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Time of India
2 days ago
- Business
- Time of India
Hyundai, Kia sell shares worth Rs 690 crore in Ola Electric via block deal
Hyundai Motor and Kia Corporation sold shares worth nearly Rs 690 crore in electric two-wheeler maker Ola Electric through open market transactions on Tuesday, according to NSE bulk deal data. Hyundai offloaded 108 million shares at Rs 50.70 apiece, amounting to Rs 551.9 crore, while Kia sold 27 million shares at Rs 50.55 each for Rs 137.3 crore. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A transformação de Fausto Silva aos 74 anos é inaceitável. Paperela Undo Citigroup Global Markets Mauritius purchased shares worth Rs 435.4 crore in Ola Electric during the same session. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Ola Electric shares closed 8% lower at Rs 49.33 on the NSE Tuesday. The Bengaluru-based company's performance has weakened in the fourth quarter of the last financial year, amid a declining market share, falling stock price and increased regulatory scrutiny. Live Events The company's net loss widened to Rs 870 crore in the quarter ended March 31 from Rs 416 crore a year earlier. Operating revenue fell nearly 62% to Rs 611 crore, hurt by a significant drop in electric scooter sales. Earlier this month, Ola Electric's board approved a proposal to raise up to Rs 1,700 crore through non-convertible debentures and other debt instruments, the company's first fundraising move since its August 2024 IPO.
Time of India
3 days ago
- Health
- Time of India
Mount Etna eruption: Potential health risks locals are exposed to
Mount Etna is showing her natural might! As Europe's most active volcano erupted dramatically on June 2, sending massive plumes of ash and lava into the sky, Italy is currently facing significant turmoil among both locals and tourists due to the violent eruption. The eruption of Mount Etna released massive clouds of ash into the atmosphere and necessitated the evacuation of affected areas. The sudden volcanic activity has disrupted daily lives around the area, leading to emergency evacuations because of the hazardous conditions created by the thick ash fallout. What's happening? Mount Etna, Europe's most active volcano, erupted early on Monday, June 2, producing large plumes of smoke and prompting tourists to flee for their lives. Mount Etna has a distinct conical shape and reaches a height of nearly 3,400 meters due to centuries of continuous lava flows and explosive eruptions. The eruption began around 4 a.m. local time, with Italy's National Institute of Geophysics and Volcanology reporting increasingly intense strombolian explosions. Etna, situated on Sicily's east coast near Catania and Taormina, is a UNESCO World Heritage site and one of the world's most active stratovolcanoes, with annual eruptions. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A transformação de Fausto Silva aos 74 anos é inaceitável. Paperela Undo While the immediate threat to life was minimal, the eruption poses significant health risks to nearby residents. Some of them are: Respiratory hazards from volcanic ash: Volcanic ash is composed of fine particles that can penetrate deep into the lungs, leading to respiratory issues. Inhalation of ash can cause coughing, throat irritation, and exacerbate chronic respiratory conditions such as asthma and bronchitis. A retrospective study from the 2002 eruption of Mount Etna found a significant increase in emergency department visits for acute respiratory diseases during periods of intense ash fall. Cardiovascular strain Exposure to volcanic ash can also strain the cardiovascular system. Fine particulate matter can enter the bloodstream, leading to inflammation and increased risk of heart attacks and strokes, particularly in individuals with pre-existing heart conditions. The same 2002 study observed a rise in cardiovascular-related emergency visits during the eruption period. Ocular and dermatological effects Ash particles can irritate the eyes, leading to conditions like conjunctivitis and corneal abrasions. Direct contact with ash can also cause skin irritation, especially if the ash is acidic. Residents are advised to wear protective eyewear and clothing when venturing outdoors during ashfall. Long-term health concerns Long-term exposure to volcanic ash and gases has been linked to increased cancer risks. A study highlighted by Scientific American suggests that residents near Mount Etna may face an elevated risk of thyroid cancer due to contaminants like magnesium, boron, iron, and vanadium found in the local water supply, which are leached from volcanic rocks. Vulnerable populations Certain groups are more susceptible to the health effects of volcanic activity. Children, the elderly, and individuals with pre-existing health conditions such as respiratory or heart diseases are at higher risk. It's crucial for these populations to minimize exposure and seek medical advice if symptoms arise. Mitigation measures Local authorities have issued advisories urging residents to stay indoors during ashfall, keep windows and doors closed, and wear masks when going outside. Regular cleaning of ash from roofs and streets is essential to prevent accumulation and potential structural damage. While Mount Etna's recent eruption has not caused any immediate harm to residents, the associated health risks are quite significant. Ongoing monitoring and public health measures are extremely important to protect the local population from the adverse effects of the ongoing volcanic activity. Scientists say volcano eruption is unpredictable One step to a healthier you—join Times Health+ Yoga and feel the change
Time of India
4 days ago
- Business
- Time of India
PSU banks to set up common platform for debt recovery
New Delhi: Five public sector banks (PSBs), including State Bank of India , Punjab National Bank and Bank of Baroda , are working out the details and workflow for a common collection firm to recover retail and MSME loans below Rs 5 crore. The initiative will be pursued through PSB Alliance Pvt Ltd, which will develop a proof of concept, said people familiar with the development. Other state-run banks will join the project later, they said. "This will help lenders focus on core banking activities while enhancing recoveries in cases of multiple loans to a single borrower from different banks," said a senior bank executive, adding that once finalised, all banks will take a stake in the firm as in the case of National Asset Reconstruction Company Ltd. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like A transformação de Fausto Silva aos 74 anos é inaceitável. Paperela Undo Only three-four PSBs currently outsource their debt collection and it is largely for retail loans, another bank executive said. "This new collection agency can shape up to be a step before banks transfer such accounts to asset reconstruction companies," he said, adding it would help banks keep their focus on recovering large amounts. The finance ministry has already directed banks to review their top 20 cases regularly and also monitor accounts where resolution plans are pending for consideration with the committee of creditors for more than three months. Live Events "The firm should be fully operational in this fiscal. We are also collaborating with banks on other initiatives," said an official from PSB Alliance, a company set up by public sector banks to provide a common platform for delivering banking services. Emails sent to banks seeking comment did not elicit any response till press time Monday. The government, through the banks' reform agenda, Enhanced Access and Service Excellence Reforms, has been nudging PSBs to scale up internal collaboration, create common utilities and improve their performance and competitiveness. Banks are already collaborating on some other common platforms which include the auction platform Banknet, door-step banking and a cloud infrastructure for PSBs. According to a Care Ratings report, as of March 31, 2025, the gross non-performing assets of PSBs improved significantly, declining by 17% from a year earlier to ₹2.94 lakh crore. It, however, noted that fresh slippages during Q4 FY25 rose 7.8% Y-o-Y to ₹25,000 crore.
