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Former Tamil Nadu minister Senthil Balaji’s remand extended till April 17

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

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Summary

Balaji was arrested by the Enforcement Directorate in connection with the money laundering case linked to a cash-for-jobs scam when he was the Transport Minister during an earlier AIADMK regime.

A sessions court on Monday, April 15, extended former Tamil Nadu Minister V Senthil Balaji’s remand till April 17. He was arrested by the ED in June, 2023 in a money laundering case.

Principal Sessions Judge S Alli, before whom the DMK leader was produced by the prosecution through video-conferencing from the Central Puzhal Prison here, extended his judicial custody till April 17.

Meanwhile, the judge would pronounce orders on Wednesday, on a petition filed by Balaji, which sought to re-open the arguments on his side in his discharge petition in the case. His arguments were closed on March 22.

Balaji was arrested by the Enforcement Directorate in connection with the money laundering case linked to a cash-for-jobs scam when he was the Transport Minister during an earlier AIADMK regime.

His multiple bail please have been rejected by the courts so far.

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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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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Brigade Enterprises to invest ₹400 crore in commercial project in Chennai

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

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Summary

The project is set to feature two towers encompassing a total leasable area of 8.36 lakh square feet.

Brigade Enterprises Ltd on Monday announced a new office space project in Chennai, Tamil Nadu. In filing with the stock exchanges, the leading real estate developer said that it has entered into a joint development agreement (JDA) with Agni Estates and Foundations Pvt. Ltd to develop Brigade Tech Boulevard, a ‘Grade A’ office space in the Pallavaram-Thoraipakkam Radial Road area in the capital city of Tamil Nadu.

The company will invest ₹400 crore in the commercial project, Brigade Enterprises informed the bourses.

The project is set to feature two towers encompassing a total leasable area of 8.36 lakh square feet.

“With an investment of around ₹400 crore, the project will have a leasable area of 8.36 lakh sqft, spread across two towers. This will be the next commercial launch by Brigade Group after the successful completion of the landmark ‘World Trade Center’ on OMR,” the company said in a press release.

With this project, Brigade Enterprises aims to cater to the varied demands of Chennai’s diverse sectors including IT, ITeS, engineering, automotive, and banking.

Commenting on the project, Nirupa Shankar, Joint Managing Director, Brigade Enterprises, said, “Chennai is a diverse office market with demand from not only the IT and ITeS sector but also from several other industry verticals including engineering, automotive and banking, etc.”

She added that offices that conform to sustainability, with seamlessly integrated digital connectivity and A Grade office certification are in great demand.

“Brigade Tech Boulevard will be of world-class quality, with a significant focus on sustainability, similar to all our commercial developments across cities. Given the pre-leasing commitments that Radial Road has had in the past, we are confident that the leasing momentum would increase further with this development,” Shankar said.

Meanwhile, RN Jayaprakash, Chairman of Agni Estates and Foundations, highlighted the strategic nature of their partnership with Brigade, noting Brigade’s reputation for delivering projects that enhance asset value and attract top-tier business occupants.

Shares of Brigade Enterprises settled 2% lower at ₹982 apiece on the NSE at closing.

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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Modi manifesto promises the world to the Tamil people

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

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Summary

The latest thrust on Tamil Nadu and its culture is part of Modi’s prolonged focus on garnering votes from Tamil Nadu where his party has had negligible presence so far. The state sends 39 members to the Parliament. 

Indian Prime Minister Narendra has promised to promote Tamil, one of the world’s oldest languages, as part of the Bharatiya Janata Party’s manifesto, also called sankalp patra,  for the upcoming election to the Lok Sabha (the lower house of Indian Parliament).

Thiruvalluvar cultural centres will be set up to elevate the global reputation for Tamil.

The latest thrust on Tamil is part of Modi’s focus on garnering votes from Tamil Nadu where his party has had negligible presence so far. The state sends 39 members to the Parliament.

Modi has visited Tamil Nadu at least seven times in the last two months. The state has, arguably, received an inordinate amount of attention from the Prime Minister who is seeking to increase the BJP’s Lok Sabha tally to beyond 370 out of the total 543 in the Lok Sabha.

ALSO READ: The BJP in Tamil Nadu is a raging startup — but is there a product-market fit?

Who is Thiruvalluvar? 

Thiruvalluvar, commonly known as Valluvar, was an ancient Tamil philosopher known for his wisdom, expressed in 1,330 couplets, on a topics ranging from ethics to economics.

Non-violence is one of the pervasive messages in the Thirukkural, the compilation of Thiruvalluvar’s works. Various estimates date the works between the third and sixth century BC.

The prefix Thiru before the name is usually added as a mark of respect, like Shri in other parts of India.

Modi has been reaching out to the voters in Tamil Nadu for a few years now.

The Hindu identity politics and nationalism that helped BJP become the juggernaut it is in other states of India do not work as well in Tamil Nadu, where the Tamil identity rings louder.

At the 74th session of United Nations General Assembly (UNGA), Modi had recited a 3,000-year-old Tamil quote by philosopher Kaniyan Pungundranar to highlight India’s commitment to inclusive policies.

In January 2022, the PM inaugurated the new campus of the Central Institute of Classical Tamil in Chennai.

Modi has released various translations of the Thirukkural including one in Gujarati as well as Tok Pisin language of Papua New Guinea.

In 2021, the ‘Subramania Bharati Chair’ on Tamil Studies was set up at the Banaras Hindu University in his home constituency, Varanasi.

Subramaniam Bharati is arguably the most famous modern poet from Tamil Nadu known for his revolutionary spirit and progressive views that inspired the freedom struggle in Tamil Nadu.

During his visit to Tokyo, Modi put the spotlight on silk mats made in Pattamadai (part of the Tirunelveli district in Tamil Nadu) by giving it as a gift to his Japanese counterpart.

Modi’s outreach, combined with the party’s promotion at the grassroots by the state party chief K Annamalai, is likely to provide a BJP a significant jump in its vote share in Tamil Nadu in the 2024 Lok Sabha election.

However, these additional votes may not necessarily result in more Lok Sabha seats for the BJP. The opinion poll released by Network18 in March 2024 showed that the National Democratic Alliance (NDA), led by the BJP, may get 5 seats in the state.

The NDA may have been weakened by the exit of a long-term ally, the All India Anna Dravida Munnetra Kazhagam (AIADMK) ahead of the polls.

The more entrenched rival, the Dravida Munnetra Kazhagam (fighting in alliance with BJP’s national rival, the Indian National Congress) may still get the lion’s share of seats in Tamil Nadu, according to the same poll.

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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Tamil New Year Puthandu 2023: Date, history, and wishes to share

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

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Summary

Puthandu, the Tamil New Year, heralds spring and harvest festivities on April 14. Originating during the Chola dynasty, it symbolizes fresh beginnings. Celebrated in Tamil Nadu, Sri Lanka, and globally, it includes kolam decorations, ceremonial platters, vegetarian feasts, traditional cleansing rituals, and devotional songs, fostering community unity and spiritual renewal.

Puthandu, also known as Puthuvarudam, signifies the commencement of the Tamil New Year, marking the advent of spring and honoured as a harvest festival.

Celebrated predominantly by the Tamil populace in Tamil Nadu, Sri Lanka, and globally dispersed Tamil communities, Puthandu aligns with the inaugural day of the Chithirai month as per the Tamil calendar. This year, the festivity falls on April 14, as it customarily does every year.

Historical Origins:

Tracing its roots to the era of the Chola dynasty, which governed Tamil Nadu and adjoining regions of South India from the 9th to the 13th centuries, Puthandu’s inception coincides with the emergence of the Tamil calendar, attributed to the Chola reign.

Significance:

Puthandu garners recognition as a public holiday in Tamil Nadu and Sri Lanka, with certain other states also commemorating the new year on this date.

Though not strictly a religious observance, folklore intertwines Puthandu with the notion of Lord Brahma’s creation of the universe and Lord Indra’s descent to Earth to usher in peace and tranquillity.

Symbolising a new dawn, Puthandu symbolizes hope and rejuvenation, inspiring people to embrace fresh beginnings and embark on auspicious ventures.

Traditions and Festivities:

Preceding Puthandu, households bedeck their surroundings with kolam, intricate patterns crafted from dyed rice flour, symbolizing the invitation of joy and prosperity. On the auspicious day itself, families prepare a ceremonial platter adorned with flowers, mirrors, jewellery, currency, betel leaves, mangoes, and other auspicious items.

A vegetarian feast is meticulously prepared, with younger members seeking the blessings of their elders, fostering familial harmony and reverence. Before or on Puthandu, homes undergo a thorough cleaning, often accompanied by a traditional herbal or turmeric bath for ritualistic purification.

Dressed in new attire, individuals exchange greetings with “Puthandu Vazthukal,” wishing each other a prosperous new year. Devotional hymns resonate throughout the day, accentuating the spiritual fervour of the occasion, as communities come together to celebrate the advent of another year with renewed zeal and optimism.

Here are some wishes to share with family and friends on Puthandu:

  • May this Puthandu bring you abundant joy, prosperity, and success in all your endeavours throughout the year ahead!
  • Wishing you and your loved ones a Tamil New Year filled with laughter, love, and cherished moments that create unforgettable memories. Puthandu Vazthukal! 
  • May the divine blessings of Lord Brahma and the celestial guidance of Lord Indra illuminate your path with peace, harmony, and serenity this Puthandu.
  • As we embark on this new journey, may your life be adorned with the colours of happiness, the fragrance of prosperity, and the melody of success.
  • Let the spirit of Puthandu inspire you to embrace new beginnings, overcome challenges, and pursue your dreams with unwavering determination and optimism.
  • May the traditions of Puthandu strengthen the bonds of family, deepen the ties of friendship, and foster a sense of unity and togetherness among us all.
  • Wishing you a Puthandu filled with bountiful blessings, abundant harvests, and the fulfilment of all your heartfelt aspirations.
  • May the dawn of this Tamil New Year bring renewed hope, rejuvenated spirits, and boundless opportunities for growth and prosperity in your life. Puthandu Vazthukal! 

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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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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ED raids locations linked to sacked DMK member Jaffer Sadiq’s partners in Tamil Nadu

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

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Summary

 The ED searched the premises of the sacked DMK member Sadiq and his partners. The searches are being conducted under the provisions of the Prevention of Money Laundering Act (PMLA).

The Enforcement Directorate on Tuesday, April 9, conducted raids at multiple locations in Tamil Nadu as part of the ongoing investigation into the drug-related money laundering case involving former DMK member Jaffer Sadiq. The raids were conducted at 25 locations in Chennai, Madurai and Tiruchirappalli.

The ED searched the premises of the sacked DMK member Sadiq and his partners. The searches are being conducted under the provisions of the Prevention of Money Laundering Act (PMLA).

Sadiq, who is also a film producer, was arrested last month by the Narcotics Control Bureau (NCB) for his alleged involvement in the smuggling of about 3,500 kg of pseudoephedrine valued at more than 2,000 crore. The NCB is exploring Sadiq’s links with Tamil and Hindi film financers, “high-profile” people and instances of “political funding”.

Subsequently, the central probe agency took cognisance of the NCB case and other FIRs and filed the money laundering case against Sadiq and others.

In February, the ruling DMK sacked Sadiq from the party’s primary membership after NCB mentioned his alleged links with an international drug cartel.

Also Read: ‘Panama Papers’ trial starts, 27 people charged in the worldwide money laundering case

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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Apple to provide houses to employees in India; construction of 78,000 units underway: Report

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

 Listen to the Article (6 Minutes)

Summary

Under the scheme, more than 78,000 units are to be constructed, while about 58,000 of them will come up in the southern state of Tamil Nadu.

Global tech giant Apple‘s contract manufacturers and suppliers, including Tata, Foxconn and Salcomp, are planning homes for their employees, currently being built as part of a public-private partnership scheme.

Under this scheme, more than 78,000 units are to be constructed, government officials told The Economic Times.

Most of these units — about 58,000 — will come up in Tamil Nadu.

After creating 150,000 direct jobs in around two-and-a-half years, the Apple ecosystem is now said to be focusing on providing residential facilities to its factory employees. The tech giant follows this model of industrial housing in countries like China and Vietnam.

Most of these houses are being built by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), the report said, adding that others included in the project are the Tata Group and SPR India.

Under this scheme, the central government will provide 10-15% of the total funding, while the rest of the money will be given by the respective state governments and entrepreneurs.

According to officials, the construction and handover to the private sector are expected to be over in the current fiscal year, which ends on March 31, 2025.

“The massive employee housing is aimed at improving efficiency and providing security, mainly to migrant women employees, majority of whom are in the age group of 19-24 years,” The Economic Times quoted an official as saying.

The official further noted that such an employee housing project at a single location in India, especially for women employees, is a first for the country.

Most of these employees currently reside in rented accommodation and have to travel in buses for hours to reach their office. With a majority of them being women employees, this also risks security issues.

The electronics industry, being location-sensitive, has to be situated near a large airport to ensure easy passage of cargo. The government wants to ensure comfortable housing for these factory workers as most of them belong to different parts of the country, officials noted.

Ministry of Electronics and IT (Meity) secretary S Krishnan told the national daily that the reason it needs to be ensured is that these workers get “good-quality housing somewhere close to the factory as that improves productivity, conditions of work and it also results in better welfare outcomes for the workers”.

Of the total units, 35,000 of them will be utilised by Foxconn, Apple’s largest iPhone supplier in India, based in Sriperumbudur, Tamil Nadu. The company has 41,000 employees, of which 75% are women.

Meanwhile, Tata Electronics is coming up with 11,500 units for its employees at its Hosur facility and Salcomp will utilise 3,969 housing units.

Salcomp manufactures power adaptors, enclosures and magnetics for the US tech giant.

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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Tamil Nadu govt takes centre to SC over natural disaster relief funds dispute

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

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Summary

The state government urged the top court to direct the Centre to provide over ₹37,000 crore in aid for damages caused by recent floods and cyclone Michaung.

The Tamil Nadu government has moved the Supreme Court by filing a lawsuit alleging that its funds for natural disasters are withheld by the Centre. The MK Stalin-led DMK government has invoked Article 131 of the Constitution for filing an original suit against the Centre in the top court.

The Supreme Court has exclusive and original jurisdiction over legal issues between states or between states or states and the union government or their instrumentalities.

The state government urged the top court to direct the Centre to provide over 37,000 crore in aid for damages caused by recent floods and cyclone Michaung. Besides seeking financial assistance of 19,692.69 crore for the damage caused by cyclone Michaung in December last year, the Tamil Nadu government has sought money to the tune of 18,000 crore for losses incurred due to unprecedented rains in southern districts of the state.

The plea also seeks a direction to the Centre to release 2,000 crore as interim measure. Recently, the Karnataka government moved the top court alleging that the Centre was not giving financial assistance to it to meet the challenges faced over a drought situation.

It had sought directions that funds be released from the National Disaster Response Fund.

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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UltraTech Cement to commission 2 new greenfield projects in Chhattishgarh, Tamil Nadu

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

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Summary

The two new projects will have capacities totalling 5.4 million tonnes per annum (MTPA), taking UltraTech’s total cement capacity to 151.6 MTPA.

UltraTech Cement Ltd on Tuesday (April 2) said it is commissioning two new greenfield capacities totalling 5.4 million tonnes per annum (MTPA) in Chhattisgarh and Tamil Nadu, taking the company’s total cement capacity to 151.6 MTPA.

This capacity is more than 150% of the capacity in the United States and 80% of Europe’s capacity. It took 36 years for the cement business of the Aditya Birla Group, to get to a capacity of 100 MTPA, the company said in a stock exchange filing.

UltraTech has subsequently added the next 50 MTPA in less than five years with an investment of around 32,000 crore. Over the past two decades, UltraTech has grown 11x, far outpacing the industry growth of 4x.

Over the last 12 months, UltraTech has expanded its capacity by 18.7 MTPA. In addition to that, the ongoing expansion of 35.5 MTPA is being implemented across 16 locations.

Also Read: Ultratech Cement Q3 result: Profit up over 1.5 times to ₹1,775 cr, revenue at ₹16,740 cr in line with estimate

In addition, the company is in the process of closing the proposed acquisition of Kesoram Cement. This will further augment UltraTech’s grey cement capacity to 198.2 MTPA. UltraTech is committed to a capex of 32,400 crore over the next three years.

Kumar Mangalam Birla, chairman of Aditya Birla Group said, “With a mix of integrated cement plants, grinding units, bulk terminals across 59 locations in India along with 307 ready mix concrete plants, UltraTech’s scale and capacity footprint is unparalleled. And this scale will further enable UltraTech to service India’s growing demand for cement across the country.”

KC Jhanwar, managing director of UltraTech Cement, said, “This achievement is a significant milestone in UltraTech’s transformative growth journey. It has been our constant endeavour to drive sustainable growth by delivering superior value to all stakeholders. India’s strong growth trajectory provides the cement sector significant headroom for long-term growth.”

Also Read: UltraTech Cement Q3 sales volume up 6% to 27.32 million tonnes

Shares of Ultratech Cement Ltd ended at ₹10,039.90, up by ₹83.70, or 0.84% on the BSE.

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
Quiz
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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?

 5 Minutes Read

SC asks Udhayanidhi Stalin how can he approach it under writ jurisdiction for clubbing FIRs

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

 Listen to the Article (6 Minutes)

Summary

A bench of Justice Sanjiv Khanna and Justice Dipankar Datta told the minister that he could have filed a petition in the apex court under section 406 of CrPC, seeking transfer of criminal cases but not under Article 32 of the Constitution which deals with writ jurisdiction.

The Supreme Court on Monday asked Tamil Nadu Minister Udhayanidhi Stalin how he can approach the apex court under writ jurisdiction with his plea for clubbing of multiple FIRs for his “eradicate Sanatan dharma” remark. A bench of Justice Sanjiv Khanna and Justice Dipankar Datta told the minister that he could have filed a petition in the apex court under section 406 of CrPC, seeking transfer of criminal cases but not under Article 32 of the Constitution which deals with writ jurisdiction.

“You see, in some cases, cognisance has been taken and summons have been issued. Judicial proceedings cannot be touched by the Supreme Court under writ jurisdiction,” Justice Datta said. The bench allowed Udhayanidhi Stalin to amend his plea in view of “legal issues” and list the matter in the week commencing on May 6. Senior advocate Abhishek Singhvi, appearing for the Tamil Nadu minister, said the intention behind making the remark was not to make a “political warcry” as it was only a gathering of 30 to 40 people.

Justice Datta referred to the cases Udhayanidhi Stalin has cited, including that involving journalists and political persons, for clubbing of FIRs and said media persons cannot be equated with ministers. Udhayanidhi Stalin, the Minister of Youth Welfare and Sports in Tamil Nadu, is a well-known film actor and son of Chief Minister and DMK chief M K Stalin.

Speaking at a conference in September 2023, Udhayanidhi Stalin said Sanatana dharma is against social justice and equality and should be “eradicated’. Likening Sanatana dharma to coronavirus, malaria and dengue, he said it should be destroyed.

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
Start Quiz Now
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

Lok Sabha elections 2024: Coimbatore to Sivaganga, key seats in Tamil Nadu

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

 Listen to the Article (6 Minutes)

Summary

In the 2024 general elections, Tamil Nadu will witness a three-way contest between the respective blocs headed by the ruling DMK (including Congress), which is pitted against arch-rival AIADMK, besides the BJP-led National Democratic Alliance (NDA).

India will vote for the 543 Lok Sabha seats in seven phases starting on April 19 and concluding on June 1. The results will be declared on June 4. Tamil Nadu, which sends 39 Parliamentarians to the lower house, will go to polls in a single phase on April 19.

This time, the South Indian state is all set to witness a three-way contest between the respective blocs headed by the ruling DMK, which is in alliance with Congress, pitted against arch-rival AIADMK, besides the BJP-led National Democratic Alliance (NDA).

In 2019, the DMK-led bloc registered a historic win in Lok Sabha polls in Tamil Nadu, along with the lone Puducherry segment, giving a major advantage to the Congress-led UPA at the Centre.

Since then, “40/40” has been the mantra of the DMK and its allies to enthuse their cadre. On the other hand, a resurgent BJP, led by K Annamalai in the state, is going all out this time to end its political drought and register victory on as many seats as possible.

During the 2019 Lok Sabha polls, the DMK-led Secular Progressive Alliance won 38 of 39 seats in the state. While the DMK won 24 seats, the Congress got 8, CPI and CPI(M) two seats each, and VCK and IUML ended with one seat each. On the other hand, the National Democratic Alliance (NDA) managed to get only one seat — which went to the AIADMK, while other parties, including the BJP, failed to open their account in the poll-bound state.

Here’s a look at the key seats in Tamil Nadu:

  1. Thoothukudi

Largely a DMK bastion, Kanimozhi won from this seat in 2019 polls, defeating BJP candidate Tamilisai Soundararajan by over 3.47 lakh votes. She will again represent the DMK from this seat in 2024 polls

  1. Nilgiris

This reserved seat includes regions from the plains and the hills and houses a considerable tribal population. DMK leader and former Telecom Minister A Raja won from this seat last time, defeating AIADMK’s M Thiyagarajan by over two lakh votes. This time, Raja is pitted against Union Minister L Murugan.

  1. Coimbatore

Considered an AIADMK stronghold, this seat is presently represented by CPI(M) leader PR Natarajan. An industrial hub, the region has been loyal to the AIADMK, with the party earning significant gains from the district. This year, BJP has fielded K Annamalai from this seat against AIADMK’s Singai G. Ramachandran and DMK candidate Ganapathi P. Rajkumar.

  1. Sriperumbudur

The Sriperumbudur constituency, an industrial hub near Chennai, houses manufacturing units of big global players like Hyundai and Foxconn. In 2019, DMK’s TR Baalu won by over 5 lakh votes from this seat against Pattali Makkal Katchi (PMK) candidate A Vaithilingam. The DMK is confident of retaining the seat and has again fielded Baalu from here.

  1. Sivaganga

This seat was once a stronghold of former Finance Minister and veteran Congress leader P Chidambaram. In the 2019 polls, his son Karti Chidambaram trounced BJP National Secretary H Raja with a big majority of around 3.3 lakh votes. Karti is expected to contest this seat again this time.

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
Start Quiz Now
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?