Latest news with #Mines&Geology
Hans India
06-07-2025
- Politics
- Hans India
Govt forms cabinet subcommittee to probe ‘ illegal mining' scam
Bengaluru: TheKarnataka government on Saturday constituted a six-member cabinet subcommittee headed by Law and Parliamentary Affairs Minister H K Patil to look into the 'illegal mining' issue and recommend appropriate actions. The subcommittee has been asked to submit its report within a month. It comprises Home Minister G Parameshwara, Food and Civil Supplies Minister K H Muniyappa, Social Welfare Minister H C Mahadevappa, Forest Minister Eshwar Khandre, and Mines & Geology Minister S S Mallikarjun. The state cabinet, headed by Chief Minister Siddaramaiah, had decided to form the subcommittee during its meeting on July 2. 'A cabinet subcommittee has been constituted to discuss and make appropriate recommendations on steps to be taken regarding irregularities in mining, particularly the appointment of a Recovery Commissioner and the establishment of a fast-track court for the speedy disposal of cases,' an official note said. The decision came after Patil wrote to Chief Minister Siddaramaiah, expressing concern over the government's 'inaction in pursuing illegal mining cases to their logical conclusion', ensuring that the culprits are punished, and recovering the state's lost wealth. In his seven-page letter, Patil pointed out that only 7.6 per cent of the cases related to illegal mining, which allegedly occurred between 2007 and 2011 and caused an estimated loss of Rs 1.5 lakh crore to the state exchequer, have been investigated thus far. The minister also noted widespread public outrage over the government's 'perceived lack of sincerity and commitment' to ensuring adequate punishment for those involved and recovering the state's wealth, despite the scale of the alleged loot. He further reminded Siddaramaiah that he had led a 320-km foot march to Ballari in 2010 to protest against the 'illegal mining' scam when the Congress was in opposit.
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Business Standard
16-06-2025
- Business
- Business Standard
Birla Corp share up 3% on emerging preferred bidder for this deal; details
Birla Corporation share price: Birla Corporation shares were in demand on Monday, June 16, 2025, with the scrip rising up to 3.13 per cent to hit an intraday high of ₹1,396.70 per share. At 9:23 AM, Birla Corporation shares were trading 1.90 per cent higher at ₹1,380 per share. In comparison, BSE Sensex was trading 0.29 per cent higher at 81,354.36 levels. Why did Birla Corporation share rise in trade? Birla Corporation share price rose after the company emerged as the 'Preferred Bidder' for the grant of mining lease for Gourum Khan Ki Dhani (South) Limestone Block, on the highest final price offer of 20.60 per cent. The block is situated in District Jaisalmer, Rajasthan over an area of 499.6394 hectares. In an exchange filing, Birla Corporation said, 'We wish to inform you that the Government of Rajasthan, Director of Mines & Geology vide Notification dated June 12, 2025, has declared the Company as the 'Preferred Bidder' for grant of mining lease for Gourum Khan Ki Dhani (South) Limestone Block, on the highest final price offer of 20.60 per cent submitted by the Company. The aforesaid block is situated in District Jaisalmer, Rajasthan over an area of 499.6394 hectares.' Catch Stock Market Updates Today LIVE Birla Corporation results Birla Corporation reported a 33 per cent year-on-year (Y-o-Y) rise in consolidated net profit to ₹257 crore for the March quarter of FY24-25, rebounding strongly after three challenging quarters for the cement sector. The turnaround was driven by a surge in demand and improved pricing, which boosted capacity utilisation to 105 per cent during the quarter. Despite a slight dip in realisation to ₹5,103 per tonne from ₹5,178 per tonne a year earlier—attributed to a shift in geographical sales mix—the company's consolidated revenue rose 7 per cent Y-o-Y to ₹2,863 crore. Ebitda per tonne stood at ₹1,014, marking a 5 per cent Y-o-Y increase and a sharp 78 per cent jump sequentially, making it one of the highest in recent years. The Cement Division's operating profit margin improved to 20 per cent in Q4, up from 18.6 per cent in the same period last year. For the full year, the margin stood at 14 per cent, slightly below the 15.5 per cent recorded in FY23-24. About Birla Corporation Birla Corporation, the flagship company of the MP Birla Group, was established in 1919 as Birla Jute Manufacturing Company Limited, under the leadership of MP Birla. The company has a presence in both the cement and jute sectors. Its Birla Jute Mills holds the distinction of being the first jute mill set up by an Indian entrepreneur. Through its subsidiary RCCPL Pvt Ltd, Birla Corporation operates 10 cement plants across eight locations in India, with a combined annual installed capacity of 20 million tonnes. Under the MP Birla Cement brand, the company offers a wide range of cement products tailored to various climatic conditions and consumer needs. It also markets construction chemicals and wall putty as part of its building solutions portfolio.
Hans India
08-06-2025
- Business
- Hans India
Bandar port will start ops from July 2026
Vijayawada: Minister for Mines & Geology Kollu Ravindra on Saturday said that Bandar port would start functioning from July 2026. He said the port would increase employment opportunities for local youth. Participating in the Machilipatnam Beach Festival on Saturday, the minister said that Chief Minister N Chandrababu Naidu and Deputy Chief Minister Pawan Kalyan had been taking steps to create employment opportunities for youth and accelerate economic growth in State. The minister said that the Masula Beach Festival was organised from 2014, but later the YSRCP government neglected the festival. The Minister said that a detailed project report (DPR) had been prepared for the development of tourism in Machilipatnam under the Centre's Swadeshi Darshan scheme. He said entrepreneurs were coming forward to develop resorts at Manginapudi beach. He said players from 29 States attended the national beach kabaddi championship in this year's festival. District Collector DK Balaji, SP R Gangadhara Rao and other officials participated in the beach festival on the second day on Saturday.
