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The Hindu
7 days ago
- Science
- The Hindu
Environment impact study for Great Nicobar project downplays earthquake risk
The Environment Impact Assessment (EIA) study carried out for the ₹72,000-crore Great Nicobar Infrastructure Project (GNIP) downplays the risk of future earthquakes that could trigger tsunamis on the scale that was seen in 2004, despite several scientists suggesting that few on-ground scientific assessments have been done in the region. According to the nearly 900-page-long EIA report commissioned by the Andaman and Nicobar Islands Integrated Development Corporation and executed by a private consultant, Vimta Labs, the probability of a mega earthquake, such as the earthquake of 9.2 magnitude that led to the 2004 tragedy, was 'low'. The EIA study, while acknowledging the region's proximity and susceptibility to massive earthquakes, primarily draws on a 2019 study by scientists of the Indian Institute of Technology-Kanpur stating that the 'return period', a term for the likelihood of a similar-sized earthquake reoccurring, is 420–750 years for mega-earthquakes (magnitude of 9 or more). The return period is a shorter 80-120 years for large-magnitude earthquakes (>7.5). EXPLAINED | The prospect of energy exploration at Andaman The IIT-Kanpur report had analysed sediments from the Badabalu beach in South Andaman and revealed evidence of at least seven large tsunami events in the last 8,000 years in the region. The report states: 'Andaman Segment has enough accumulated strain to trigger a mega tsunamigenic subduction zone earthquake in near future and that there was a 2,000-year gap in the region's sediment history added uncertainty to the prediction of future earthquakes.' This bit doesn't appear in the EIA study. Speaking to The Hindu, Professor Javed Malik, the scientist who led the IIT-Kanpur study, said while their study did trace the history of major tsunamis, planners of any major infrastructure project in the Nicobar Islands should ideally conduct a 'site-specific study'. This was because an earthquake, such as the one in 2004 that was centred in Indonesia's Banda Aceh, could play out differently if the origin point was the Nicobar Islands. The Andaman-Sumatra fault line was known to be vulnerable to massive earthquakes and there was still insufficient knowledge regarding what stretches along this line were likely to rupture. He said in 2020, in a meeting with government officials, he had pointed out that studies similar to those conducted in Andaman ought to be done in Car Nicobar and Campbell areas of Nicobar, but he was still waiting to hear on it. 'Not only can we get insight into historical earthquakes but we can estimate inundation patterns and this can help plan infrastructure projects,' he added. Also Read | Great Nicobar project: Shipping Ministry proposes cruise terminal, high-end tourism infra Other scientists suggest that there are multiple sources of tsunamigenic-earthquakes that are unknown. C.P. Rajendran, geo-scientist and professor at the National Institute of Advanced Studies, Bengaluru, said that his own studies over the years and emerging studies have shown that while the Banda Aceh event may have released a certain amount of pent-up energy, there were several other 'parallel rupture lines south of the Andamans [and towards Nicobar] whose pent-up energy and history were unknown'. 'To add to that, earthquake recurrence is a non-linear process. You could have centuries without any mega-quake and then suddenly a massive one. There are local fault lines in the Great Nicobar Island [GNI] as well as changes in land levels prior to a massive earthquake. This is an extremely geo-dynamic area and major infrastructure projects here are particularly vulnerable,' he told The Hindu. 'It is better to avoid such an area for a port or a container terminal.' A senior scientist in the Ministry of Earth Sciences acknowledged that while no specific site studies in the Nicobar Islands were commissioned for the project, it would be impossible to forecast when a massive earthquake was likely and a 'calculated risk' had to be taken in executing the project. 'Depending on the nature of buildings and infrastructure, design codes will be incorporated but we can never say when the next major quake or tsunami will occur. There is much that is unknown,' the scientist said. Also Read | Tribals in Great Nicobar not against development but lack info about mega project: NCST member The GNIP envisages a trans-shipment port, an international airport, township development, and a 450 Megavolt-Amperes (MVA) gas and solar-based power plant in the GNI. Though accorded an environment and preliminary forest clearance by the Centre, concerns about the potential loss of biodiversity, tree-felling, and impact on resident tribes prompted the National Green Tribunal to order a review of the environmental aspects of the project. The islands were among the worst affected regions during the 2004 Indian Ocean tsunami-earthquake that claimed at least 1,500 lives. Atleast 10,000 Indians perished in the tsunami. The region, which comes under the highest seismological category of five, is prone to earthquakes as it has the Indian plate diving beneath the Burmese Microplate along the Andaman Trench in a process known as 'Subduction.'
Business Standard
23-05-2025
- Business
- Business Standard
Vimta Labs allots 18,272 equity shares under ESOP
Vimta Labs has allotted 18,272 equity shares under ESOP on 23 May 2025. The paid-up share capital of the Company has accordingly increased from Rs. 4,44,69,024 consisting of 2,22,34,512 equity shares having a face value of Rs. 2 each to Rs. 4,45,05,568 consisting of 2,22,52,784 equity shares having a face value of Rs. 2 each. Connect with us on WhatsApp
Business Standard
29-04-2025
- Business
- Business Standard
Nifty trades above 24,350; European mrkt opens higher
The frontline indices traded with small gains in the afternoon trade, despite mixed global cues and ongoing concerns over potential tariff changes and rising geopolitical tensions. The Nifty traded above the 24,350 mark. IT and PSU bank shares advanced, while pharma, metal and media shares declined. At 13:30 IST, the barometer index, the S&P BSE Sensex, added 205.22 points or 0.26% to 80,355.06. The Nifty 50 index rose 38.35 points or 0.16% to 24,367. In the broader market, the S&P BSE Mid-Cap index rose 0.34% and the S&P BSE Small-Cap index added 0.20%. The market breadth was negative. On the BSE, 1,855 shares rose and 1,907 shares fell. A total of 167 shares were unchanged. The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, added 2.24% to 17.32. Gainers & Losers: Bharat Electronics (up 3.93%), Reliance Industries (up 2.92%), Tech Mahindra (up 2.26%), Tata Consultancy Services (up 1.26%) and Infosys (up 1.16%) were the major Nifty50 gainers. Power Grid Corporation of India (down 2.27%), UltraTech Cement (down 2.15%), Dr. Reddy's Laboratories (down 2.14%), Coal India (down 1.74%) and Oil & Natural Gas Corporation (down 1.40%) were the major Nifty50 Losers. Stocks in Spotlight: Hexaware Technologies rallied 3.23% after the companys consolidated net profit increased 2.6% to Rs 327.2 crore on 1.7% rise in revenue from operations to Rs 3,207.9 crore in Q1 CY25 over Q1 CY24. Vimta Labs gained 1.31% after the company reported a 31.2% increase in net profit from continuing operations to Rs 18.32 crore on a 31.4% rise in total income to Rs 96.08 crore in Q4 FY25 as compared with Q4 FY24. The board of Vimta Labs has granted its approval for increasing the companys borrowing powers up to Rs 300 crore, subject to approval of shareholders at the ensuing annual general meeting. The companys board has approved a dividend of Rs 2 per equity share for the financial year 2024-25. The board has also recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of shareholders in the ensuing AGM. Firstsource Solutions fell 1.28%. The companys consolidated net profit rose 20.37% to Rs 160.69 crore on a 29.86% jump in revenue from operations to Rs 2,167.77 crore in Q4 FY25 over Q4 FY25. Hatsun Agro Product slipped 5.68% after the companys consolidated net profit declined 17.52% to Rs 43.01 crore in Q4 FY25 as against Rs 52.15 crore posted in Q4 FY24. However, revenue from operations rose 9.57% YoY to Rs 2,242.85 crore during the quarter ended 31 March 2024. RPG Life Sciences advanced 1.01% after the company reported a 64.3% increase in net profit to Rs 21.75 crore in Q4 FY25 from Rs 13.24 crore in Q4 FY25. Net sales rose by 12.7% year-over-year (YoY) to Rs 143.09 crore during the period under review. Central Bank of India rose 1.44% after the banks standalone net profit jumped 28.02% to Rs 1,033.55 crore, driven by a 7.57% rise in total income to Rs 10,432.56 crore in Q4 FY25 compared to Q4 FY24. Global Markets: European markets opened higher on Tuesday, as investors parsed a flurry of earnings for indications of the impact of U.S. tariffs and global economic uncertainty. Asian stocks traded higher after U.S. President Donald Trumps administration said that it would move to reduce the impact of auto tariffs, while investors also assessed company earnings. Meanwhile, market watchers were glued to updates on negotiations between the U.S. and various countries in the region, hoping for any signs of a breakthrough. In Japan, markets were closed for a public holiday. Back in the U.S., Wall Street served up modest gains on Monday. The Dow Jones Industrial Average added 0.3%, the S&P 500 inched up 0.1%, and the Nasdaq Composite dipped ever so slightly by 0.1%, as investors digested fresh comments from U.S. Treasury Secretary Scott Bessent. In an interview, Bessent struck a cautiously optimistic tone, mentioning that many countries have offered "very good" tariff proposals to the U.S. He also emphasized that all parts of the U.S. government remain in touch with China although Beijing earlier insisted no talks had happened. Investors are gearing up for a packed calendar, featuring the Federal Reserves favorite inflation metric the PCE Price Index along with the highly anticipated monthly jobs report. Plus, first-quarter GDP numbers are due, which could set the tone for the markets heading into the summer. The so-called "Magnificent Seven" megacaps Apple, Microsoft, Amazon, and Meta Platforms among them are all set to drop their earnings this week.
Business Standard
29-04-2025
- Business
- Business Standard
Vimta Labs rises after strong Q4 performance; board OKs 1:1 bonus share issue
Vimta Labs gained 1.42% to Rs 1035.65 after the company reported 31.2% increase in net profit from continuing operations to Rs 18.32 crore on a 31.4% rise in total income to Rs 96.08 crore in Q4 FY25 as compared with Q4 FY24. EBITDA improved by 31.9% to Rs 34.68 crore in Q4 FY25 from Rs 26.30 crore in Q4 FY24. EBITDA margin was 36.1% in Q4 FY25 as against 36.0% in Q4 FY24. Profit before tax in Q4 FY25 stood at Rs 25.03 crore, up by 39.5% from Rs 17.94 crore recorded in Q4 FY24. Tax outgo for the fourth quarter was Rs 6.71 crore as against Rs 3.98 crore in the same period last year. Vimta Labs has reported 36.8% rise in net profit to Rs 66.75 crore on a 19.1% increase in total income to Rs 348.22 crore in FY25 as compared with FY24. Total debt as of 31 March 2025 stood at Rs. 8.5 crore. Cash and cash equivalents, including bank balance, stood at Rs 32.9 crore as of 31 March 2025. The board of Vimta Labs has granted its approval for increasing the companys borrowing powers up to Rs 300 crore, subject to approval of shareholders at the ensuing annual general meeting. The companys board has approved a dividend of Rs 2 per equity share for the financial year 2024-25. The board has also recommended the issue of bonus shares in the ratio of 1:1, subject to the approval of shareholders in the ensuing AGM. Vimta Labs has announced its strategic expansion into Biologics Contract Research and Development services. "This foray marks a significant milestone in our growth journey, reinforcing our commitment to serve the evolving needs of the biopharmaceutical industry. The new service line will focus on Novel Biologic Entities (NBEs), biosimilars, and peptide-based therapeutics using both microbial and mammalian platforms. Capabilities will include end-to-end development from clone and process development to drug product development and biosimilarity assessment. Development lab is being set up, with requisite manpower by Q3 of FY26, and revenues are expected to commence from FY27, the company stated. Harita Vasireddi, managing director, Vimta Labs, said: "We are pleased to report strong earnings and good growth this year, driven by growth in pharmaceutical services. Our pharma business benefited from increased traction in clinical and analytical services, supported by capacity expansion and deeper client engagements. We are excited to announce our entry into Biologics Contract R&D services, a strategic move that aligns with the future of healthcare and enhances our capabilities across the biopharma value chain. This initiative will enable Vimta to offer end-to-end support for biologics development, reinforcing our position as a trusted partner in high-quality, science-driven innovation." Vimta Labs is a leading contract research and testing organization, providing food, agri, bio/pharmaceutical, medical device, speciality chemical, and electronics companies an integrated scientific, technical, and regulatory expertise to support all stages of product development and manufacturing process. Vimta also provides environmental assessments and testing services.
Business Standard
28-04-2025
- Business
- Business Standard
Vimta Labs standalone net profit rises 48.34% in the March 2025 quarter
Sales rise 29.85% to Rs 94.44 crore Net profit of Vimta Labs rose 48.34% to Rs 18.32 crore in the quarter ended March 2025 as against Rs 12.35 crore during the previous quarter ended March 2024. Sales rose 29.85% to Rs 94.44 crore in the quarter ended March 2025 as against Rs 72.73 crore during the previous quarter ended March 2024. For the full year,net profit rose 64.20% to Rs 67.34 crore in the year ended March 2025 as against Rs 41.01 crore during the previous year ended March 2024. Sales rose 19.19% to Rs 343.98 crore in the year ended March 2025 as against Rs 288.60 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 94.4472.73 30 343.98288.60 19 OPM % 34.9935.64 - 35.4532.58 - PBDT 34.2425.77 33 124.2995.64 30 PBT 25.0317.93 40 89.0062.50 42 NP 18.3212.35 48 67.3441.01 64
