Latest news with #Sah
New Indian Express
17 hours ago
- New Indian Express
Fake police station busted in Bihar days after ASI held with sophisticated weapons
PATNA: A group of fraudsters operated a fake police station for nearly a year from a government school building in Bihar's Purnea district. The racket surfaced shortly after a suspended ASI was arrested in Samastipur with sophisticated weapons, including an AK-47, Insas rifle, and a carbine. The alleged mastermind, Rahul Kumar Sah, has been absconding since the fake police station in Mohani village under Kasba police limits was exposed on Monday. Purnea SP Kartikey Sharma said a special police team has been formed to investigate the case. According to police, Sah posed as a recruiter for the Gramin Raksha Dal, charging local youth between Rs 2,500 and Rs 5,000 for supposed appointments as constables and chowkidars. After enrolling them, he handed out police uniforms, batons, and fake identity cards, and assigned them tasks, including vehicle checks and raids targeting liquor smugglers. Once recruited, they were instructed to carry out vehicle checking at different locations and fine motorists Rs 400 for infractions such as not wearing helmets or carrying a driving licence. Rs 200 went to the patrol team as commission, and the remainder was pocketed by Sah. 'Rahul told us the rest of the money was going into the government treasury,' one of the victims told senior police officers.
Time of India
24-05-2025
- Time of India
Body of minor boy found with dozen stab wounds
Motihari: Police recovered the body of a 16-year-old boy with dozens of stab wounds near project school in Bairiya area of West Champaran district on Thursday night. They suspect that Mithu Kumar Sah, a native of Pakhnaha-Dumariya village, was an alcoholic, and was killed by the members his liquor addict gang. The mother of deceased Sah said that he was about to have dinner when someone called him on his cellphone around 8pm. He told her that a friend of his had called, and that he is going to meet him, leaving home in a hurry. After around 30 minutes, some villagers informed her that Sah was stabbed to death, and that his body was lying behind the school building at Pakhnaha Bazar. One Ashish Kumar, the night guard of the local project school, informed the police. Rajnish Kant Priydarshi, subdivisional police officer-II of Bettiah, said that they reached the spot, and called the FSL and DIU teams to investigate the case. "The police recovered an empty pouch of country liquor, ganja and match boxes from the spot. We suspect that Sah, a high school dropout, was addicted to liquor, and was stabbed to death by the members of the addicts' gang after heated exchange of words with them. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Two suspects, detained in the case, are being quizzed," he said. Motihari: Police recovered the body of a 16-year-old boy with dozens of stab wounds near project school in Bairiya area of West Champaran district on Thursday night. They suspect that Mithu Kumar Sah, a native of Pakhnaha-Dumariya village, was an alcoholic, and was killed by the members his liquor addict gang. The mother of deceased Sah said that he was about to have dinner when someone called him on his cellphone around 8pm. He told her that a friend of his had called, and that he is going to meet him, leaving home in a hurry. After around 30 minutes, some villagers informed her that Sah was stabbed to death, and that his body was lying behind the school building at Pakhnaha Bazar. One Ashish Kumar, the night guard of the local project school, informed the police. Rajnish Kant Priydarshi, subdivisional police officer-II of Bettiah, said that they reached the spot, and called the FSL and DIU teams to investigate the case. "The police recovered an empty pouch of country liquor, ganja and match boxes from the spot. We suspect that Sah, a high school dropout, was addicted to liquor, and was stabbed to death by the members of the addicts' gang after heated exchange of words with them. Two suspects, detained in the case, are being quizzed," he said. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
Arab News
04-05-2025
- Business
- Arab News
Saudi Arabia opens May round of Sah savings sukuk with 4.66% return
RIYADH: Saudi Arabia launched the May issuance of its Sah savings sukuk, offering retail investors a fixed return of 4.66 percent as the government continues to push savings participation. The sukuk, part of the country's broader local bond program, is issued by the Ministry of Finance and managed by the National Debt Management Center. It is available for subscription from May 4 at 10:00 a.m. until May 6 at 3:00 p.m. local time, the NDMC said in a statement. As part of the Vision 2030 Financial Sector Development Program, the initiative aims to boost personal savings by encouraging regular fiscal habits, expanding product access, and promoting financial literacy to support future goal planning. The offering, denominated in riyals, also supports the goal of raising the national savings rate from 6 percent to 10 percent by the decade's end. The sukuk carries a one-year maturity and can be purchased in increments of SR1,000 ($266), with a cumulative cap of SR200,000 per individual across all program issuances. Allocation is scheduled for May 13, with redemption occurring between May 18 and 20. Payments will be disbursed on May 25. The Sah sukuk is accessible through digital platforms operated by SNB Capital, Al Rajhi Capital, and AlJazira Capital, as well as Alinma Investment and SAB Invest. The May issuance of the Sah savings product follows the fourth round issued in April, which offered a 4.88 percent return under the Ijarah sukuk structure. Available through the digital platforms of approved financial institutions, the bonds featured a one-year savings term with fixed returns payable at maturity. The minimum subscription was SR1,000, with a maximum cumulative limit of SR200,000 per user across all issuances during the program period. Sah is Saudi Arabia's first Shariah-compliant savings instrument for individuals. Structured under the Ijarah model — where returns are derived from leasing-based assets — the product is designed to offer a low-risk, fixed-income alternative with no fees and exemption from Zakat. Returns are paid upon maturity, with early redemptions allowed during set windows but without profit entitlement. NDMC CEO Hani Al-Madini said in March that Sah that the sukuk serves as a catalyst for private sector cooperation and participation in developing and launching various savings products tailored to diverse demographics. These initiatives could involve partnerships with banks, fund managers, financial technology companies, and more. In late February, the NDMC confirmed it would continue using the Ijarah format for future issuances to provide accessible, low-risk savings solutions.
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Business Standard
02-05-2025
- Business
- Business Standard
Indus Towers shares tumble 7% as Q4 profit dips; results breakdown here
Shares of Indus Towers fell over 7 per cent on Friday, even as the broader market rallied, after the telecom firm reported a 4 per cent year-on-year (Y-o-Y) decline in the March quarter profit. The telecom infrastructure company's stock fell as much as 7.2 per cent during the day to ₹378.65 per share. The stock pared losses to trade 5.3 per cent lower at ₹386.4 apiece, compared to a 0.25 per cent advance in Nifty50 as of 11:28 AM. The stock is currently at the lowest level since April 17 this year. The company's counter has fallen over 8 per cent from its recent peak of ₹421, which it hit last month. The stock has risen 12.5 per cent this year, compared to a 3.89 per cent advance in the benchmark Nifty50. The company has a market capitalisation of ₹1.01 trillion, according to BSE data. Indus Tower Q4FY25 Results analysis The company reported a net profit of ₹1,779 crore for the March quarter, registering a decline of 4 per cent Y-o-Y. The revenue for the just-ended quarter came in at ₹7,727 crore, up 7.4 per cent, compared to the same period last year. The Q4 FY25 had a provision of ₹226 crore for doubtful receivables, aided by collections against past due. For the full year ended March 2025, the consolidated revenues stood at ₹30,123 crore, up 5.3 per cent. The consolidated profit after tax was ₹9,932 crore, up 64.5 per cent. Also Read It said the industry developments during the year have only strengthened the outlook for the company and the sector. The company exuded confidence about maintaining the "momentum" by capitalising on customers' network expansion and available strategic opportunities. Indus Tower management commentary 'Financial Year 2025 was another excellent year for us, marked by a strong all-round performance,' said Prachur Sah, Managing Director and CEO of Indus Towers Ltd. 'We achieved one of our highest-ever tower and co-location additions, securing a major share of our customers' rollouts. The acquisition of a key tower portfolio further reflects our agility in driving growth.' Sah added that this momentum supported the company's robust financial performance, including healthy cash flow generation. 'I'm also pleased that our continued engagement with a major customer led to the recovery of its outstanding dues this year,' he said. About Indus Towers The company is a provider of tower and related infrastructure sharing services. It is one of the largest telecom tower companies in India based on the number of towers and co-locations operated by the company. As of March 31 2024, Indus Towers owned and operated 2,19,736 towers with 3,68,588 co-locations in 18 telecommunication circles.
Mint
01-05-2025
- Business
- Mint
Indus Towers downplays satellite internet impact on operations
Over a month after Bharti Airtel and Jio signed agreements with SpaceX to distribute Starlink satellite internet services in India, Indus Towers—the country's leading telecom infrastructure provider—said it does not anticipate any impact on its operations from such developments. 'Based on our discussions with telecom operators, there are limitations and commercial constraints as far as satellite technology is concerned," Prachur Sah, managing director and CEO of Indus Towers, said during a call with analysts on Thursday to discuss the January-March quarter earnings. 'So, we don't see any risk for the terrestrial networks in the foreseeable future and I don't expect that to impact us any time soon," he added. Also read: Indus Towers Q4 Results: Net profit drops 4% to ₹ 1,779 crore, revenue rises 7.4% YoY Comments from Sah assume significance as there were concerns that its tower infrastructure business could get affected once satellite internet services tap the Indian markets. This is because satellite internet beams connectivity directly from satellites to user terminals, thereby reducing the dependence on tower infrastructure for connectivity especially in rural markets in the long run, according to analysts. Further, the company's stock also witnessed selling pressure and fell 8% on 12 March after telecom operators announced partnerships with SpaceX. Analysts, however, do not expect Starlink to be disruptive to Indian telecom companies at least in the near-to-medium term. 'Starlink is unlikely to be disruptive for three reasons. Its capacity constraints will necessitate premium pricing, it needs telco tie-ups for distribution/installation and backhaul, and the government also seems to be inclined to balance the interests of telcos and satellite operators," said brokerage Jefferies in a note dated 27 March. Indus Towers is a subsidiary of Bharti Airtel, which owns 50% in the company. Besides Airtel, the tower company also counts Vodafone Idea as one of its major customers. In March, Vodafone Idea had cleared all undisputed overdue amounts to Indus Towers, thereby helping the towers company increase its operating free cash flow by 73% year-on-year (y-o-y) to ₹ 1,257 crore in the January-March quarter. 'Our continued engagement with a major customer (Vodafone Idea) ensured recovery of its overdues this year," Sah said. In FY25, Vodafone Idea cleared about ₹ 5,100 crore dues it owed to Indus Towers. 'Given that now we have the backlog issue behind us…the strategy includes aggressively pursuing market share through both organic and inorganic routes as demonstrated by our acquisition of Bharti Airtel's towers. With the scale of Indus, we are working on transforming our site infrastructure and leveraging digital solutions and AI to create new benchmarks of performance," Sah said, adding that this would encourage customers to move tenancies to Indus. Also read: Amazon wants to be a satellite-internet powerhouse. It has a long way to go. During the quarter, analysts had expected Indus Towers to announce dividends for its shareholders. However, the company said it has formed a committee to assess the modalities of cash distribution to the shareholders, and it will soon make disclosures to the exchanges on the same. Last year, the company conducted a ₹ 2,640 crore share buyback—its first since 2016. On its announcement to foray into the electric vehicle (EV) charging infrastructure space in the preceding quarter, Sah said the company is conducting the commercial pilot and based on that it will take a call whether to expand or hold back the same. In the January-March quarter, Indus Towers revenue from operations grew 7.4% y-o-y to ₹ 7,727 crore on the back of growth in network rollout by telecom operators amid higher data consumption trends. The company's net profit fell 4% to ₹ 1,779 crore owing to the impact of operating expenses and depreciation. During the quarter, the company acquired 12,774 towers worth ₹ 2,174 crore from Bharti Airtel. As on 31 March 2025, Indus Towers had 249,305 towers, adding 14,662 from a quarter ago and 29,569 from the year ago period. Its co-locations were at 405,435, up 18,616 from the previous quarter and 36,847 from the year ago. Co-locations mean the number of telecom operators (or tenants) that have installed their equipment on a single tower. An increase in co-locations leads to higher recurring revenue for tower companies like Indus Towers. On Thursday, shares of Indus Towers ended up 1.3% at ₹ 408.05 on the BSE. Also read: Amazon's Project Kuiper internet network satellites: How much will it cost? Can it compete with SpaceX Starlink?
