Heavy inflow puts paid to work on replacing TB dam's 19th crest gate

Hardware Tools And Machinery Projects Private Limited, a Ahmedabad-based company, has won the contract to supply all the 33 gates, to replace the old ones, at the dam.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

Time of India

21 minutes ago

• Time of India

Nuvoco Vistas makes Rs 1,800 crore payment to complete Vadraj cement acquisition

Nirma Group's Nuvoco Vistas Corp has completed its acquisition of debt-ridden Vadraj Cement by making a payment of Rs 1800 crore to lenders, led by Punjab National Bank and Union Bank of India. This acquisition will boost Nuvoco Vistas' installed cement capacity by over 20%, reaching around 31 MTPA, marking its third acquisition after Lafarge Cement and Emami Cement. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Popular in Ind'l Goods/Svs 1. India Cements to sell its subsidiary Industrial Chemicals Nirma Group's Nuvoco Vistas Corp has made the Rs 1800 crore payment to lenders led by Punjab National Bank (PNB) and Union Bank of India completing its acquisition of the debt-ridden Vadraj Cement . The money was paid to lenders on Saturday, allowing them to write back their provisions this quarter, two people aware of the details said."The money came to lenders on Saturday and has been distributed. There were some delays due to some litigation but now that everything is settled, the company transferred the money well ahead of the June 24 deadline," said one of the persons cited with 25% of the more than Rs 8000 crore debt stands to gain Rs 431 crore, while Union Bank will get Rs 345 crore, calculations by ET acquisition will help Nuvoco Vistas boost its installed cement capacity by over 20% reaching around 31 MTPA and is the company's third acquisition after Lafarge Cement and Emami Cement. A Mumbai bench of the NCLT had approved the acquisition in Vadraj Cement, formerly owned by ABG Shipyard, has a 6 million tonne grinding unit in Surat and will add to Nuvoco Vistas' existing production capacity of 25 million tonne by more than 20%.The acquisition was undertaken through Vanya Corp, a wholly-owned subsidiary of Nuvoco Vistas. Subsequently, Vanya will be merged with Vadraj Cement, according to the resolution plan. Vadraj Cement will ultimately become the wholly-owned subsidiary of the Rs 1,800 crore offer outbid Adani Group at an auction under the court-monitored corporate insolvency, ET had reported in January this year. Adani group-backed Ambuja Cement had partnered with Prudent ARC-backed RKG Fund to acquire the Gujarat-based cement the Rs 1,800 crore offered by Nuvoco Vistas, Rs 1,725 crore will be used for repaying financial creditors' dues, and the balance is set aside for operational credit, dues to employees, an insolvency resolution process costs.

New Indian Express

27 minutes ago

• New Indian Express

FedEx founder Fred Smith, a Marine Corps veteran who revolutionised package delivery, dies at 80

MEMPHIS: Fred Smith, the FedEx Corp. founder who revolutionised the express delivery industry, has died, the company said. He was 80. FedEx started operating in 1973, delivering small parcels and documents more quickly than the postal service. Over the next half-century, Smith, a Marine Corps veteran, oversaw the growth of a company that became something of an economic bellwether because so many other companies rely on it. Memphis, Tennessee-based FedEx became a global transportation and logistics company that averages 17 million shipments per business day. Smith stepped down as CEO in 2022 but remained executive chairman. Smith, a 1966 graduate of Yale University, used a business theory he came up with in college to create a delivery system based on coordinated air cargo flights centered on a main hub, a "hub and spokes" system, as it became known. The company also played a major role in the shift by American business and industry to a greater use of time-sensitive deliveries and less dependence on large inventories and warehouses. Smith once told The Associated Press that he came up with the name Federal Express because he wanted the company to sound big and important when in fact it was a start-up operation with a future far from assured.

Economic Times

33 minutes ago

• Economic Times

Godrej Properties shares in focus as township launch nets Rs 2,000 crore in sales

Shares of Godrej Properties are expected to be in focus on Monday, June 23, after the Mumbai-based real estate developer announced that it has sold homes worth over Rs 2,000 crore at the launch of its township project Godrej MSR City in North Bengaluru. ADVERTISEMENT The launch, which took place in April 2025, is described as the most successful launch ever in the North Bengaluru micro-market in terms of both value and volume of homes sold. The first phase of the project, Barca @ Godrej MSR City, saw over 1,450 homes sold, covering more than 2.2 million square feet of area. The township project is located in Devanahalli, one of the fastest-growing urban corridors in North to the company, Godrej MSR City is GPL's largest township project in Bengaluru, with a total development potential of approximately 5.6 million square feet, of which a substantial portion remains unlaunched and is expected to be brought to market over the next several @ Godrej MSR City features Mediterranean-inspired homes surrounded by expansive green zones and open spaces. It also includes a 1.5 lakh sq. ft. clubhouse with a range of amenities for leisure, wellness, and social interaction, designed to meet evolving urban lifestyle demands. ADVERTISEMENT Godrej Properties highlighted that the successful launch not only underscores strong consumer demand but also strengthens its presence in the Bengaluru market, which continues to be a key growth driver for the Devanahalli region, where the township is located, has emerged as a real estate hotspot due to its proximity to Kempegowda International Airport, Bellary Road, upcoming metro stations, and the presence of IT and aerospace hubs. ADVERTISEMENT The company noted that the area is seeing rapid infrastructure development, further enhancing its appeal for residential and investment purposes.'We are delighted with the response to our project, Godrej MSR City. The strong demand reflects growing consumer preference for thoughtfully designed communities that offer a blend of lifestyle, connectivity, and long-term value. This success reaffirms our commitment to delivering high-quality developments that resonate with the aspirations of modern homebuyers. We would like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej MSR City offers its residents an outstanding living experience,' said Gaurav Pandey, MD & CEO of Godrej Properties. ADVERTISEMENT On Friday, Godrej Properties shares closed 2.11% higher at Rs 2,430.25 on the BSE. Also read: How will US strikes on Iran affect Indian markets this week? (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)