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Illegal shanties in Adarsh Colony: Tens of thousands rendered homeless in UT admn's demolition action to reclaim 12 acres
Illegal shanties in Adarsh Colony: Tens of thousands rendered homeless in UT admn's demolition action to reclaim 12 acres

Indian Express

timea day ago

  • Indian Express

Illegal shanties in Adarsh Colony: Tens of thousands rendered homeless in UT admn's demolition action to reclaim 12 acres

Leaving tens of thousands of people homeless, around 800-1,000 illegal shanties were demolished to reclaim 12 acres of land, here at Adarsh Colony, located between Sector 53 and 54, Chandigarh on Thursday. The colony came up nearly two decades ago on approximately six acres of government land behind the Furniture Market in Sector 53, and 54. The estimated value of the encroached land is Rs 250 crore. Speaking on the occasion, Chandigarh Deputy Commissioner Nishant Kumar stated that 'this drive is not just about reclaiming land but sending a clear message that illegal encroachments will not be tolerated. The reclaimed land will now be utilised in accordance with planned urban development goals to benefit the larger community'. The operation commenced in the early hours of the morning, in the vigil of Chandigarh Police, which deployed its personnel to maintain law and order and to facilitate the safe and smooth execution of the drive. 'The entire operation was conducted under the direct supervision of senior officers of the Chandigarh Administration and police, reflecting the administration's firm resolve to maintain urban discipline and uphold the rule of law,' an official of Chandigarh Administration said. The official added that this initiative is part of a larger anti-encroachment campaign aimed at reclaiming government land and safeguarding public spaces from illegal occupations. The administration claimed it had served multiple notices and warnings to unauthorised occupants in the recent past, providing ample opportunity for voluntary compliance. Despite previous notices, several structures and makeshift dwellings had continued to encroach upon government land. Acting decisively, the administration said it mobilised all necessary machinery, including earth movers and support teams, to remove these illegal constructions, added the official. Only one slum now: Shahpur Colony in Sector 38 Following the demolition of Adarsh Colony, only one slum — Shahpur Colony in Sector 38 — will remain, which has about 300 shanties spread across four acres of government land, valued at Rs 150 crore. Earlier, on May 6, the UT Estate Office had demolished Janta Colony in Sector 25, reclaiming around 10 acres of government land worth Rs 350 crore. The reclaimed site has been earmarked for a dispensary, primary school, community centre and shopping area. Prior to that, on April 24, over 1,000 makeshift structures were razed in Sanjay Colony in Industrial Area, Phase 1. The colony had been encroaching on nearly six acres of prime government land. The UT administration has been working to make Chandigarh slum-free since the early 2000s. In 2006, it launched a rehabilitation initiative under the Chandigarh Small Flats Scheme, earmarking 356 acres for the construction of 25,728 flats intended to house 23,841 families from 18 unauthorised colonies. Over the years, the administration has carried out multiple demolition drives. In 2013, it razed Colony Number 5, followed by Colony Number 4 in 2022.

Anil Ambani-owned Reliance Infra share price hits 5% upper circuit as subsidiary partners with Dassault Aviation
Anil Ambani-owned Reliance Infra share price hits 5% upper circuit as subsidiary partners with Dassault Aviation

Mint

time3 days ago

  • Business
  • Mint

Anil Ambani-owned Reliance Infra share price hits 5% upper circuit as subsidiary partners with Dassault Aviation

Anil Ambani-owned Reliance Infra shares hit a 5 per cent upper circuit in intraday trade on the BSE on Wednesday, June 18, after the company announced its subsidiary had partnered with Dassault Aviation to manufacture Falcon 2000 jets in India. Reliance Infrastructure share price opened at ₹ 365.95 against its previous close of ₹ 367.70 and jumped 5 per cent to hit its upper circuit of ₹ 386.05. Through an exchange filing during market hours on June 18, the Anil Ambani-owned firm announced that its subsidiary Reliance Aerostructure Limited had entered a strategic partnership with Dassault Aviation to manufacture Falcon 2000 business executive jets in India for the global markets. "Dassault Aviation and Reliance Infrastructure's subsidiary, Reliance Aerostructure Limited (RAL), today at the Paris Air Show announced a landmark strategic partnership to manufacture Falcon 2000 business executive jets in India for the global markets. The partnership represents a significant step in advancing India's aerospace manufacturing capabilities," Reliance Infrastructure said in its exchange filing on June 18. According to Reliance Infra, Dassault Aviation will manufacture Falcon 2000 jets outside of France for the first time in its storied history. "This pioneering initiative will see India emerge as a strategic centre for high-end business jet manufacturing. It marks a historic moment for Indian aerospace and the manufacturing industry, as the landmark agreement paves the way for India's entry into the elite club of countries producing next-generation business jets, alongside the United StatesFrance, Canada, and Brazil," the company said. According to the exchange filing, Dassault Aviation will also transfer the assembly of the front section of Falcon 8X and Falcon 6X, in addition to the wings and complete fuselage assembly of Falcon 2000, to DRAL. The transfer of assembly operations combined with major facility upgrades will pave the way for the first flight of Falcon 2000 'Made in India' from Indian soil by 2028. Reliance Infrastructure share price has been on a roll over the last year, surging 83 per cent , despite market volatility. Year-to-date, the stock has gained 21 per cent, hitting a 52-week high of ₹ 421 recently on June 11. The stock hit a 52-week low of ₹ 169.75 on July 23 last year. Read all market-related news here Read more stories by Nishant Kumar

Small-cap textile stock jumps 4% despite weak markets; experts see further upside. Do you own?
Small-cap textile stock jumps 4% despite weak markets; experts see further upside. Do you own?

Mint

time3 days ago

  • Business
  • Mint

Small-cap textile stock jumps 4% despite weak markets; experts see further upside. Do you own?

Small-cap textile stock Sanathan Textiles jumped 4 per cent in intraday trade on the BSE on Wednesday, June 18, defying weak market sentiment. Sanathan Textiles share price opened at ₹ 440 against its previous close of ₹ 441.95 and rose 3.8 per cent to an intraday high of ₹ 458.60. The small-cap stock, however, pared some gains and traded 1.7 per cent higher at ₹ 466.55 around 1:40 PM. Sanathan Textiles shares debuted on Indian bourses on December 27 last year. Against its issue price of ₹ 321, the small-cap stock has jumped 40 per cent. Year-to-date, the stock has gained 23 per cent. On a monthly scale, however, the stock is down about 3 per cent in June so far, looking set to snap its three-month gaining streak. Sanathan Textiles share price hit an all-time high of ₹ 487.95 on May 21 after hitting an all-time low of ₹ 287.05 on March 3 this year. Brokerage firm Axis Securities is bullish on the stock as it believes the company is well-placed to gain from industry tailwinds, capacity expansion and improved geographic reach. Axis underscored Sanathan holds rich experience in the Industry and has built long-term relationships with major clients. "We expect the company to post a revenue growth of 47 per cent, 31 per cent in FY26 and FY27, respectively, with steady improvement in margins. We recommend a buy rating on the stock with a target price of ₹ 490, implying an upside of 11 per cent," said Axis Securities. "The company's capacity expansion comes at the right time when the Indian textile sector is gaining traction, supported by government policies and global tailwinds such as the India-UK FTA and favourable tariff scenarios compared to global competitors. It aims to reach a topline of ₹ 4,600-4,800 crore with EBITDA margins of 10-11 per cent (which may improve further), marking remarkable growth compared to FY25," Axis Securities said. Axis highlighted that the upcoming Punjab plant is expected to be operational by Q1FY26 (Phase-I), increasing total capacity to 5.5 Lc MTPA by FY28 in a phased manner. "Its current capacities are running at optimum utilisation, and it expects to quickly ramp up the utilisation in the new facilities based on the expected demand," said Axis. Moreover, the brokerage firm pointed out that most of the customers for polyester yarn are concentrated in the North, and Sanathan is expected to gain a significant cost advantage due to reduced transportation costs. "The company is also expected to benefit from lower power and employee costs in the new facility, while raw material availability is expected to improve as key raw material suppliers are located in the same region. Overall, it expects to see considerable improvement in EBITDA margins coupled with revenue/volume growth," said Axis Securities. Read all market-related news here Read more stories by Nishant Kumar Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions, as market conditions can change rapidly, and circumstances may vary.

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