Latest news with #Sterlite
Time of India
24-05-2025
- Politics
- Time of India
Sterlite killings: NGO urges TN to conclude action against officials
Madurai: The Tamil Nadu govt has been urged to complete the pending disciplinary proceedings against the 17 revenue and police officers involved in opening fire on anti-Sterlite protesters in Tuticorin district, and place them under suspension so that none of them are allowed to retire without facing the consequences of their actions. In a statement, executive director of NGO, People's Watch, Henri Tiphagne also urged chief minister M K Stalin to seek the closure of the CBI probe ordered by the Madras high court and entrust the investigation to a highly competent team of police officials, preferably monitored by a highly reputed independent senior police officer from outside Tamil Nadu, comprising senior officers of the rank of DGP. This is because several IPS officers and IAS officers were found to be responsible for the injuries and the killings in Tuticorin. Tiphagne said that Justice Aruna Jagadeesan Commission, which probed the 2018 Sterlite killings, submitted a report to the govt in 2022. He stated that while the Tamil Nadu assembly adopted the report in May 2022 and consequential orders were passed by the state govt, it is shocking that despite three years passing, the disciplinary proceedings against the police and revenue authorities are still pending. Get the latest lifestyle updates on Times of India, along with Brother's Day wishes , messages and quotes !
New Indian Express
24-05-2025
- Politics
- New Indian Express
Activist Mugilan acquitted of sedition charges in 2017 case
KARUR: Environment activist R S Mugilan, who has staged several protests including against the Sterlite plant in Thoothukudi and the nuclear power plant at Kudankulam, was acquitted of sedition charges by the chief judicial magistrate court on Friday. The case relates to a speech Mugilan made in April 2017 at a public meeting in Seethapatti Colony in Aravakurichi. In December 2017, a case was booked and Mugilan was arrested under Sections 124(A), 153(A)(1), and 505(1)(b) of IPC. He was granted bail in September 2018. During the final hearing on Friday, the judge found no evidence against Mugilan and acquitted him of all charges. Speaking to reporters, Mugilan said, 'I was charged falsely for speaking about illegal sand mining in the Cauvery river, and the importance of caste and religious harmony. I am glad justice has been served.' Mugilan has faced several cases. In 2019, he was arrested based on a sexual assault complaint lodged by a 32-year-old woman in Karur. He was granted bail by the Madurai Bench of the Madras High Court in November 2019.
New Indian Express
23-05-2025
- Politics
- New Indian Express
Thoothukudi sterlite police firing: activists say no action on cops who fired even after seven years
THOOTHUKUDI: Anger against the state government came to the fore on Thursday as Thoothukudi remembered the 15 people who died in police firing on May 22, 2018, when they were marching in a procession towards the collectorate on the 100th day of a protest against the Sterlite copper smelter plant. Activists questioned the government's 'inaction' against the police who opened fire, and for not dismantling the plant. Activists led by Basil Kosta paid homage to the victims at Fatima Nagar. Speaking on the occasion, M Krishnamoorthy, coordinator of Thoothukudi Anti-Sterlite People Federation, said eight demands, including withdrawal of cases against protesters and delisting them from history sheet register, have not been addressed. 'The suspected killers identified by the Aruna Jegadeesan committee have not been punished yet. Even though action has been taken against accused in Sathankulam custodial torture case and Pollachi sexual abuse case, the accused in Sterlite firing have not been brought before the court. Also, the Sterlite plant had not been dismantled', he said. Retired professor Fatima Babu, who paid homage on behalf of Anti-Sterlite People's Movement at Trespuram, said the state is hesitant to dismantle the plant even after the Supreme Court vindicated the permanent closure. Hari Ragavan, an advocate, cited CM Stalin, saying 'The killer police have been let scot free and elevated to higher posts. The smelter has not been dismantled.' Activists said their other demands such as declaring May 22 as environment protection day, and construction of a memorial for the victims have not been fulfilled.
The Hindu
22-05-2025
- Politics
- The Hindu
Anti-Sterlite protest firing's seventh anniversary observed in Thoothukudi
The seventh anniversary of police firing on protestors, who opposed the Sterlite Copper Plant in Thoothukudi, was observed in the district on Thursday. Members of various political parties and anti-Sterlite movement organisations paid floral tribute to the portraits of 13 persons killed in the firing. The protest against the Sterlite Copper Plant in Thoothukudi, which was held on May 22, 2018, ended with a tragic police firing on the rallyists opposing the Sterlite Copper Plant. The police opened fire and conducted charges, resulting in the death of 13 people and injuries to many. Following the outrage, the State ordered the closure of the Sterlite plant, and the Supreme court later upheld the decision of the state. To mark the seventh anniversary, a remembrance event led by Thoothukudi Corporation Mayor Jegan Periyasamy, was held. DMK party members paid floral tribute to the portraits of the deceased persons. At the CPI(M) office in Masilamanipuram, District Secretary K.P. Arumugam led a memorial event, where the party members paid homage. Representatives of Anti-Sterlite Thoothukudi District People Federation, co-ordinator M. Krishnamoorthy visited the gravesites. Remembrance events were also held in Kumarettiyapuram, South Veerapandiyapuram, Madaththur, Sileverpuram, Fatima Nagar and Boobalarayapuram. In a post on 'X' Thoothukudi MP Kanimozhi Karunanidhi said that, 'A dark day under the former AIADMK government's tenure, when people protesting for the closure of the Sterlite Plant were shot down to protect corporate interests. Today, we remember the 13 martyrs who sacrificed their lives for their rights. The wounds left by the bullets that shot them still remain in our hearts and will never be forgotten.'
Yahoo
19-05-2025
- Business
- Yahoo
Sterlite Technologies Ltd (BOM:532374) Q4 2025 Earnings Call Highlights: Navigating Market ...
Release Date: May 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sterlite Technologies Ltd (BOM:532374) has maintained a stable 8% market share in the global optical fiber cable market outside China. The company has achieved a significant year-on-year expansion in optical connectivity attached rates, increasing from 13% to 22%. Sterlite Technologies Ltd (BOM:532374) is well-positioned to capitalize on the growing demand for optical fibers, driven by 5G, FTTX, and data centers. The company has a strong innovation engine with 740 patents and 76 new filings in the year, focusing on next-gen capabilities like hollow core fiber and AI-driven fiber sensing. Sterlite Technologies Ltd (BOM:532374) is committed to sustainability, aiming for net zero by 2030 and has already installed 4,500 kilowatts of solar capacity. The company faces challenges from tariffs imposed by the US and Europe, which could impact profitability. Sterlite Technologies Ltd (BOM:532374) has seen a decline in global market share from 11% to 8%, indicating competitive pressures. The BEAD program in the US, which could drive demand, faces potential delays and uncertainties regarding its rollout. The company has a high net debt of 1,350 crore, with a debt to equity ratio of 0.68 times, which it aims to reduce. Shareholder returns have been a concern, with equity returns for minority shareholders being described as 'pathetic' by an investor. Warning! GuruFocus has detected 4 Warning Signs with BOM:532374. Q: How will the recent US tariff on optical fiber impact Sterlite Technologies? A: Ankit Agarwal, Managing Director, explained that while the tariff poses challenges, Sterlite is appealing the decision with the European Commission. The company is focusing on cost structures in India, Italy, and the US to remain competitive. They are optimistic about passing some costs to customers as demand in North America improves. Additionally, US customers are showing interest in sourcing from Sterlite's US and Indian facilities. Q: What is the timeline for Sterlite Technologies to regain its lost market share? A: Ankit Agarwal stated that the company is well-positioned with its capacities and product portfolio. As demand returns, they aim to increase utilization from 50% to 70%, which should improve EBITDA margins from 14% to 20%. The goal is to be among the top three global players in the optical business within 3 to 5 years. Q: How will changes in the US BEAD program affect Sterlite Technologies? A: Ankit Agarwal noted that while there are ongoing discussions about the program's specifics, Sterlite expects the BEAD program to progress, potentially starting in Q4 this year or Q1 next year. The company is focusing on current and new customers to drive growth and anticipates that simplified permitting processes in the US could accelerate infrastructure build-outs. Q: What is Sterlite Technologies' strategy for the data center market? A: Ankit Agarwal highlighted that Sterlite is developing an end-to-end solution for passive connectivity in data centers. They have a strong portfolio for inter-data center connectivity and are working on technologies for within data centers. The company aims to derive 25% of its revenue from the data center and enterprise segments in the coming quarters. Q: How does Sterlite Technologies plan to address shareholder concerns about equity returns? A: Ajayjanjari, CFO, emphasized that Sterlite is focused on improving margins and generating cash to enhance shareholder value. The company is targeting a net debt to EBITDA ratio below 2 and is committed to leveraging its optical business and STL Digital to drive growth and profitability. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
