Sports

T20 World Cup: South Africa reaches final with 9-wicket win over Afghanistan

admin 0

Batting first on a tricky surface, Afghanistan struggled and were reduced to 56 for 10 in 11.5 overs.

Updated On – 27 June 2024, 03:12 PM


T20 World Cup: South Africa reaches final with 9-wicket win over Afghanistan


Port of Spain: South Africa defeated Afghanistan by 9-wicket to reach the final of the Men’s T20 World Cup 2024 at Brian Lara Stadium on Thursday.

Earlier, batting first on the tricky surface Afghanistan struggled to put runs on the board and were reduced to 56 for 10 in 11.5 overs. Marco Jansen and Tabraiz Shamsi picked 3-fers each as Kagiso Rabada and Anrich Nortje picked two wickets.

The chase was led by by Reeza Hendricks, who played an innings of 29 off 25 deliveries and was well supported by skipper Aiden Markram, who scored 23 runs as the Proteas men chase down the total in 8.5 overs for the loss of one wicket to enter the maiden ICC final.

Brief scores:

Afghanistan 56 all out in 11.5 overs (Azmatullah Omarzai 10, Rashid Khan 8; Tabraiz Shamsi 3-6, Marci Jansen 3-16) lost to South Africa 60 for 1 in 8.5 overs (Reeza Hendricks 29 not out, Aiden Markram 23 not out; Fazalhaq Farooqi 1-11) by nine wickets.

Business

UltraTech Cement to acquire 23% in India Cements for around Rs 1,885 cr-Telangana Today

admin 0

To buy 7.06 crore equity shares of India Cements at a price of up to Rs 267 per share

Published Date – 27 June 2024, 12:18 PM


UltraTech Cement to acquire 23% in India Cements for around Rs 1,885 cr


New Delhi: The country’s leading cement maker UltraTech on Thursday said it will acquire a 23 per cent stake in its Chennai-based rival India Cements Ltd, in a deal estimated to be around Rs 1,885 crore.

As part of the transaction, UltraTech Cement will acquire 7.06 crore equity shares of India Cements at a price of up to Rs 267 per share, according to a regulatory filing from the Aditya Birla Group flagship firm.

The Board of company at its meeting held on Thursday approved “making a financial investment to purchase up to 7.06 crores equity shares of India Cements Ltd,” the filing said.

Calculated on the basis of Rs 267 per share, the transaction value of the acquisition stood at Rs 1,885 crore.

“This non-controlling financial investment constitutes around 23 per cent of the equity share capital of India Cements,” said UltraTech.

UltraTech, with an installed capacity of 152.7 million tonnes per annum (MTPA) of grey cement, is in expansion mode. On April 20 announced the acquisition of a grinding unit from India Cements in Maharashtra for a consideration of Rs 315 crore.

Earlier this week, UltraTech Cement also announced a revision of its offer to acquire 25 per cent in UAE-based RAK Cement Co for White Cement and Construction Materials PSC (RAKWCT).
In the last 12 months, UltraTech has expanded its capacity by 18.7 MTPA.

“The ongoing expansion of 35.5 MTPA is actively being implemented across 16 locations. 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,” the company had said in a statement in April.

UltraTech in April this year had announced a capex of Rs 32,400 crore (nearly $4 billion) over the next three years.

Meanwhile, India Cements’ revenue from operations for the financial year ended on March 31, 2024 was down 8.84 per cent to Rs 5,112.24 crore. It has also reported widening of loss to Rs 227.34 crore, from Rs 126.89 crore in FY23.

India Cements is monetising some of its non-core assets to improve its liquidity and to meet its capital expenditure plans.

In September 2023, India Cements sold 73.75 acres of land at Kantakapalle and Chinnipalem villages in Vizianagaram district of Andhra Pradesh valued at Rs 70 crore to UltraTech Cement.

In October 2022, India Cements sold its entire shareholding held by it in Springway Mining Pvt Ltd (SMPL), for a consideration of Rs 476.87 crore to JSW Cement.

India Cements has a total Group capacity of 16 MTPA including 1.5 MTPA from its subsidiary, Trinetra Cement Ltd.

UltraTech has a consolidated capacity of 152.7 Million Tonnes Per Annum (MTPA) of grey cement. It has 24 integrated manufacturing units, 33 grinding units, one clinkerisation unit and eight bulk packaging terminals.

Its capacity over the past two decades, “has grown 11x, far outpacing the industry growth of 4x,” according to an earlier statement by the company.

“It took 36 years for the cement business of Aditya Birla Group, to get to a capacity of 100 MTPA. And UltraTech has subsequently added the next 50 mtpa in less than 5 years with an investment of around Rs 32,000 crore,” it said.

In the last AGM in 2023, its chairman Kumar Mangalam Birla had set a target for 200 MTPA, aiming to become one of the largest cement companies in the world.

The Aditya Birla Group firm is followed by billionaire Gautam Adani-owned Ambuja Cement in the cement industry, which along with its subsidiaries as ACC, Sanghi Industries, is sitting at 79 MTPA capacity.

Adani Group also has an ambition to have a capacity of 140 MTPA by 2028 and as part of that, it announced the acquisition of Hyderabad-based Penna Cement at an enterprise value of Rs 10,422 crore this month, which will add 14 MTPA, taking its capacity to 93 MTPA.

Shares of UltraTech Cement were trading at Rs 11440.35, higher by 2.61 per cent on the BSE, while shares of India Cements were trading at Rs 285.80 apiece, up 8.69 per cent on the BSE.

Top News

Man On Cycle Run Over By Bus In Lucknow, Head Crushed

admin 0

Man On Cycle Run Over By Bus In Lucknow, Head Crushed

The cyclist changes lanes because a car parks in front of him.

Lucknow:

In a horrific accident in Lucknow, which was caught on camera, a man on a cycle has been run over by a bus. The bus hit the cyclist on the side and he fell, getting his head crushed by the wheels.

CCTV footage from the Wazirganj area in Lucknow shows the cyclist riding on the left side of the road, when he is forced to come to the centre because a car double parks in front of him. While changing lanes, he can also be seen pulling out his phone from his pocket and checking something.

A bus coming from behind crosses him just as he is next to the car and the front goes by without touching the cycle. The side of the bus hits the cycle, however, and the man falls onto the road. His head is then crushed by the rear wheels, causing his death. 

The bus can be seen slowing down for a second or so before driving away as people rush to the cyclist. The accident occurred on Wednesday.
 

Hyderabad

Nirmal’s ZPSS Maskapur stands out in providing quality education

admin 0

As many as 113 students studying at Maskapur Zilla Parishad Secondary School (ZPSS) were qualified to get the scholarship from 2018 to 2024

Updated On – 27 June 2024, 04:58 PM


Nirmal’s ZPSS Maskapur stands out in providing quality education

Students who cracked NMM scholarships in 2023-24 academic year pose for a group photograph along with their teachers and headmaster at ZPSS Maskapur in Khanapur mandal.

Nirmal: A government school at remote Maskapur village in Khanapur mandal is setting an example to other schools and surpassing its own benchmarks by providing outstanding quality of education to its pupils as indicated by its excellence performance in National Means cum Merit Scholarship (NMMS) and many other tests.

As many as 113 students studying at Maskapur Zilla Parishad Secondary School (ZPSS) were qualified to get the scholarship from 2018 to 2024. The school stood top in registering highest scholarships in the district for six times in a row between 2019 and 2024 and was topper in the state for bagging 24 scholarships in 2021, reflecting the quality of education offered by the school.

Nirmal

DEO Ravinder Reddy, teachers and headmaster Narender Redddy release pamphlets of the school at Maskapur village in Khanapur mandal recently

Twenty-one students from the school got seats at Rajiv Gandhi University of Knowledge and Technologies (RGUKT) or IIIT-Basar for faring well in SSC. M Siddharth and B Varshith of the school achieved first and second positions in the district in a social studies talent test in 2023. Siddharth won Rs 1 lakh by emerging victorious in ‘Meelo Evaru Lakshadikari’, a district level competition held by Thanneru Venkat Rao, an educationist from Nirmal in 2022.

Jaswanth, a student belonging to the school topped the district by excelling in the Mathematical Olympiad in 2022. Pupils from the school shine in the INSPIRE Manek science exhibition, science fairs and Chekumuki talent test held in recent times. The school registered a pass percentage of 98.4 in results of Class X in 2024 and 100 percent in 2023. A total of 124 Grade X students passed all the subjects as against the total of 126 pupils.

“Teachers walk an extra mile to impart various subjects. They create an environment that makes learning a joy for students. Similarly, parents extend support in molding the students,” headmaster, Erri Narender Reddy told ‘Telangana Today.’

Highest enrollments in the district

Considering the highest scholarships and impeccable academic performance of the students, many parents are coming forward to join their children at the school. As a result, the school is seeing the highest enrollments of students in the district. It now has a strength of 780 students as against 750 in 2023. To generate admissions, the teachers distributed pamphlets highlighting the scholarships and academic performance of the students

District Educational Officer (DEO) A Ravinder Reddy remarked that Maskapur ZPSS school was one of the best schools in the district in offering quality education to students. It had become a role model to other schools in cracking NMM scholarships and seats at RGUKT-Basar, he stated.

World

Russia says work underway on ‘big treaty’ with Iran

admin 0


Russian Foreign Ministry spokeswoman Maria Zakharova

Russia says it is working on a significant cooperation agreement with Iran, a sign of growing friendship between the two nations.

“Now we are working on a treaty – probably you have heard about it, and I ask you once again not to use the formula ‘the same as the one with North Korea’ – now the work is underway on the big treaty with Iran,” Foreign Ministry spokeswoman Maria Zakharova told a presser in Moscow on Wednesday.

Her comment referred to a comprehensive bilateral cooperation agreement that has been negotiated between the two sides for years.

In January, Russia’s Foreign Ministry said a new inter-state treaty reflecting the “unprecedented upswing” in Russia-Iran ties was being finalized.

Over the past couple of years, the two countries have strengthened their bonds of friendship.

Earlier this month, Iran’s acting Foreign Minister Ali Bagheri Kani said Tehran and Moscow had serious intentions of expanding cooperation in several domains.

Bagheri Kani, in an interview on the sidelines of the BRICS Foreign Ministers’ meeting in the Russian city of Nizhny Novgorod, said Iran and Russia were two neighboring countries with historical relations.

“In the past years, the relations between the two countries have increased and also the two countries share similar challenges and threats, promoting several opportunities for cooperation.”

For his part, Russian Foreign Minister Sergei Lavrov expressed Moscow’s commitment to finalize the comprehensive long-term cooperation agreement with the Islamic Republic of Iran. “Moscow is dedicated to concluding this memorandum with Tehran.”

In a press conference following the BRICS meeting, Lavrov said the draft of the agreement had been agreed upon but still had to be signed by the presidents.

He said signing the agreement would need to go through some formal protocols to be finalized.

Lavrov said the signing of this document would elevate Tehran-Moscow relations to a new stage. “As soon as the stages I mentioned are implemented in Iran, we can do this.”

Press TV’s website can also be accessed at the following alternate addresses:

www.presstv.ir

Middle East

Martyr Beheshti architect of judiciary system in Iran

admin 0

The late Ayatollah Mohammad Beheshti played a key role in shaping Iran’s post-revolution constitution and administrative structure and was a leading figure in the history of Shiite thought.

He also made significant contributions to the country’s judicial system on the international stage.

Beheshti was responsible for identifying and mentoring several influential politicians in the Islamic Republic.

He held important positions including Secretary General of the Islamic Republic Party and head of the Iranian judiciary. Additionally, he chaired the Council of Islamic Revolution and the Assembly of Experts. With a PhD in philosophy and fluency in English, German, and Arabic, Beheshti was a highly educated and multilingual individual.

On February 3, 1979, the founder of the Islamic Republic, Imam Khomeini, appointed Beheshti as a member of Iran’s Islamic Revolutionary Council, and he soon became the council’s first secretary.

Martyr Beheshti architect of judiciary system in Iran

On June 28, 2009, the Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei said that the Haft-e Tir event was significant because we lost some of the most honorable and prominent revolutionary figures in the bombing.

Martyrs such as Beheshti, who was an exceptional and unique figure of the Revolution, sacrificed their lives for the cause, Ayatollah Khamenei added.

He further noted that the Islamic Republic, particularly the judiciary, owes a great deal to the esteemed figure, Shahid Beheshti. During his short tenure in the judiciary from late 1358 to early 1360, martyr Beheshti implemented many innovations, achieved numerous advancements, and laid out long-term plans for the judiciary.

Martyr Beheshti architect of judiciary system in Iran

Late Iranian Martyr President Ebrahim Raeisi has described Martyr Beheshti as the architect of the judicial system of the Islamic Republic and stated, “Martyr Beheshti was responsible for a short period of time in the judicial system, but due to his sincere, faithful, scholarly, disciplined, state-oriented personality and the view of the organization that he had previously had made, in this short period of time, he became the source of great actions”.

The President continued, “Although Martyr Beheshti had an effective position in an important political organization, no one can claim that he deviated from the path of fairness and justice in his work. He was in no way influenced by false atmospheres. This characteristic of his was derived from the practical life of the prophets and imams, who were not affected by anything other than God’s fear and pleasure”.

Brief biography

Martyr Beheshti architect of judiciary system in Iran

Beheshti was born in Isfahan in 1928. He studied at the University of Tehran and under Muhammad Hussein Tabatabaei in Qom.

From 1965 to 1970, he led the Islamic Center in Hamburg, where he was responsible for the spiritual leadership of religious Iranian students in Germany and Western Europe.

In the early 1960s, he was involved in activities against the monarchy and was arrested several times by Shah’s secret police, the SAVAK.

Beheshti joined Ayatollah Khomeini in Najaf, Iraq, where the latter was in exile, and became part of Imam Khomeini’s underground movement.

Tragically, Beheshti and more than 70 members of the Islamic Republic Party were martyred in the Hafte Tir bombing on June 28, 1981, carried out by the People’s Mujahedin of Iran (MEK), which included four cabinet ministers and 23 members of parliament.

Following his martyrdom, Ayatollah Khomeini referred to Beheshti as a “national figure” for Iran.

Martyr Beheshti architect of judiciary system in Iran

Each year, a commemoration ceremony is organized to mark the day of Beheshti’s assassination in the country.

Ayatollah Beheshti played a crucial role in establishing Iran as an Islamic republic in 1979.

Judiciary Week in Iran was named after the martyrdom of Beheshti along with 72 colleagues who were martyred in a terrorist bomb blast in June 1981.

Reported by Amin Mohammadzadegan Khoyi

Sports

Euro 2024: Draw secures next round for Romania and Slovakia

admin 0

Razvan Marin’s penalty equalized Ondrej Duda’s goal for Slovakia, allowing both teams to advance. Belgium, following a draw with Ukraine, also finished second and moved to the knockout stage.

Published Date – 27 June 2024, 10:20 AM


Euro 2024: Draw secures next round for Romania and Slovakia


Frankfurt: A goal and a point each was enough as Slovakia and Romania drew 1-1 in the UEFA EURO 2024 Group E game here, with both teams qualifying for the last 16 – Romania as group winners and Slovakia in third place on Wednesday.

A Razvan Marin penalty cancelled Ondrej Duda’s goal for Slovakia as both sides went through while Belgium, after a draw with Ukraine, finished second and also made it to the knockout stage.

All four teams in Group E finished with four points with a win, a draw and a loss each. Romania finished first with a goal difference of 1, the same as Belgium (Romania scored four goals to two by the Red Devils). Slovakia finished third as they had a better goal difference of 0 as compared to -2 of Ukraine.

Slovakia started on the front foot, pressing high up the pitch and giving the Romania backline a tough time. Juraj Kucka had the first sniff of a chance with a header and moments later Dávid Hancko’s shot flew over the bar.

Romania swiftly responded, their first effort on target coming from Andrei Rațiu’s curler, brilliantly saved by Martin Dúbravka. Francesco Calzona’s men then produced their best opportunity yet, a Duda free-kick that sailed narrowly wide. Within a minute, however, the Slovakia midfielder found the back of the net with a perfect header.

Romania’s reaction was another Rațiu strike, again blocked by Dubravka. Parity was restored soon after, though, following a penalty award to Romania for a foul on Ianis Hagi. Răzvan Marin provided the emphatic conversion.

The game continued to ebb and flow. Lukas Haraslin broke from the left but Florin Nița stopped his shot. Next, that man Marin let fly from the edge of the box, only for Dubravka to repel his attempt.

David Strelec also had his chance, Nița being well positioned to save, and Slovakia came again with a Haraslin curler that soared just wide of the target. No matter: a point apiece served to send both sides into the Round of 16, with Romania writing history by winning an EURO group for the first time and the Slovaks finishing third on the same four-point total.

Business

Emcure Pharma to float IPO on July 3-Telangana Today

admin 0

Initial share sale to conclude on July 5, bidding for anchor investors to open for a day on July 2

Published Date – 27 June 2024, 12:52 PM


Emcure Pharma to float IPO on July 3

Representational photo

New Delhi: Bain Capital-backed Emcure Pharmaceuticals is set to launch its Initial Public Offering (IPO) on July 3.

The initial share sale will conclude on July 5 and the bidding for anchor investors will open for a day on July 2, according to the Red Herring Prospectus (RHP).

The IPO comprises fresh issuance of equity shares worth Rs 800 crore and an Offer of Sale (OFS) of 1.14 crore equity shares by promoters and existing shareholders.

Those selling shares in the OFS include promoter Satish Mehta and investor BC Investments IV Ltd, an affiliate of US-based private equity major Bain Capital.

Currently, Satish Mehta holds a 41.85 per cent stake in the company and BC Investments owns a 13.07 per cent stake.

Proceeds of the fresh issue will be used towards payment of debt and for general corporate purposes.

The Pune-based firm Emcure Pharmaceuticals is engaged in developing, manufacturing, and globally marketing a broad range of pharmaceutical products across several major therapeutic areas.

Earlier this month, the company received Sebi‘s go-ahead to float the initial share sale. Kotak Mahindra Capital Company, Jefferies India, Axis Capital, and JP Morgan India are the book-running lead managers to the issue.

The equity shares of the company are expected to list on the BSE and NSE on July 10.

Top News

Will Bring Stringent Law To Curb Exam Paper Leaks: Bihar Government

admin 0

Will Bring Stringent Law To Curb Exam Paper Leaks: Bihar Government

State is going to introduce a stringent law to curb exam paper leaks in Bihar, the deputy CM said.

Patna:

Bihar Deputy Chief Minister Samrat Chaudhary on Thursday asserted that the state government would bring in a stringent law to curb exam paper leaks, even as the CBI made its first arrest in the NEET-UG row, taking two people in custody from Patna.

The new law will be passed by the assembly in the upcoming monsoon session of the state legislature, Mr Chaudhary said.

“Following the direction of Chief Minister Nitish Kumar, the state government is going to introduce a stringent law to check cases of question paper leaks in Bihar,” he told PTI.

The monsoon session of the Bihar assembly and state legislative council will be held from July 22 to July 26, spanning five sittings.

“The central government has already notified the Public Examinations (Prevention of Unfair Means) Act, 2024, which aims to prevent unfair means in public examinations and common entrance tests held across the country. Now, the Bihar government has also decided to bring a law, which will curb paper leaks and malpractices in recruitment examinations,” the deputy CM said.

On the CBI probe into the NEET-UG paper leaks, he said, “The investigation is underway… no one will be spared.” The arrested accused were produced before a special court in Patna on Thursday, which sent them to judicial custody, officials said, adding the CBI will now seek the duo’s remand to quiz them.

The eastern state was also recently rocked by the Bihar Public Service Commission’s Teachers Recruitment Exam (TRE)-3 paper leak case.

Meanwhile, mystery surrounded the whereabouts of an alleged solver gang member, a student of AIIMS-Jodhpur, who had appeared for another candidate at a NEET-UG exam centre in Bihar’s Muzaffarpur district on May 5, sources said.

He was caught during biometric attendance at the centre minutes before the test, but was allegedly allowed to go after submitting a written apology to the authorities, they said.

“A team of police officers recently visited the house of the accused in Jodhpur and met his family members. But, he was not there. The officers also visited AIIMS-Jodhpur… but officials there had no information about his whereabouts. We have served notices to his family members as well as the institute’s administration,” Awadhesh Dixit, SP (City), told PTI.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

Hyderabad

Hyderabad: Residential real estate market sees major dip

admin 0

The residential real estate market in Hyderabad experiences steepest quarter-on-quarter (QoQ) decline in housing sales, with a 36 per cent drop in second quarter of 2024.

Updated On – 26 June 2024, 08:54 PM


Hyderabad: Residential real estate market sees major dip


Hyderabad: The residential real estate market in Hyderabad experienced a significant downturn in the second quarter of 2024. The latest report by PropEquity, a real estate data analytics firm, reveals a significant drop in both new launches and sales during the April-June quarter of 2024.

Among the nine major cities – Mumbai, Delhi NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Pune, Navi Mumbai,https://telanganatoday.com/tag/qoq and Thane – Hyderabad experienced the steepest quarter-on-quarter (QoQ) decline in housing sales, with a 36 per cent drop.

In Q2 2024, 15,016 units were sold, compared to 23,595 units in Q1 2024. New residential launches in Hyderabad also saw a significant decrease, with 11,603 units launched—a 19 per cent decline from the previous quarter (Q1 2024).

Also, compared to same period last year (Q2 2023), Hyderabad experienced a 36 per cent decrease in new residential launches, dropping from 18,232 units launched to 11,603 units in Q2 2024. Regarding sales, Hyderabad saw a 20 per cent year-on-year (YoY) decline, with 18,757 units sold in Q2 2023 compared to 15,016 units in Q2 2024.

In contrast, Delhi, Bengaluru, and Chennai recorded YoY growth rates of 95 per cent, 67 per cent, and 21 per cent respectively in residential launches. Hyderabad’s decline was second only to Pune, which saw a 47 per cent drop. For housing sales, Mumbai and Kolkata showed increases of 27 per cent YoY, while Hyderabad experienced a 20 per cent decrease, followed by Pune at 15 per cent.

“The marginal drop in new launch supply across top Tier 1 cities is primarily due to the election quarter and the typically sluggish nature of Q2. However, the higher absorption compared to new supply signifies the ongoing robustness and good health of the residential real estate market post-COVID,” said Samir Jasuja, CEO & MD of PropEquity.

Across nine major cities, 1,19,901 units were sold in Q2 2024, an 18 per cent decline from the previous quarter’s 146,147 units. On a year-on-year basis, housing sales saw a marginal dip of 2 per cent. New housing supply has also witnessed a seven percent decline on a QoQ basis with 97,331 units launched in Q2 2024 as compared to 1,04,391 units in Q1 2024.