There's a hint of new competition riding into a sector that has attracted attention for being in a duopoly-like situation. Rapido, a commute app known for its budget-friendly bike-taxi services, on Tuesday announced its entry into the cab market, which is currently dominated by marquee brands Uber and Ola. Rapido's cab foray will be enabled by a software as a service (SaaS)-based platform.
Officials said in the evening that a six-metre section of a steel pipe had been inserted into the bored passage. Another section was being welded into it. The plan is to insert 800 mm and 900 mm diameter pipes -- one after the other -- with the help of the giant drill till an escape passage is created for the workers stranded beyond the collapsed portion of the under-construction tunnel.
Kerala Governor Arif Mohammed Khan, Chief Minister Pinarayi Vijayan and Congress MP Shashi Tharoor were also present with the PM as he interacted with the students inside the train.
Li also had a difficult meeting with some of the Western leaders on the sidelines, especially Italian Prime Minister Giorgia Meloni, who has signalled Italy's resolve to quit China's famed Belt and Road Initiative for its failure to bring the expected results to Rome.
The ministry's year-end review is silent on the continued occupation by Chinese troops of territory that India has always claimed and patrolled.
'Areas within 100 km of the landfall could suffer catastrophic effect.'
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
Ridlr will become a wholly-owned subsidiary of ANI Technologies, which owns Ola brand. Ridlr's team of 64 employees will now become a part of Ola.
Emphasising the importance of sustaining food and energy security, the G20 leaders called for the "cessation of military destruction or other attacks on relevant infrastructure".
The letter shared with the media on Saturday comes amid Maharashtra losing several big-ticket projects to neighbouring Gujarat.
The Central Public Works Department, a prime construction agency of the central government, said the bullet-proof window system of the selected bidder will be sent for testing at the forensic science lab in Gujarat's Gandhinagar.
'India is too large a place to have just 10 labs performing these Covid-19 tests.'
India's growth in the last three financial years has averaged just 1.9%. It is natural to project rapid growth from this low base. Crucial to that would be the assumption that the economy has suffered no lasting damage from the pandemic, observes T N Ninan.
"They (opposition parties) are not concerned about the development of the children of the country's poor. Their common minimum programme is to increase corruption for their family. Democracy means 'of the people, by the people, for the people'. But these dynastic parties have the mantra of 'of the family, by the family, for the family'. For them, their family is first, and the nation is nothing," he said.
Adani Enterprises, which is launching India Inc's second-largest follow-on public offer worth Rs 20,000 crore next week, on Thursday said it is planning to enter the water segment as this is a key element of its core business of infrastructure. The group is into the entire gamut of infrastructure -- being its ports, airports, roads, expressways power generation & distribution, among others. In ports and airports, the group is the largest player in the private sector. Addressing media from Milan, group chief financial officer Jugeshinder Singh said the company has fixed the price band for the Rs 20,000-crore issue in the range of Rs 3,112-3,276 per share.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
Road Transport Minister Nitin Gadkari on Tuesday said the government will approach the capital market next month to raise funds for four road projects. The money will be raised through Infrastructure Investment Trusts (InvITs), and there will be an investment limit of Rs 10 lakh for retail investors, he added. "We will be approaching the capital market to raise funds for the four road projects... there will be an assured return of 7-8 per cent," Gadkari said while addressing a Ficci event.
Achieving a major milestone, the Mumbai civic body on Tuesday completed the excavation of a second underground tunnel of the coastal road project at Priyadarshini Park in the city, while Maharashtra Chief Minister Eknath Shinde said the key infrastructure venture will be extended to the distant suburb of Virar.
'Either China is building regional transport infrastructure long before it needs it, or this is in a chain of Chinese investments with more strategic than economic intent,' says T N Ninan.
'Israelis have great love for India,' says Ashish Mehrotra looking back at his memorable visit to Israel a few years ago.
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
A high performance drilling machine was brought in Uttarkashi from Indore on Saturday to pierce through the rubble of the collapsed tunnel on the Char Dham route and was being assembled before it is deployed to resume drilling, officials at the site said.
According to the police, a Special Task Force team retaliated when the gangster, recently released from prison on bail, opened fire at them after being cornered. His car had crashed into a pole.
US-based boutique investment firm GQG Partners along with other investors on Wednesday bought an 8.1 per cent stake in Adani Power Ltd for over Rs 9,000 crore ($1.1 billion) as the marquee investor shrugged off damning report of a US short seller to invest in billionaire Gautam Adani's group.
The Union Budget on Wednesday outlined several initiatives to drive India's technology agenda and boost digital infrastructure, including new centres of excellence for artificial intelligence, National Data Governance Policy, and Entity DigiLocker.
In 2021, the Railways boasted of a historic feat -- no passenger deaths in train accidents in two years. However, the derailment of the Bikaner-Guwahati Express in 2022 brought the Railways back to its forgetful past.
While some states have kicked in their heat action plans, experts feel this is not enough to tackle the current extreme weather.
Around 300 people, mostly tourists, are stuck in camps at Chandertal, located at an altitude of 14,100 feet, following rain and snowfall in the region.
The addition of new flights at airports will now be based on passenger-handling capacity at security checkpoints, according to the Bureau of Civil Aviation Security (BCAS). The civil aviation security regulator issued directions in this regard on May 22 in a move to reduce congestion and delays inside airport terminals. Following this, airports will have to check passenger-handling capacity at security checkpoints before allotting slots.
Around 70 companies have received IPO clearance from markets regulator Sebi, but are waiting for election results.
The funny thing is that the government has the money - but it is going into subsidies that Mr Jaitley has chosen to leave untouched.
'Building a whole product with the railways was challenging; we had to figure out how to load and unload a train when it stops for only about five minutes at a station.' 'We also helped them understand the revenues this would generate for them.'
'Instead of ACs, the government should do something to increase our salary.'
Having now privatized infrastructure in India, we are looking at the second decade of the 21st century as the decade of infrastructure. Infrastructure is now the buzzword in India, says Kamal Nath, Minister for Road Transport.
The capability of operating fighter aircraft from this area would strengthen the air force's ability to tackle any misadventures by the adversary in a faster way.
Union Minister of Road Transport and Highways Nitin Gadkari on Tuesday unveiled the prototype of the world's first Bharat Stage (BS)-VI-compliant electrified flex-fuel car, developed by Toyota Kirloskar Motor. The car, which runs on 100 per cent ethanol (E100), is based on the Toyota Innova HyCross. It can cover 40 per cent of its distance on ethanol and the remaining 60 per cent on electric, with the petrol engine shut off.
'We cried our hearts out as we saw our huts going underwater. It was hard to believe that I was fast asleep at the same spot just 15-20 minutes ago'
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
The minister tells Subhomoy Bhattacharjee that he wants to set up a financing corporation for the road and shipping sectors, which will throw up a business opportunity of Rs 25 lakh crore!
'With a solid investment programme and sustainable development strategy, India can exceed 7 per cent growth per year, or a doubling of high-quality national income within a decade.'
