Business

Rs 11,000 cr worth shares sold in IndiGo block deal; Rakesh Gangwal likely seller-Telangana Today

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Nearly 6% stake in InterGlobe Aviation, parent company of IndiGo, exchanged hands during morning trade

Published Date – 29 August 2024, 10:44 AM


Rs 11,000 cr worth shares sold in IndiGo block deal; Rakesh Gangwal likely seller

File Photo

Mumbai: Shares of budget carrier IndiGo marginally fell in the morning trade on Thursday after a block deal where at least 2.3 crore shares of the aviation major exchanged hands in a deal worth Rs 11,000 crore at a floor price of Rs 4,760 apiece.

Nearly 6 per cent stake in InterGlobe Aviation, the parent company of IndiGo, were sold in a block deal. According to multiple reports, promoter and co-founder Rakesh Gangwal is the likely seller in the block deal.

At 9.15 am, a block of 22,652,485 shares changed hands on the BSE at a price of Rs 4,762.55 per share. Further, 23.23 million shares had changed hands on the BSE.

According to reports, Gangwal was expected to offload nearly 5.8 per cent of his stake in InterGlobe Aviation. At the end of the June quarter, Gangwal held 5.89 per cent stake in IndiGo.

Earlier reports suggested that Gangwal was aiming to sell stake valued at Rs 6,750 crore. However, this amount was increased to Rs 11,000 crore.

The latest block deal follows previous deals, which has seen Gangwal paring his stake in a bid to exit IndiGo airline.

Meanwhile, the domestic air passenger traffic in the country grew 4.7 per cent (year-on-year) to over 9.23 crore in the January-July period, from more than 8.81 crore during the corresponding period of the previous year, according to latest data by the Directorate General of Civil Aviation (DGCA).

During the seven-month reporting period, budget carrier IndiGo carried more than 5.61 crore passengers, clocking a massive market share of 60.8 per cent, followed by Tata Group-run Air India flying over 1.25 crore passengers with 13.6 per cent share and Vistara registering a market share of 9.6 per cent with 89 lakh air passengers at the third position.

Indigo, last month, reported net profit at Rs 2,728 crore for the April-June quarter — a drop of 11.7 per cent from Rs 3,090.6 crore in the same quarter last year.

The operational revenue of the airline went up 17.3 per cent to Rs 19,570.7 crore in Q1 FY25, as compared to Rs 16,683.1 crore in the same quarter the previous year.

Top News

Mumbai Property Dealer Gives Contract To Kill Friend. Then, A Plot Twist

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Mumbai Property Dealer Gives Contract To Kill Friend. Then, A Plot Twist

Contract Killing and then a miscalculation leading to a second death – these were what tied an abandoned car found near Mumbai and two missing property dealers, the Maharashtra Police have found. The men in question – property dealers Aamir Khanzada and Sumit Jain – have been missing since August 21. But the police had no clue till the Baleno car was found near Mumbai Pune Expressway two days later.

Deepak Sakore, a senior police officer of Navi Mumbai, said the they found bullet marks, two empty cartridges and blood inside the car.

The breakthrough came when they arrested Vitthal Nakade, who was linked to the contract killer. 

Mr Sakore said Vitthal Nakade was a friend of Sumit. Amir Khanzada and Sumit Jain, the police found, were friends and business partners who had fallen out over a land deal. Both were residents of Nerul and were missing since the night of August 21.

“Recently, Sumit Jain, who  had incurred massive debts, usurped a plot of land through fraud. Aamir was blackmailing him to get a share. So Sumit hired a contract killer to kill Aamir,” he said.  It appeared that the entire planning was done by Sumit Jain and Vitthal Nakade in a day or two. The contract killer was given Rs. 50 lakh, the police were told by Nakade.

But then came the big twist. Instead of the body of Aamir Khanzada, the police found the body of Sumit Jain. The big question then became who killed Sumit and the whereabouts of Aamir.

The next big revelation came when the police arrested a few more men connected to Vitthal Nakade.

“On the night of August 21, at 11 pm, Sumit Jain and Vitthal Nakhade had got Aamir Khanzada in the car. They shot Aamir and disposed of his body. Then Sumit got himself shot in the leg – the plan was to make himself incapacitated, so he stays out of suspicion,” said Mr Sakore.

What marred the script was an unexpected fight between the two killers. Sumit, unable to get medical help in time, died of excessive bleeding. Nakhade disposed of his body too.

Amir Khanzada’s body was found near Karnala Bird Sanctuary. Sumit Jain’s body was dumped by the roadside on Pen-Khopoli Road.

Hyderabad

Tribal children in Seethakka’s constituency struggle with no school building

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If one did not see the children sitting on the floor with their books, none would know that it was a school.

Published Date – 29 August 2024, 10:09 PM


Tribal children in Seethakka’s constituency struggle with no school building

Mandal Parishad Primary school at Bangarupally in Mulugu district.

Hyderabad: A mud-tiled roof, A few pillars. That is the Mandal Parishad Primary school at Bangarupally hamlet at Kanthanapally panchayat under Kannigudem mandal at Mulugu district.

If one did not see the children sitting on the floor with their books, none would know that it was a school. In 2007, a few Girijan tribals had upgraded their Bangarupally gudem into a village with 34 houses and a population of nearly 150. For the convenience of students, a primary school was established under the Mandal Parishad.

Since then the schools lacks a permanent structure, it is under the makeshift structure that classes are conducted for students from Class One to Five. Villagers said the Education department failed in ensuring basic amenities at the school, which falls under the Panchayat Raj and Rural Development Minister D Anasuya’s constituency.

World

Israeli aggression on West Bank may continue for several days

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“The operation will continue as long as necessary to achieve its security goals, meaning that we might witness confrontations for several more days and possibly longer if required,” Ella Waweya told Turkish Anadolu Agency.

On Wednesday, the Israeli army launched a major military operation in the northern West Bank, the largest in two decades, martyring more than 30 Palestinians, according to Al Jazeera.

The occupying army said the operation aims to thwart the threat of explosive devices in the northern West Bank.

At least 670 Palestinians have since been killed, nearly 5,400 others injured and over 10,300 arrested in the occupied territory, according to Palestinian figures.

In a landmark opinion on July 19, the International Court of Justice declared Israel’s decades-long occupation of Palestinian land unlawful and demanded the evacuation of all settlements in the West Bank and East Quds.

MNA

Middle East

Day 2 of West Bank carnage: Israeli forces kill more, destroy homes

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The Israeli military is pressing on with its largest military onslaught across the occupied West Bank in more than two decades despite widespread international condemnation.

The death toll from Israel’s major assault on the occupied West Bank, which started on Wednesday, rose to at least 18, Palestinian official Wafa news agency reported on Thursday. 

The Palestinian Red Crescent Society said in a statement that a Palestinian man lost his life in eastern Jenin early Thursday.

It came shortly after five Palestinians were killed by Israeli army fire inside a mosque in Nur Shams refugee camp in the northern city of Tulkarem.

The Palestinian Health Ministry said 12 Palestinians were killed on the first day of the raids and assaults.

Israel began coordinated raids in the early hours of Wednesday. Columns of Israeli armored vehicles backed by troops and warplanes were sent in before soldiers encircled refugee camps in Tubas and Tulkarem, as well as Jenin.

The situation in the occupied West Bank is deteriorating dramatically.

Local Palestinian media reports say Israeli occupying forces have burned several homes and inflicted extensive destruction to infrastructure in the Nour Shams refugee camp, east of Tulkarm.

Electricity and internet services have been cut in some areas of the West Bank.

The violent raids have caused significant destruction, especially in Tulkarem, whose governor described the raids as “unprecedented” and a “dangerous signal”.

The authorities reported widespread damage to infrastructure, including to water and sewage networks.

Media footage showed bulldozers ripping up the asphalt from streets in the city as a precaution against concealed explosives.

The Hamas resistance movement has slammed Israel’s siege of hospitals in Jenin and Tulkarm which is continuing to prevent injured people from entering the health facilities.

Some media reports quoting witnesses said Israeli forces had withdrawn from the al-Farra refugee camp in Tubas, where several Palestinians were killed on Aug 28.

But clashes were still taking place in Jenin, where a drone was seen flying overhead.  Israeli soldiers were also still operating in Tulkarem.

The Palestinian Prisoners’ Club said at least 45 people had been arrested since the start of the Israeli operation in the northern West Bank.

The Palestinian Authority (PA) presidency condemned Israel’s assault and warned it could usher in “dire and dangerous” results. Palestinian President Mahmud Abbas returned early from a visit to Saudi Arabia.

The United Nations expressed concern over the Israeli offensive across the occupied territories.

In a statement, UN chief Antonio Guterres condemned the loss of lives, including that of children, and urged Israel to protect civilians and ensure their safety.

“These dangerous developments are fueling an already explosive situation in the occupied West Bank and further undermining the Palestinian Authority,” he added.

The United Nations says Israel’s raids and assaults on the occupied West Bank risk “seriously deepening” an already “catastrophic situation” there.

Violence by settlers and raids by Israeli forces have surged in the West Bank since Israel launched its barbaric military campaign in the besieged Gaza Strip in early October 2023.  

Israeli assaults on refugee camps and towns in the West Bank are a near-daily occurrence and have intensified since October 7.

Since then, Israel has killed at least 40,534 people and wounded another 93,778 in the besieged Gaza Strip

It has killed 662 Palestinians and injured about 5,400 in the West Bank during that same period.

The Palestinian Centre for Human Rights, al-Haq and Al Mezan Center for Human Rights have warned of escalating violence in the West Bank and the use of tactics by Israeli forces that the world has witnessed in its war on Gaza.

In a landmark opinion on July 19, the International Court of Justice declared Israel’s decades-long occupation of Palestinian land unlawful and demanded the evacuation of all settlements in the West Bank and East al-Quds.

Sports

PM Modi’s approach goes beyond merely celebrating victories, says Manu Bhaker

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I was 16 when the Prime Minister told me I would be successful, recalls the Olympic medallist

Published Date – 29 August 2024, 11:46 AM


PM Modi’s approach goes beyond merely celebrating victories, says Manu Bhaker

Prime Minister Narendra Modi with Indian Olympic medallist pistol shooter Manu Bhaker. — File Photo

New Delhi: On the occasion of National Sports Day, Indian Olympic medallist pistol shooter Manu Bhaker reminisced about her interactions with Prime Minister Narendra Modi and offered her perspective on the inspiration he bestows upon athletes.

The 22-year-old Manu created history at the 2024 Paris Olympics, becoming the first Indian to win two medals in a single Olympic edition post independence. She also became the first Indian woman to win a medal in an individual shooting event at the Games.

Manu was just 16 when she first met PM Modi after her gold medal win at the 2018 Commonwealth Games when she was just 16 years old and taken aback by his genuine interest in her sporting career.

“During the interaction, he took me aside and said, ‘You are very young. You will achieve even greater success and reach out to me whenever you need anything.’ This was a great source of motivation for me,” Manu recalled.

After her heartbreaking Tokyo Olympics campaign, where she fell short of winning a medal due to a pistol malfunction, the Prime Minister reached out with words of encouragement and discussed her future plans.

“PM Modi told me to be confident and focus on my goal. He keeps track of every detail about each player,” Manu noted. The pistol shooter believes that PM Modi’s approach goes beyond merely celebrating victories; he focuses on nurturing and supporting every athlete, regardless of the outcome.

Reaching out to athletes individually and taking the time to discuss their concerns, makes them feel valued and inspired. After Manu bagged her first medal at the Paris Olympics, clinching the bronze medal in women’s 10 m air pistol, PM Modi called upon the pistol shooter and congratulated her for the historic medal at the Games in Paris. She later won the bronze in the Mixed 10m Air Pistol with Sarabjot Singh and finished fourth in the women’s 25m Pistol event.

Business

PhonePe rolls out PG Bolt to revolutionise in-app payments, know how it works-Telangana Today

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It offers 1-second transaction time with widest reach for registered PhonePe merchants and users who can integrate their payments across apps without multiple onboarding

Published Date – 29 August 2024, 10:53 AM


PhonePe rolls out PG Bolt to revolutionise in-app payments, know how it works

Representational Image

New Delhi: PhonePe Payment Gateway on Thursday announced the launch of PhonePe PG Bolt — a groundbreaking solution that empowers merchants by offering the fastest in-app payment experience to customers with a 99 per cent success rate.

PhonePe PG Bolt offers a 1-second transaction time with the widest reach for registered PhonePe merchants and users who can integrate their payments across apps without multiple onboarding.

PhonePe PG Bolt offers a multitude of benefits that set it apart from other payment solutions in the market. With a focus on speed, convenience, and reliability, PhonePe PG Bolt delivers a 10x faster payment experience with UPI Lite, Wallets, and EGVs, through a one-click, PIN-less process.

Unlike other solutions that require multiple steps and phone permissions, PhonePe PG Bolt eliminates these hurdles, ensuring enhanced customer experience and an efficient payment journey which leads to increased conversion rates and drives business growth.

By providing complete control over the customer’s payment experience within the merchant app, PhonePe PG Bolt eliminates the need for redirection to external payment platforms. Merchants can offer a wide range of payment options, including UPI Lite, UPI-linked bank accounts, electronic gift cards, Rupay credit cards, and wallets, to cater to diverse customer preferences.

This comprehensive suite of payment options, coupled with PhonePe’s extensive user base helps position merchants for success. PhonePe PG Bolt addresses key challenges faced by merchants, especially enterprises, by reducing transaction failures, eliminating payment funnel drop-offs, and minimising cart abandonment.

By integrating the PhonePe PG Bolt, merchants can significantly improve customer satisfaction, increase sales, and gain a competitive edge in the market. “We are excited to launch PhonePe PG Bolt as it represents a significant milestone in our mission to empower businesses and enhance the overall payment experience for consumers,” said Ankit Gaur, Head PhonePe Payment Gateway and Online Merchants.

“By providing merchants with the tools to create a seamless and secure payment environment, we are confident that PhonePe PG Bolt will drive substantial growth and success for businesses of all sizes,” Gaur added. By partnering with multiple leading banks, PhonePe PG Bolt ensures robust payment processing capabilities due to reduced transaction failures. India’s leading beauty and lifestyle retailer, Nykaa is among the early adopters of the new solution.

“PhonePe PG Bolt offers a seamless, one-click payment solution that addresses drop-offs and improves success rates, enhancing our understanding of the customer journey and satisfaction. We are excited to elevate the retail experience for our customers with this promising solution,” said Rajesh Uppalapati, Chief Technology Officer, Nykaa.

PhonePe PG Bolt’s ability to seamlessly integrate with PhonePe’s platform enhances the overall UPI payment ecosystem and contributes to the growth of digital payments in India.

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University Of Southampton First UK University To Establish Campus In India

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The University of Southampton has become the first UK university to receive approval from the Indian government to establish a comprehensive campus in the country. This move marks a significant milestone in the Indian education sector, aligning with the University Grants Commission’s (UGC) initiative to invite the top 500 foreign universities to set up campuses in India.

A letter of intent (LoI) was handed over to the University of Southampton today, marking the formal beginning of this collaboration. The event took place in the presence of External Affairs Minister S Jaishankar, who emphasised the significance of this development under the National Education Policy (NEP) 2020. 

“This reflects both the vision of elevating our educational standards to the highest global levels and delivering on the education pillar of India-UK cooperation,” Dr Jaishankar stated. 

He expressed confidence that such endeavours will further prepare Indian youth for global challenges and foster international cooperation.

The University of Southampton, recognised as one of the top 100 universities globally, will establish its campus in the Delhi National Capital Region (NCR). This campus will focus on education, research, knowledge exchange, and enterprise activities, integrating Southampton’s world-class expertise with India’s emerging potential as a global education hub.

Mark E Smith, president and vice-chancellor of the University of Southampton, highlighted the importance of this initiative. 

“In the 21st century, no university can be truly global without engaging with India. We intend to establish a campus that delivers social value and economic impact to India and the university by bringing together Southampton’s world-class activities in education, research, and knowledge exchange and enterprise, with all the talent of the rising global superpower that is India,” he said. 

He further added that the new campus would play a crucial role in supporting the Government of India’s transformative agenda by harnessing the potential of Indian youth.

Professor Andrew Atherton, vice-president of International and Engagement, emphasised the campus’s role in fostering academic collaboration and enhancing the Indian higher education system. 

“University of Southampton Delhi NCR will be the first comprehensive international campus in India. It will foster academic collaboration and bring an international dimension to the Indian higher education system, opening up opportunities to study for a top 100 degree in-country,” he stated.

This development is seen as a significant step towards realizing the NEP 2020’s vision of ‘internationalisation at home.’ The Education Minister also lauded the growing interest of globally renowned higher education institutions (HEIs) in collaborating with Indian institutions and contributing to India’s future as a global education and talent hub.

So far, only Australian universities- Deakin University and the University of Wollongong – have set up their campuses in India, at Gujarat International Finance Tec-City (GIFT City). Moreover, Malaysia’s Lincoln University College was the first foreign university to register through the UGC’s dedicated portal to set up a campus in India.


Hyderabad

CM Revanth’s brother confirms receiving notices, claims lack of knowledge about buffer zone violation

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He said the house spread over 600 square yards was purchased after seeking legal opinion from his lawyer.

Published Date – 29 August 2024, 08:51 PM


CM Revanth’s brother confirms receiving notices, claims lack of knowledge about buffer zone violation

Tirupathi Reddy

Hyderabad: Chief Minister A Revanth Reddy’s brother Tirupati Reddy on Thursday acknowledged the receipt of a notice on his house in Amar Cooperative Society at Durgam Cheruvu, Madhapur being in the buffer zone of the lake.

“This was a sanctioned layout before the WALTA Act came into force. The previous owner had constructed the house after obtaining all permissions. I purchased the same from him and had no idea whether it was in the FTL or buffer zone,” Tirupati Reddy told media persons outside his residence on Thursday.

He said the house spread over 600 square yards was purchased after seeking legal opinion from his lawyer. Interestingly, when ‘F’ (indicating Full Tank Level) and ‘B’ (Buffer zone) marks were marked on other houses, no such mark was indicated on Tirupati Reddy’s house. “People say it comes under buffer zone and the same was mentioned in the notice,” he replied to the media persons.

When asked if any officer had come to serve the notice, he replied that no officer had met him so far.

“The Chief Minister is not working for me alone and he is working for all people. Whatever has to be done, it should be done by officials, what can a Chief Minister do? If the government wants to demolish, so be it,” he said, adding that he was prepared for legal action.

“If they give me some time, I will vacate the premises after collecting all my belongings,” he said, also alleging that the notices were the outcome of the actions of the BRS.

“The BRS has put the entire colony in a problem. Had I not lived here, none would have concentrated on this colony,” he alleged.

World

Israel kills five more in West Bank, including well-known local commander

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There was no immediate Palestinian confirmation of the death of Mohammed Jaber, known as Abu Shujaa, a commander in the Islamic Jihad militant group

Published Date – 29 August 2024, 12:07 PM


Israel kills five more in West Bank, including well-known local commander

A youth rides his bicycle past an Israeli armoured vehicle during a military operation in the West Bank city of Jenin. — Photo:AP

Jerusalem: The Israeli military says it has killed five more militants in a large-scale operation in the occupied West Bank, including a well-known local commander.

There was no immediate Palestinian confirmation of the death of Mohammed Jaber, known as Abu Shujaa, a commander in the Islamic Jihad militant group in the Nur Shams refugee camp.

The military said he was killed along with four other militants in a shootout with Israeli forces early Thursday after the five had hidden inside a mosque. It said Abu Shujaa was linked to numerous attacks on Israelis, including a deadly shooting in June, and was planning more.

He was reported killed earlier this year, but then made a surprise appearance at the funeral of other militants, where he was hoisted onto the shoulders of a cheering crowd.

The military said another militant was arrested in the operation in the West Bank city of Tulkarem, and that a member of Israel’s paramilitary Border Police was lightly wounded.

Israel launched a large-scale operation in the West Bank overnight into Wednesday. Hamas said 10 of its fighters were killed in different locations, and the Palestinian Health Ministry reported an 11th casualty, without saying whether he was a fighter or a civilian. Violence has surged in the West Bank since Hamas’ October 7 attack out of Gaza ignited the war there.