build and test their own satellites,' said RSC project coordinator Srinivasa Nehru. Eighty students and teachers representing 25 schools from Tirupati and Hyderabad are attending the workshop.
The Hindu
a day ago
- Entertainment
- The Hindu
International Environmental Film Festival begins in Irinjalakuda
'Humanity has turned into a society that exploits nature every passing moment,' said actor and Kerala State Chalachitra Academy chairperson Premkumar. He was speaking after inaugurating the second edition of RITHU, an International Environmental Film Festival at St. Joseph's College, Irinjalakuda, on Friday. Highlighting the irreversible ecological damage caused by modern lifestyles, he stressed that humans now live in direct contradiction to the rhythm of nature. 'We have lost all sense of seasonal balance. Every art form has the power to spark transformation in the human mind. Cinema is not just entertainment, its true mission is fulfilled when it becomes a tool for social reform,' he said, The inauguration ceremony was presided over by C. Blessy, Principal of the college and chairperson of the festival. The festival opened with Kaad, Kaadar, Onkal, a striking documentary by Chennai-based filmmaker Aravind Mohanraj, exploring the deep-rooted connection between the Kadar tribal community of Athirappilly and hornbills. Over two days, the festival will screen 13 thought-provoking films in multiple languages, each addressing diverse dimensions of environmental crises and ecological resilience. The event is being jointly organised by Thrissur Chalachitra Kendram, Irinjalakuda Film Society, and the Induchoodan Foundation. Thrissur Chalachitra Kendram chairperson Cherian Joseph, Irinjalakuda Film Society patron P.K. Bharathan, festival director Lity Chacko, core committee member Nayana M.M., and student representative Gouri Nandakumar participated in the inaugural session.
New Indian Express
2 days ago
- Business
- New Indian Express
IOB net income surges 76% to Rs 1,111 crore in Q1 of FY26
Chennai-based state-run lender Indian Overseas Bank has reported a massive 76 percent jump in net income for the June quarter at Rs 1,111.04 crore after a strong showing in all key parameters, especially the asset quality side. Total income of the lender rose 17% to Rs 8,866.47 crore including other income of Rs 1,480.92 crore, the management said in a statement Friday. The key net interest income climbed nearly 13 percent to Rs 2,746 crore and the net interest margin stood at 3.04 percent giving it an operating margin of 26.59 percent from 22.14 per cent, and a net profit margin of 12.53 percent, up from 8.36 percent.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
IOB Q1 net up 76% at ₹1,111 cr, eyes QIP for ₹4,000 cr equity in Q3FY26
Chennai-based Indian Overseas Bank (IOB) has posted a 75.57 per cent Year on Year (YoY) increase in net profit to Rs 1,111 crore for the first quarter ended June 2025 (Q1FY26), driven by steady interest income and the sale of priority sector lending certificates (PSLCs). The lender is planning to raise up to Rs 4,000 crore through a Qualified Institutional Placement (QIP) in the third quarter of the current financial year to dilute government shareholding. Net Interest Income (NII) rose by 12.5 per cent YoY to Rs 2,746 crore, while the net interest margin (NIM) moderated to 3.04 per cent in the reporting quarter from 3.06 per cent in Q1FY25. Non-interest income rose by 43.37 per cent YoY to Rs 1,481 crore in Q1FY26. Ajay Kumar Srivastava, Managing Director and Chief Executive, IOB, said, 'Besides steady growth in Net Interest Income (NII), control on expenses and the sale of PSLCs helped in improving profit after tax.' NIM may take a hit of 5-10 basis points in the near term due to the immediate impact of lending rate cuts following the policy repo rate reduction by the RBI. The deposit rate cut by the lender will impact margins with a lag. NIM is expected to return to a level of 3.25 per cent by Q4FY26, Srivastava said in a post-earnings media interaction. Advances grew by 14.05 per cent YoY to Rs 2.62 trillion. The state-owned bank is focusing on retail, agriculture, and MSME segments, while demand from the corporate segment remains subdued. The bank expects credit to grow by 12-13 per cent YoY in the current financial year, Srivastava added. Total deposits increased by 10.75 per cent YoY to Rs 3.3 trillion. The share of low-cost deposits—current account and savings account (CASA)—stood at 43.78 per cent at the end of June 2025, up from 42.17 per cent a year ago. The lender has guided for 10 per cent growth in overall deposits in FY26. The bank has board approval to raise up to Rs 10,000 crore through infrastructure bonds, which are exempt from meeting the Cash Reserve Ratio and Statutory Ratios. The bank's asset quality improved, with gross NPAs declining to 1.97 per cent in June 2025 from 2.89 per cent in June 2024. Net NPAs also declined from 0.32 per cent in June 2024 to 0.51 per cent in June 2025. The bank's capital adequacy stood at 18.28 per cent, with Common Equity Tier-1 capital at 15.78 per cent at the end of June 2025. IOB plans to raise up to Rs 4,000 crore in equity capital through a QIP in the third quarter, depending on market conditions. This QIP is expected to reduce government holding from 94 per cent to 90 per cent, Srivastava said.
Business Upturn
2 days ago
- Business
- Business Upturn
SRH owner Sun TV Network buys UK's Northern Superchargers cricket franchise for Rs 1,168.6 crore
Sun TV Network Limited announced on Friday (July 18) that it has completed the acquisition of 100% equity of Northern Superchargers Limited, one of the eight franchises of The Hundred, a professional cricket league run by the England & Wales Cricket Board. According to its filing with the BSE and NSE, the Chennai-based media and sports company will pay GBP 100.5 million (approximately ₹1,168.6 crore) in cash for the acquisition. The purchase is being made through the automatic route under RBI regulations, and completion is expected on or before December 31, 2025. This marks Sun TV's latest global sports venture after owning the IPL team Sunrisers Hyderabad and the SA20 team Sunrisers Eastern Cape. Sun TV stated that the deal is aligned with its strategy to expand its global footprint in sports, particularly cricket, and build on the growing popularity of The Hundred internationally. Northern Superchargers Limited, incorporated in the UK in May 2019, operates in the cricket industry. The franchise reported revenues of GBP 1.89 million in FY24, slightly lower than GBP 1.99 million in FY23. Sun TV emphasized that the acquired entity is already profitable, and they expect the league to deliver greater financial success given the rising global interest. The board of Sun TV approved the deal during its meeting on July 18, which started at 2:30 PM and concluded at 3:40 PM. Post-acquisition, Northern Superchargers will become a wholly-owned subsidiary of Sun TV Network. No related-party transactions were involved, and the promoters of Sun TV do not have any prior interest in the entity. The acquisition is entirely cash-funded via authorised banking channels. Sun TV stated in its disclosure: 'We are enhancing our global footprint into sports and are investing into a Club that is part of 'The Hundred', which is already profitable and poised for greater financial success.' The move cements Sun TV's presence in cricket leagues across three major regions — India, South Africa, and now the United Kingdom. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
