Latest news with #Rs.40
Business Standard
3 days ago
- Business
- Business Standard
Avantel alltos 2.02 cr equity shares under rights issue
Avantel has allotted 2,02,26,100 equity shares of face value of Rs 2 each on rights basis to the eligible shareholders at an issue price of Rs.40/- per equity share. Consequent to the said allotment, the paid-up equity share capital of the company stands increased to 26,49,61,920 equity shares of Rs 2 each. Powered by Capital Market - Live News
India.com
4 days ago
- Business
- India.com
Amitabh Bachchan buys fourth plot in Ayodhya, will serve as a memorial for Harivansh Rai Bachchan, its worth Rs.., his total net worth is…
In the glitzy and glamorous world of Bollywood, where fame and fortune go hand-in-hand, success and wealth also keep changing every Friday. In such an unpredictable career landscape, it is essential to secure a lasting legacy. There is one such star in Bollywood who seconds this thought and is proving that reinvention is the ultimate power. Not just chasing scripts, this blockbuster star is also chasing land deal. The person we are talking about is none other than 'Sheenshah' of Bollywood, Amitabh Bachchan. After the historic adoption of the Ram Mandir, Ayodhya has become a gold mine for investment, and superstars like Amitabh Bachchan are making the most of this trend. Previously in 2o025, reports suggested that Amitabh had already made an investment around Ram Mandir. He acquired a 54,000 sq ft plot within a 10 KM radius of the temple, and the investment was made through his father's, Harivansh Rai Bachchan Trust, to serve as a memorial for his father But before this also, Amitabh Bachchan and his son Abhishek Bachchan had bought 10 luxury apartments accounting to Rs.25 crores. Besides this, he also invested in two major projects, including a 5,372 sq. ft. plot worth ₹4.54 crore, and another plot from producer Anand Pandit's company valued at around ₹10 crore. Now Amitabh Bachchan is again in headlines for his fourth investment in Ayodhya. He recently purchased a 25,000 sq. ft. plot located near the Saryu River. The plot's worth is around Rs.40 crores and is part of a high-development area. When it comes to wealth, the Bachchan family stands out. According to a recent statement by Jaya Bachchan in the Rajya Sabha, their total net worth is ₹1,578 crore. This includes ₹729.77 crore worth of property and ₹849.11 crore in cash and investments. With their ongoing work and smart investment decisions, especially in luxury real estate, this number is likely to grow even more in the coming years. Amitabh Bachchan is not just chasing fame, but he is also making smart investments and building a strong presence in India's growing real estate scene.
Business Recorder
5 days ago
- Business
- Business Recorder
MYT regime from 2023-24 to FY 2029-30: Nepra approves KE's average power supply tariff at Rs39.97
ISLAMABAD: National Electric Power Regulatory Authority (NEPRA) has approved KE's average power supply tariff of Rs 39.97 per unit for FY 2023-24 under Multi Year Tariff (MYT) regime from 2023-24 to FY 2029-30. This includes power purchase excluding transmission cost of Rs 31.96 per unit, transmission cost of Rs 2.86 per unit, distribution cost Rs 3.31 per unit, supply margin Rs 2.28 per unit and Prior Year Adjustment negative Rs 0.44 per unit. According to NEPRA, since the impact of any such determination is to be made part of the consumer end tariff, therefore, the Authority, conducted a public hearing on June 27, 2024. MYT regime: Nepra unveils KE's 7-year D&T tariffs The power utility company's total revenue requirement is estimated to be Rs 606.920 billion, for FY 2023-24, of which supply margin will be Rs 34.681 billion, O&M cost Rs 5.91 billion, working capital negative Rs 1.244 billion, recovery loss, Rs 36.253 billion, gross margin Rs 40.921 billion, other income negative Rs 6.240 billion, net margin Rs 34.681 billion and prior year adjustment negative Rs 6.690 billion. The Authority also considering the fact that FY 2023-24 has already lapsed and FY 2024-25 is almost 11 months gone, also obtained ICE's actual recovery ratios for the FY 2023-24 and FY 2024-25. As submitted by KE its actual recovery for the FY 2023-24 remained at 91.50%, whereas FY 2024-25 is expected to close at 90.50%. The financial impact of under recovery of 8.50% for FY 2023-24 and 9.50% for FY 2024-25, as reported by KE, is around Rs.40 billion and Rs.57 billion respectively. The Authority noted that return allowed to KE for its distribution function is around Rs.21.6 billion, meaning thereby that effectively KE would be incurring losses for the first 02 years of MYT, if no recovery loss is allowed to KE. This may compromise the financial viability of the company, which is neither in the interest of the consumers nor power system as whole. According to NEPRA, international precedents also suggest that 100% billing recovery is generally not mandated. Instead, regulators allow for reasonable bad debt provisions and encourage utilities to improve collection efficiency through performance targets and incentives. While high recovery rates are desirable, regulators balance this with the realities of consumer behaviour, economic conditions, and operational challenges, allowing for flexibility in recovery targets. Since KE is not financially supported by the GoP, unlike XWDISCOs, and non-provision of recovery gap allowance will significantly impact KE's ability to achieve future targets and execute its investments plans, therefore, keeping in view the ground realities and socioeconomic environment in which KE operates, KE has requested the Authority that the tariff should be based on the allowed recovery loss trajectory and KE should be compensated for legitimate costs related to recovery loss. In view of the environment in which KE operates and the challenges that it faces, KE requested NEPRA to have a realistic assessment of the benchmarks. In view thereof, KE, for the purpose of calculation of base tariff, requested that Recovery loss component be included based on amounts actually billed to consumers (including taxes paid on billing basis) and year on year recovery loss as a percentage for the next control period of FY 2024 to FY 2030. The Authority also noted that in case of XWDISCOs, although no recovery loss has been allowed, however, it is also a fact that the Federal Government under Section 31(8) of NIEPRA Act has the power to levy surcharges, to offset the inefficiencies of XWDISCOs arising from high losses and under-recoveries. However, no such option is available to K-Electric as it can only charge the regulated tariff. KE further submitted that recovery loss percentage being requested notionally assumes 100% recovery from Public Sector Consumers. Although there are delays in recovery from PSC consumers coupled with delays in release of Tariff Differential Subsidy (TDS) by the Government, the same is not being requested as it is separately being taken up with Government entities and departments. In case, the agreements with Government to streamline payment modalities do not materialize, KE reserves the right to request NEPRA for adequate compensation due to non-payment/delay in payments by Government entities In view of the case discussion, and to ensure sufficient liquidity in the power market, and to align the collection targets with current market realities, the Authority has decided to allow recovery loss to K-Electric as per the following targets for the Y1 control period from FY 2023- 24 to FY 2029-30; (i) 93.25 per cent in 2023-24, 93.60 per cent in 2024-25, 94.40 per cent in 2025-26, 95.19 per cent in 2026-27, 95.70 per cent in 2027-28, 90.10 per cent in 2028-29 and 96.50 per cent in 2029-30. Regarding mechanism to allow recovery of bad debts, the Authority observed that the relevant provisions of the NE Policy and NE Plan regarding the targets for collections and recovery of bad debts are as follows: NE Policy clause 5.3.2 stipulates that to 'ensure and put in place efficient tariff structures for sufficient liquidity in the power market, the target for losses and collections shall be revisited by the Regulator, in order to align the same with the current market realities. These targets shall be reflected in the determinations of the Regulator. Moreover, timely recovery of bad debt that is prudent shall be allowed by the Regulator with the incorporation of facilitative provisions in the regulatory framework as per industry practices and procedures.' Copyright Business Recorder, 2025
Hans India
6 days ago
- Business
- Hans India
Rs 92 cr sanctioned for Dalit business units in Chittoor, Tirupati
Tirupati: State Madiga Corporation Chairperson Dr Undavalli Sridevi said that dalits are witnessing comprehensive development under the NDA-led government in the State. During her visit to Chittoor district on Monday, she addressed a press conference at the local SC Corporation office, accompanied by district Social Welfare and Empowerment Officer G Chinnaiah, Sridevi emphasised that both Madigas and Malas, two major Dalit communities have been progressing economically and socially through loans and support provided by the SC Corporation in Chittoor. She revealed that a total of 2,221 business units had been sanctioned with a financial outlay of Rs.92 crore, including 954 units in Chittoor district and 1,267 in Tirupati district. Additionally, she noted that there are currently 117 shops operated through the SC Corporation in Chittoor. Highlighting past government efforts, Sridevi pointed out that between 2014 and 2019, the state allocated Rs.40,000 crore for Dalit welfare from a total budget of Rs.7.5 lakh crore. During N Chandrababu Naidu's tenure as Chief Minister, from 2015 to 2018, the district saw an investment of Rs.242 crore that helped create employment opportunities for around four lakh youth through various initiatives. She acknowledged former minister Nara Lokesh's efforts in laying over 4,000 kilometers of CC roads, with a significant portion constructed in Dalit-dominated villages during his previous tenure as minister for rural development. Dr Sridevi also addressed the SC sub-categorisation, stating that it was carried out with the vision of equitable development for both Madigas and Malas, based on population proportions. She added that the Madiga community, in particular, has welcomed the move, viewing it as a long-awaited step towards inclusive growth.
Business Recorder
6 days ago
- Politics
- Business Recorder
KP police uses teargas to disperse PPP rally
PESHAWAR: Police fired teargas shells into the participants of the 'Save KP' rally organized by the Pakistan Peoples Party (PPP) against corruption, lawlessness and bad governance in Khyber Pakhtunkhwa on Monday. Hundreds of PPP workers from across Khyber Pakhtunkhwa gathered at historic Jinnah Park to stage the protest. They included a large number of women and children. Chanting slogans, they marched towards the Provincial Assembly. Addressing the rally, the provincial president PPP Syed Mohammad Ali Shah Bacha accused the PTI government in Khyber Pakhtunkhwa for massive corruption, lawlessness and bad governance. He said that though the PTI is ruling Khyber Pakhtunkhwa since last 12 years, but it had miserably failed to deliver and guarantee financial transparency and indulged in corruption. He especially criticised the PTI government for Rs.40 billion accounts scam in Kohistan and solarisation of Masaajid. After the addresses of the PPP leaders, police started firing teargas shells to disperse the protestors. There were brief skirmishes between the police and the protestors. There were reports of alleged attack of PPP workers on a camp set up by the PTI workers for the release of the party founding chairman Imran Khan. Copyright Business Recorder, 2025
