Latest news with #UGD
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Business Standard
2 days ago
- Business
- Business Standard
Rites share price gains 12% in two days; what's driving investor interest?
Rites share price gained 7 per cent in trade on Thursday, June 5, 2025, logging a day's high at ₹316.15 per share on BSE. The stock gained nearly 12 per cent in two days after the company emerged as lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company. At 12:09 PM, Rites shares were trading 4.99 per cent higher at ₹310.15 per share on the BSE. In comparison, the BSE Sensex was up 0.81 per cent at 81,656.47. The market capitalisation of the company stood at ₹14,932.36 crore. The 52-week high of the stock was at ₹398.5 per share and the 52-week low of the stock was at ₹192.3 per share. In the past one year, Rites shares have lost 3 per cent as compared to Sensex's rise of around 9 per cent. Why were Rites shares in demand? On Tuesday, after market hours, the company informed investors that it has emerged a L1 bidder for appointment of TPI agency for water supply scheme, underground drainage and sewage treatment plant projects for urban local bodies of Gujarat. The order was worth ₹28.5 crore (exclusive of GST) and has to be executed within 60 months. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. "We are pleased to inform you that Rites is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company Limited for 'Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat', the filing read. ALSO READ | About Rites Rites Limited, a Navratna Enterprise under the Ministry of Railways, incorporated on April 26, 1974, is a multidisciplinary engineering and consultancy organisation, providing a comprehensive range of services from concept to commissioning in all facets of transport infrastructure and related technologies. The company's market capitalisation has placed it among the top 500 listed companies in India, a testament to the high-quality solutions and services it delivers, driven by its talented pool of professionals.
Business Standard
4 days ago
- Business
- Business Standard
RITES emerges L1 bidder for a Gujarat Urban Development Company project
RITES is the lowest bidder (L-1) in the financial bid of the QCBS tender floated by Gujarat Urban Development Company for Appointment of TPI agency for WSS/UGD/STP projects under Amrut 2.0/SJMMSVY under GUDC for ULBs of Gujarat. The order is subject to award after the due process of scrutiny and overall evaluation (technical and financial) by the Gujarat Urban Development Company as per the requisite requirements mentioned in the tender documents. The estimated value of the bid is Rs. 28.50 crore excluding GST.
New Indian Express
5 days ago
- Politics
- New Indian Express
Tambaram corporation staff crunch hits command centre success
Ward 38 councillor C Saranya, who belongs to the ruling DMK, criticised the civic body's inefficiency in addressing grievances. She said the civic body does not have the proper equipment to clear the silt from the UGD. 'How can they address the bigger issues that would affect residents,' she asked. AIADMK floor leader G Sankar told TNIE, 'Actually the corporation is struggling with a small number of staff to carry out even their regular duties. When this is the case, how can they address the grievances of residents.' Other councillors also echoed the same view and said that an acute staff shortage in all departments prevented the corporation from addressing the grievances of the public. However, in some cases, residents said the system helped fix accountability on officials and get issues resolved faster. Speaking to TNIE, Murali Deskian of Thiruchendurnagar 2nd Street, who raised a grievance on drainage overflow, said earlier it would take a few days to resolve such complaints but now it was addressed within five hours. 'I wish the same kind of response is maintained for all complaints across the corporation limits.' The officials said that according to the SoP, the grievance is first forwarded to field staff to attend, then to supervisor-level officers to ensure it is addressed, and finally it would be cross-checked by senior officials like assistant engineers. A senior TCMC official said the ICCC allows real-time tracking of civic issues and it helps in improving accountability across departments. 'By integrating service requests and responses, we aim to bring efficiency and transparency to urban governance. Public feedback helps us identify lapses and improve further,' the official said.
Time of India
5 days ago
- Time of India
Man arrested for stealing pipelines from Trichy UGD project
Trichy: Trichy city police have arrested a 24-year-old man for stealing underground drainage (UGD) pipelines installed under Phase III of the Trichy Corporation's ongoing UGD project. Tired of too many ads? go ad free now The accused, identified as M Vasudevan from Keezha Panjapur, was found in possession of around 100 kg of high-grade pipelines, valued at approximately ₹1 lakh. According to a complaint filed by Elangovan, project in-charge for the contracting firm implementing the UGD network, the thefts occurred near the Sewage Treatment Plant (STP) in Panjapur. Since the new network has not yet been commissioned, the pipes remained exposed at various installation sites—making them vulnerable to theft. Police investigations revealed that Vasudevan had been systematically digging up and stealing the pipes since September 2024, intending to sell them to scrap dealers. He was caught red-handed while transporting the stolen materials. "We recovered about 100 kg of UGD pipelines stocked at different locations," an investigating officer said. The accused was remanded in judicial custody on Saturday. Police have stepped up surveillance in project areas, especially those where the UGD system is still under construction, to prevent further incidents.
The Hindu
30-05-2025
- Politics
- The Hindu
Corporation councillors blame officials for not solving underground drainage issues for over three years
Cutting across party lines, the councillors from the ruling and opposition stood together and blamed the officials for not implementing the underground drainage (UGD) project in Dindigul city on Friday. As a result, the members said that the people faced hardships due to sewer flowing on the roads and in low lying areas, the gutter entered dwellings posing health hazards to the residents. The Mayor Illamathi presided in the presence of Deputy Mayor Rajappa and Commissioner Senthil Murugan. Senior officials from the Health, Town Planning, Engineering and other departments were present. The DMK members Janakiraman, Venkatesan and among others joined with the AIADMK member Baskaran, CPI (M) Ganesan and BJP's Dhanapal, who raised the UGD issues faced by the people in the city and with specific problems from their wards. As the pressure mounted unanimously from the elected representatives, the Executive Engineer Karuppiah intervened to say that the Corporation has taken a survey of the wards, where the UGD was functioning. 'We have noted the problems such as pipeline burst, leak in the UGD and incomplete works in the wards. An estimate has been prepared to the tune of Rs 38 crore. As and when the proposals were given approval, works would start within about two months. This would be a permanent solution to the UGD issue,' he summed up. Taxes should be lowered, uniform Though the then AIADMK government announced Dindigul and Thanjavur as Corporations in 2014, the tax slabs were different. While Dindigul residents were slapped with 27 % and it was 7 % for people in Thanjavur city, said councillor Subashini (DMK). The Commissioner said that taxes were decided by the government and not the officials. It is a policy matter to collect taxes on property, water, UGD and among others, he explained. Not convinced, the councillors again said that Dindigul had not got any funds from the Smart City Programs, while many other cities in the State enjoyed the funds from the Union government. The AIADMK and DMK members locked horns for a short period over the non-implementation of basic amenities and infrastructural facilities in the city. There were also heated arguments over the non-functioning of street lights in RM Colony 80 ft Road, Nehruji Nagar and others by Rajmohan (AIADMK). The officials said that it would be replaced soon. The councillors suggested the Mayor to send the minutes of the meeting in advance to them as it would help to prepare and familiarise with the subject. Except the resolution on the UGD, 29 other items tabled in the meeting were passed.
