5 Minutes Read

BMC begins audit of all hoardings, says GRP permitted ‘illegal’ billboard in Ghatkopar

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The BMC claimed that they had filed an FIR against Ego Media in 2023 and it was police’s responsibility after that.
The BMC claimed that they had filed an FIR against Ego Media in 2023 and it was police’s responsibility after that.

In the aftermath of the devastating collapse of a billboard in Mumbai’s Ghatkopar, claiming the lives of 14 and leaving over 30 injured, authorities are embroiled in a dispute over accountability. The Brihanmumbai Municipal Corporation (BMC) pointed fingers at the Government Railway Police (GRP), alleging that the tragedy was exacerbated by their approval of the billboard installation.

Sudhakar Shinde, Additional Commissioner of BMC, told CNBC-TV18 that the corporation has initiated a comprehensive audit of all billboards across Mumbai, with the removal of illegal structures already underway. Regarding the collapsed hoarding, he said that the land in question belonged to the GRP, and neither the police nor the advertising agency sought permission from the BMC.

“We contested this in court, asserting that any authority authorising billboards must involve the BMC and share rental proceeds. However, the court ruled in favour of the GRP. BMC has now challenged this decision in the Supreme Court,” Shinde explained.

Responding to criticisms about BMC’s failure to act on the illegal hoarding, Shinde said that the Bombay High Court had previously ruled that the corporation lacked jurisdiction over the billboard situated on GRP land. However, following the tragedy and under the Disaster Management Act, BMC can now intervene since its their jurisdiction.

GRP Commissioner Ravindra Sisave confirmed that an internal inquiry has been launched, acknowledging the authorisation granted to Ego Media for the billboard’s installation over a decade ago. However, he refuted claims that the GRP had received notices to penalize the advertising agency.

Amidst the blame-shifting, GRP’s assertion that permission was granted by the former commissioner, Qaiser Khalid, contrasts with BMC’s documentation indicating their communication with the police department to remove the illegal structure and take action against Ego Media.

The BMC claimed that they had filed an FIR against Ego Media in 2023 and it was police’s responsibility after that.

The fatal incident occurred when a 100-foot tall billboard collapsed onto a petrol pump in Ghatkopar, an area where civic officials deemed the hoarding illegal due to its lack of BMC authorisation. Mumbai Municipal Corporation commissioner Bhushan Gagrani reiterated the illegality of the hoarding, emphasising that the incident site hosted multiple billboards, one of which collapsed tragically.

According to BMC officials, the hoarding measuring 120 x 120 feet crashed on the petrol pump at around 4:30 pm. An official said the civic body doesn’t permit any hoarding measuring above 40 x 40 feet.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Mumbai: High sea waves till Sunday night, BMC issues advisory

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

IMD and INCOIS have issued an alert indicating that the sea will be dominated by high-energy swell waves along the nearshore/beach areas. This alert will remain into effect for 36 hours till Sunday night.

In the latest advisory, the Brihanmumbai Municipal Corporation (BMC) on Saturday cautioned people from entering the sea amid warnings about high tide till Sunday night.

The civic body said that the city will witness a ‘swell of surge waves’ starting from 11.30 am on Saturday and it will last till 11.30 pm on Sunday.

“The Indian Meteorological Department (IMD) and the Indian National Center for Ocean Information Services (INCOIS) have issued an alert indicating that the sea will be dominated by high-energy swell waves along the nearshore/beach areas,” read a post on the official X handle of the BMC.


This alert will remain in effect for 36 hours till Sunday night, it added.

During this time, shore areas and low-lying areas may experience the combined effect of the swell waves, the height of which may reach up to 0.5 to 1.5 meters.

“As a precautionary measure, citizens are advised to refrain from entering the sea during the next 36 hours,” the civic body stated.

It has further asked fishermen to exercise caution.

The civic personnel have been asked by the BMC commissioner Bhushan Gagarin to coordinate with the police, while security guards at beaches in the city have been ordered to not allow people from entering the waters till Sunday night.

It further stated that extra precautions are recommended, particularly due to the rising number of tourists visiting beaches across Mumbai city during the summer vacation.

Meanwhile, people residing in coastal areas have been asked to remain cautious.

“Fisherfolk along the coast are urged to keep their boats at a safe distance on the shore during this period to prevent damage from collisions. Additionally, precautions are advised while fishing in the sea. Small vessels may navigate nearshore with due caution,” read the BMC advisory on X.

Also, citizens have been appealed to cooperate with security guards, lifeguards, and other deployed agencies on the beaches and near the seashore.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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9,000 BMC employees get Re 1 salary for March — Here’s why

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

The reason was the employees’ failure to link their PAN and Aadhaar cards before March 31 as mandated by the income tax department.

Around 9,000 employees at Brihanmumbai Municipal Corporation (BMC) received only Re 1 as their salary for March. Those affected were particularly those in the conservancy and solid waste management departments.

The reason for this was the employees’ failure to link their PAN and Aadhaar cards before March 31 as mandated by the income tax department, the Hindustan Times reported.

Here’s a step-by-step guide on linking PAN and Aadhaar card:

  • Visit the Income Tax (I-T) Department e-filing portal (incometaxindiaefiling.gov.in).
  • Go to the ‘Link Aadhaar’ option on the left side of the page opened after logging in.
  • You will be taken to a page wherein you will have to fill up your details. Before that, you can check if you have already linked your PAN with Aadhaar by clicking on the link “View Aadhaar link status” at the top of the page. You can check by putting your PAN and Aadhaar numbers in the concerned boxes and clicking on the “View Aadhaar link status” bar. If it is already linked, you will get a message, “Your PAN is linked to Aadhaar Number”.
  • If not registered, go back and fill the online form with the required details like PAN and Aadhaar numbers, and name as per your Aadhaar card. You will also get an option to declare if your year of birth is mentioned only on the Aadhaar card.
  • Then you will have to click on a box saying, “I agree to validate my Aadhaar” and enter the captcha code seen on your screen. Visually challenged applicants can request a one-time password (OTP).
  • Finally, click on the “Link Aadhaar” button. You will get a message that the request “has been sent to UADAI” for validation. You can check the status later by logging in to the above-mentioned portal.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Parts of South Mumbai witness power outage for second day due to high demand

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Summary

Due to the power outage, Crawford Market, Marine Lines, and areas near CST Station have been affected for the last two days.

Multiple areas in South Mumbai faced power outages on Friday, March 29, for the second consecutive day after a 33 kilovolt (KV) feeder receiving station of electricity supplier Brihanmumbai Electric Supply & Transport (BEST) tripped due to high power demand. The affected areas include Crawford Market, Marine Lines, and areas near CST Station.

A similar power outage was witnessed on Thursday, and the power was restored after repair work at the receiving station. High power demand caused a fault again on Friday, following which the restoration work is ongoing.

In a statement, BEST said, “The 33-kilovolt (KV) feeder from TATA Power’s Carnac Bunder facility that comes to the G T Hospital receiving station of BEST tripped. Today (Friday) is the second consecutive day that parts of South Mumbai are witnessing power outages. Yesterday (Thursday), the street lights also didn’t have any power supply.”

Tata Power said that the same location as Thursday has witnessed supply disruptions due to BEST’s 33KV cable fault. The restoration work is being carried out by the BEST South team, it added.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Bhushan Gagrani replaces Iqbal Chahal to take charge as BMC Commissioner

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Election Commission of India (ECI) ordered the transfer of Iqbal Singh Chahal as the BMC Commissioner on Monday, March 18.

Bhushan Gagrani took charge as the Commissioner of Brihanmumbai Municipal Corporation (BMC) after being appointed by the Election Commission of India on Wednesday, March 20. Saurabh Rao and Kailas Shinde have also been appointed as the Municipal Commissioners of Thane and Navi Mumbai, respectively by the Election Commission.

The commission has also transferred two additional commissioners, P Velrasu and Ashwini Bhide, who had been heading the Mumbai Coastal Road project. Abhijit Bangar and Amit Saini have replaced Velrasu and Bhide as additional commissioners.

The Commission has also directed that these officers shall not hold any additional charge outside their respective corporation.

The veteran officer was promoted as additional chief secretary to the CM Eknath Shinde in July 2022. A 1990-batch IAS officer, Gagrani has served as the state urban development secretary when Eknath Shinde headed the ministry. He was also the principal secretary to Uddhav Thackeray when he was the Chief Minister of Maharashtra and was a part of the Chief Minister’s Office (CMO).

However, Gagrani was moved out from the CMO in relation to a Right to Information (RTI) query. He was also a part of the Covid-19 task force formed by the erstwhile Maha Vikas Aghadi (MVA) government.

The appointment has come after the constitutional body ordered the transfer of Iqbal Singh Chahal as the BMC Commissioner on Monday, March 18. It also issued the order to transfer home secretaries of six states and West Bengal DGP Rajeev Kumar.

The Election Commission had ordered transfer of the officials who finished a term of three years at their posting or are posted at their home stations.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Veritas India, Genesys International receive LoA from BMC of ₹156 crore order

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The project entails the creation of a unified mapping platform, incorporating various layers such as the 3D reality mesh model , base map with advanced features and street imaging , Digital Surface Model (DSM), Digital Terrain Model (DTM) along with a change detection map.

Veritas (India) Ltd in consortium with Genesys International Corporation Ltd has received a Letter of Acceptance from Brihanmumbai Municipal Corporation (BMC) of nearly 156 crore for the Development, Implementation, and Maintenance of 3D City model and Change Detection using Geospatial Technology for the Mumbai municipal body.

“We would like to inform that Veritas (India) Limited in Consortium with Genesys International Corporation Limited has received Letter of Acceptance from Brihanmumbai Municipal Corporation (“BMC”) of 155.85 crores for Development, Implementation, Maintenance of 3D City model & Change Detection using Geospatial Technology for BMC,” the company said in a filing.

The project entails the creation of a unified mapping platform, incorporating various layers such as the 3D reality mesh model , base map with advanced features and street imaging , Digital Surface Model (DSM), Digital Terrain Model (DTM) along with a change detection map. These tools will empower municipal departments, government agencies, and citizens to make informed decisions that contribute to the city’s growth.

Commenting on the significance of this partnership, Sajid Malik, CMD of Genesys International Corporation Ltd., expressed his enthusiasm, stating, “This contract marks a significant milestone for both Genesys International and the digital transformation of Mumbai. With this monumental opportunity, we look forward to leading Mumbai into a new era of development, where our advanced geospatial solutions will not only redefine urban planning but also foster sustainable growth and an enhanced quality of life for its residents. We are committed to leveraging our expertise in geospatial technology to support the city’s development efforts.”

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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 5 Minutes Read

DB Realty shares drop 5% after renting out 187-acre land in Mumbai to BMC

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

DB Realty announced that it has handed over an unused land of 187 acres in Mira Road to BMC at a licence fee of approximately ₹248 crore every year for five years.

DB Realty Ltd shares fell by over 5% on Monday after the company announced that it had handed over 187 acres in Mumbai’s Mira Road to Brihanmumbai Municipal Corporation (BMC). At 1 pm, the company share were trading at ₹268.85 per piece, down 5.11%.

The company announced that it has handed over an unused land of 187 acres in Mira Road to BMC at a licence fee of approximately ₹248 crore every year for five years.

The BMC had invited tenders for hiring land parcels to set up casting yards and allied works for its multiple important projects. This tender opened on February 22, 2024.

DB Realty informed the bourses that the vacant and undeveloped land packet spanning over 254.99 acres owned by Mira Real Estate Developers, which lies adjacent to Mira Road Railway Station on the Western side, a piece admeasuring 186.52 acres was offered in the above-mentioned tender by BMC.

Mira Real Estate Developers is a partnership firm in which DB Realty or its wholly-owned subsidiary holds a 100% share.

The municipal corporation issued the Letter of Acceptance (LOA) after due diligence on March 11, 2024, in favour of the firm for renting out 186.5 acre of land parcels.

As per the details of the said tender, land measuring 186.52 acre will be handed over to the BMC temporarily on leave and licence for a period of three years. This can later be extended by another two years, at a license fee of ₹248 crore per year for this duration. The said fee is set to be paid on a quarterly basis by BMC to Mira Mira Real Estate.

On Friday, DB Realty launched its Qualified Institutional Placement (QIP) for raising capital for business expansion and debt repayment, with the total size projected to be around ₹1,500 crore, along with an indicative price of ₹258 per share, according to CNBC-TV18 sources.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
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Welspun Enterprises shares surge after getting ₹4,123 crore order from BMC

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

With this order, the company’s outstanding order book is now at ₹12,650 crore, of which ₹9,750 crore is from the water sector and the rest is from the road sector.

Shares of Welspun Enterprises Ltd. surged as much as 8% on Friday after the company received the Letter of Acceptance (LoA) from the BMC for a 2,000 MLD water treatment plant at Bhandup in suburban Mumbai, the company said in an exchange filing.

The total value of the order is said to be worth ₹4,123 crore. Welspun Enterprises had emerged as the lowest (L1) bidder for the said order earlier this month, based on its exchange announcement on February 7.

With this order, the company’s outstanding order book is now at ₹12,650 crore, of which ₹9,750 crore is from the water sector and the rest is from the road sector. The order book also consists of ₹3,677 crore worth of O&M and asset replacement.

This project is to be designed and constructed within a period of 48 months and will be operated and maintained for 15 years thereafter.

The proposed water treatment plant, one of the largest in the world in terms of capacity, is located at BMC’s Bhandup Complex, which currently supplies drinking water to Mumbai City through existing Water Treatment Plants.

Currently, Welspun Enterprises is executing like the government’s Jal Jeevan Mission in Uttar Pradesh covering around 2,500 villages and the 418 MLD waste water treatment facility at Dharavi.

“With the Bhandup WTP project, WEL has expanded its portfolio to encompass a comprehensive range of solutions across the entire water spectrum. The water sector continues to be one of the key focus areas for us and this order synergises well with our overall growth strategy,” said Sandeep Garg, the company’s Managing Director.

Shares of Welspun Enterprises are trading 5.4% higher at ₹331.70. The stock has risen 165% over the last 12 months.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Should Elon Musk be able to buy Twitter?

 5 Minutes Read

BMC announces highest ever annual budget at ₹59,954 crore and separate climate budget

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

The BMC has slated various infrastructure projects like the Mumbai coastal road, its extensions, Goregaon twin tunnel and others along with beautification projects. The annual budget is 10.5% higher than the last year.

Mumbai’s civic body, the Brihanmumbai Municipal Corporation (BMC), on Friday, February 2, announced its annual budget allocation for fiscal year 2024-25 at ₹59,954 crore. This is the highest allocation ever with a capital expenditure of Rs Rs 31,774.59 crore and revenue expenditure of ₹28,121.94 crore.

BMC, which is also India’s richest civic body, has slated various infrastructure projects like the Mumbai coastal road, its extensions, Goregaon twin tunnel and others along with beautification projects. The annual budget is 10.5% higher than the last year.

BEST EVs

In a bid to electrify public transportation, the BMC has allotted a total budget provision of ₹928.65 crore as a grant to the Brihanmumbai Electric Supply and Transport (BEST). Of the total, ₹800 crore is to meet the expenditure on infrastructural development and purchase of capital equipment, purchase of new buses on wet lease basis, day-to-day expenses and payment of Diwali bonuses.

For procurement and deployment of 2000 electric buses within Mumbai, the BMC will be funding ₹128.65 crore. The rest of the funding for the project, which has been pegged at ₹2,573 crore is expected from the World Bank in the form of a soft loan.

Coastal Road Project

Two of the four packages of the behemoth infrastructure project, a part of the Mumbai Coastal Road will be open to public by February end. The project could fully be open from May. A budget provision of ₹2,900 crore has been proposed to meet the compensation of the Worli fishermen along with installation of CCTV, Video Managing System, Emergency Communication Systems.

The BMC will also be making an underground parking area at the Coastal Road Project along with a green belt for recreational facilities.

Other prominent projects include concretisation of roads. As per the budget document, about 209 km roads are proposed to be improved in cement concrete in the ensuing year 2024-25. Prominent roads like Veer Nariman Road, Kuprej Road in City, Dayaldas Road, Link Road, Goregaon Mulund Link Road, Road towards Goregaon in Western Suburb, Bajiprabhu Deshpande Marg, Chheda Nagar Road No.1, P. Somani Marg, Raheja Vihar Road in Eastern Suburbs are proposed for improvement in 2024-25.

Climate Budget

The BMC will start a ‘Green Budget Book’ which will be a dedicated climate budget for the city. This will have initiative for systematically reducing emissions and enhancing climate resilience.

The book will have initiatives like developing gardens, implementimg MCAP strategies alongwith projects like Renewable Hybrid Energy and waste to energy plans.

This comes as the city has been struggling with worst air quality ever.

Education budget

The education budget has been set at ₹3,497 crore, up from last year’s ₹3,370 crore. This year, the budget plan includes a ₹4.5 crore provision to establish an innovative mathematics and science centre in primary sections of 25 schools on pilot basis. Along with this the BMC will provide modern school dictionary to around 1.7 lakh students from classes V to X, establish open gymnasiums in 200 schools, preserve documents in digitized formats, and procure medium-wide grammar books for students in classes IX and X.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

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today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?

 5 Minutes Read

Mumbai’s Sion overbridge to be shut from January 20; Check alternate routes you can take

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

 Listen to the Article (6 Minutes)

Summary

Sion overbridge is a crucial link to Dharavi, LBS Marg and Eastern Express Highway. It will be reconstructed by January 2026.

The Central Railway will start demolishing the Sion Road overbridge on Saturday. The British-era overbridge is a crucial link to Dharavi, LBS Marg, and the Eastern Express Highway. It will be reconstructed in the next two years to allow more space for the laying of the fifth and sixth lines between CSMT and Kurla stations, The Times of India reported.

The reconstruction work is expected to be completed by January 2026.

Swapnil Nila, Central Railway’s chief public relations officer, said that approval has been received from the Mumbai Traffic Police, adding that the demolition will start on Saturday (January 20).

By segregating Mail/Express and suburban train traffic, the fifth and sixth Central Railway lines will facilitate the operation of additional suburban services along the current fast corridors. They will be extended up to CSMT in two stages; at present, they are located between LTT in Kurla and Kalyan.

At Sion station, the lines are to be laid to the west of the current tracks, the TOI report stated.

The pillars of the bridge occupy the area of the proposed tracks. These pillars will be shifted to make room for the tracks.

While the Central Railway will undertake work on the portion above the tracks, the BMC might take up work on the approach stretches for rebuilding the overbridge.

Because of the demolition of the Sion overbridge by the Central Railway Authority, the Mumbai Traffic Police has made changes in the traffic arrangement that will remain in place from January 20 till May 1, temporarily.


Traffic diversion due to the closure of the Sion overbridge:

  1. Vehicular traffic from Dr. BA Road southbound, Sion Junction, will take a right turn from Sion Circle-Sion Hospital junction and shall proceed through Sulochana Shetty Road-Kumbharwada Junction to their desired destination to –
  2. A) Towards Kurla and Dharavi – Take a right turn from Kumbharwada Junction through KK Krishnan Menan Marg (90 ft.) road to Ashok Mill Naka and shall take a right turn to go through St. Rohidas Marg to Paliwan Naresh Mane Chauk and shall take a left turn to their desire location.
  3. B) Western Express and towards Bandra – From Kumbharwada Junction to Kemkar Chauk through KK Krishnan Menan Marg (90 ft.) road, shall take a right turn on Kemkar Chauk to go T-Junction through Sion-Mahim Link Road. Shall take a left turn on T-Junction towards Kalanagar Junction to their desired destination.
  4. C) Towards Mahim – 1. Shall take a left turn on Kumbharwada Junction to Matunga Labour Camp – T.H Kataria Marg and shall proceed through to their desired destination. 2. Kumbharwada Junction – KK Krishnan Menan Marg (90 ft.) road Kemkar Chauk shall take a left turn -SL Raheja Marg to their desired destination.
  5. Vehicular traffic from Dr B.A. Road Northbound, Sion junction shall take a left turn from Sion Hospital junction and shall proceed through Sulochana Shetty Road Kumbharwada Junction to their desired destination –
  6. A) Towards Kurla and Dharavi – Shall take a right turn on Kumbharwada Junction and shall proceed through KK Krishnan Menan Marg (90 ft.) road to Ashok Mill Naka and shall take a right turn and shall proceed through St. Rohidas Marg to Pailwan Naresh Mane Chauk, shall take a left turn to their desire destination.
  7. B) Western Express and towards Bandra – On Kumbharwada Junction shall proceed through St. Kabir Marg (60 ft) road to Kemkar Chauk and shall take a right turn proceed through Sion Mahim Link Road and shall take a left turn on T-Junction towards Kalanagar Junction to their desire destination.
  8. Vehicular traffic i.e. light vehicles (LMV) from Kurla through LBS Road and Saint Rohidas Road through Sion overbridge Eastbound shall take a right turn at Pehalwan Naresh Mane Chowk and shall proceed through Saint Rohidas Road – Ashok Mill Naka – left turn – KK Krishnan Menan Marg (90 ft.) Road – Kumbharwada Junction – left turn – Sulochana Shetty Road – Sion Hospital Bridge (Kumbharwada Bridge) towards their desired destination.
  9. Vehicular traffic i.e. heavy vehicles (HMV) from Kurla through LBS Road and Saint Rohidas Road through Sion overbridge Eastbound shall take a right turn just before Pehalwan Naresh Mane Chowk, Dharavi Kacharpatti Junction signal and shall proceed through Dharavi Depot Road-Sion Bandra Link Road – T junction – Mahim Sion Link Road – Left turn at Kemkar Chowk – St. Kabir Marg (60 ft) Road – Sulochany Shetty Road – Dharavi Railway Bridge Road towards their desired destination.
  10. Vehicular traffic from Western Express and Kalnar Junction proceed through Sion Bandra Link Road – Vehicular traffic shall take a right turn from Dharavi T Junction and shall take a left turn on Kemkar Chauk and shall proceed through St. Kabir Marg (60 ft) Road Kumbharwada Junction and shall proceed through Sion Hospital Bridge (Kumbharwada Bridge) to their desire destination.

 

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

 Daily Newsletter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Previous Article

Oil Fluctuates as Traders Assess China’s Vow, Unrest in Libya

Next Article

Shanghai residents turn to NFTs to record COVID lockdown, combat censorship

LIVE TV

today's market

index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -72.15
sensex ₹1,882.60 +28.30
nifty IT ₹2,206.80 +30.85
nifty bank ₹1,318.95 -14.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95
index Price Change
nifty 50 ₹16,986.00 -7.15
sensex ₹1,882.60 +8.30
nifty IT ₹2,206.80 +3.85
nifty bank ₹1,318.95 -1.95

Currency

Company Price Chng %Chng
Dollar-Rupee 73.3500 0.0000 0.00
Euro-Rupee 89.0980 0.0100 0.01
Pound-Rupee 103.6360 -0.0750 -0.07
Rupee-100 Yen 0.6734 -0.0003 -0.05
Quiz
Powered by
Are you a Crypto Head? It’s time to prove it!
10 Questions · 5 Minutes
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Win WRX (WazirX token) worth Rs. 1500.
Question 1 of 5

What coins do you think will be valuable over next 3 years?

Answer Anonymously

Should Elon Musk be able to buy Twitter?