Tag: Indias

  • PM Modi flags off India’s sixth Vande Bharat train on Nagpur-Bilaspur route

    PM Modi flags off India’s sixth Vande Bharat train on Nagpur-Bilaspur route

    [ad_1]

    Prime Minister Narendra Modi on 12 December flagged off India’s sixth Vande Bharat Express between Bilaspur (Chattisgarh)-Nagpur (Maharashtra) route. PM Modi flagged off the train from Nagpur railway station and was accompanied by Maharashtra CM Eknath Shinde, Deputy CM Devendra Fadnavis and Union Minister for Road Transport & Highways Nitin Gadkari.

    The Vande Bharat Express can run up to a maximum speed of 160 kmph and has travel classes like Shatabdi Train but with better facilities. It aims to provide a totally new travel experience to passengers.

    Vande Bharat Express is India’s first semi-highspeed train equipped with world-class passenger amenities. It can achieve high speeds due to faster acceleration and deceleration and will reduce journey time by 25 percent to 45 percent.

    The Vande Bharat Express train has an intelligent braking system that enables better acceleration and deceleration. All coaches are equipped with automatic doors; GPS-based audio-visual passenger information system, on-board hotspot Wi-Fi for entertainment purposes, and comfortable seating. The executive class also has rotating chairs

    Here are 5 points your need to know about the Bilaspur- Nagpur Vande Bharat Express

    The Bilaspur- Nagpur Vande Bharat Express will be operated by the Southeast Central Railways (SECR).

    It will have scheduled stops at Raipur, Durg and Gondia.

    The Bilaspur-Nagpur Vande Bharat Express will operate six days a week.

    It will complete one leg of the journey in about 5 hours and 20 minutes.

    The Vande Bharat Express can run up to a maximum speed of 160 kmph and has travel classes like Shatabdi Train but with better facilities.

    Apart from this, PM will also launch phase-I of the Nagpur Metro. He will flag off two metro trains – from Khapri to Automotive Square (Orange Line) and from Prajapati Nagar to Lokmanya Nagar (Aqua line) – at Khapri Metro Station. Around 4,000 police personnel from different units will be on security duty in Nagpur during the prime minister’s visit to the city on Sunday, officials told PTI.

    According to the Prime Minister’s Office, PM Modi will also inaugurate Phase-I of Hindu Hrudaysamrat Balasaheb Thackeray Maharashtra Samruddhi Mahamarg, covering a distance of 520 Kms and connecting Nagpur and Shirdi. Espousing the Prime Minister’s vision of integrated planning and coordinated implementation of infrastructure connectivity projects under PM Gati Shakti, the Samruddhi Mahamarg will connect to the Delhi Mumbai Expressway, Jawaharlal Nehru Port Trust and tourist locations like Ajanta Ellora Caves, Shirdi, Verul, Lonar, etc.

    Prime Minister’s commitment to strengthen health infrastructure across the country will be strengthened through the dedication of AIIMS Nagpur to the nation. “AIIMS Nagpur, being developed at a cost of more than 1575 crore, is a hospital with state-of-the-art facilities, with OPD, IPD, diagnostic services, Operation theatres and 38 departments covering all major speciality and superspeciality subjects of Medical Science. The hospital provides modern health care facilities to the Vidarbha region of Maharashtra and is a boon to the surrounding tribal areas of Gadchiroli, Gondia and Melghat,” it said.

    At the public function in Nagpur, he will lay the foundation stone for the redevelopment of Nagpur Railway Station and Ajni Railway Station, to be redeveloped at a cost of about 590 crore and 360 crore respectively.

    Prime Minister will dedicate Government Maintenance Depot, Ajni (Nagpur) and Kohli-Narkher Section of Nagpur- Itarsi Third line project to the Nation. These projects have been developed at a cost of about 110 crore and about 450 crore respectively.

    The laying of the foundation stone for the National Institute of One Health (NIO), Nagpur by the Prime Minister is a step towards building capacity and infrastructure in the country under the ‘One Health’ approach. Apart from this, the prime minister will lay the foundation stone of the project for pollution abatement of river Nag at Nagpur. The project – under National River Conservation Plan (NRCP) – will be operationalised at a cost of more than 1925 crore.

     

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less

    [ad_2]
    Source link

  • StocX.in launches India’s first private market index

    StocX.in launches India’s first private market index

    [ad_1]

    NEW DELHI: StocX.in, an online unlisted securities portal, has launched India’s first private market index known as StocX Private Market Index (SPMI).

    Until now, there was no way to track the price movements of privately traded securities (i.e the stocks of companies that are not yet listed in the stock market). The biggest challenge in constructing such an index is availability of price. The unlisted market does not have transparent pricing and therefore price may vary from portal to portal and it is quite difficult to compile price movements and build an index. StocX.in claims to have achieved this by using the concepts of indexing & basic statistics, according to a press release.

    StocX.in built the StocX Private Market Index using a methodology known as “Change Percentage.“ The index is computed using 1000 as the base value as on 1January 2022. Daily prices from various dealers such as Stocx.in and other marketplaces are collected and percent change from previous day price is computed. The prices of the shares that are not available for the day or for the previous period are discarded. For the remaining, wherein prices are available, a percentage change is calculated. The average of this percentage change is then used for computing the change in index value.

    The index will track prices of more than 30 companies actively traded in the unlisted market and provide analysis and trends through data analytics.

    The current index value stands at 1067 which means that from the 1 January to 30 November, the average price of securities have risen 6.7%. The index will be updated on a daily basis, said the press release.

    The company claims that the index is free of typical biases that are inherent in most public market indexes like the selection and survivor bias as it automatically includes all companies whose prices are available for two consecutive days and excludes all the companies whose prices are not available. Which means that the index will keep adding and removing companies based on price availability and since it is taking only the percentage of change into consideration, the impact is that overall an investor gets a very good picture of how his portfolio would have done if he had invested in unlisted securities.

    Ishita Agarwal,director of BLACKVOLT Digital Private Limited – operating through its brand StocX.in, said, “We are excited to announce the launch of India’s first private market index. It is a new concept for India. As a thought leader in the unlisted shares space, we plan to bring some interesting insights and data analytics through this index for the consumers and industry participants.”

    Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
    More Less

    [ad_2]
    Source link