Maharashtra: IPS IGP, Krishna Prakash, creates Guinness record swims from Gateway of India to Elephanta Caves
Maharashtra’s senior IPS IGP, Krishna Prakash, has added another feather to his cap with another achievement of swimming against the tide literally to complete the daunting task of swimming from the Gateway of India to Elephanta Caves in the Arabian Sea.
Contrary to the popular swimming route from Elephanta Caves to the Gateway of India, in which competitive swimmers ride the waves of the high tides towards the gateway, Ironman Krishna Prakash took the challenge to swim against the waves and complete a distance of 16.20 km in 5 hours, 26 minutes from the Gateway of India to Elephatnat to beat the early Monday morning blues.
Drowning Prevention Awareness
Krishna Prakash, currently posted as IGP VIP Security, dedicated the expedition to ’Drowning Prevention Awareness’. Trust and hopes to inspire young Indians to try their best to bag an Olympic medal in 10-kilometer open water swimming.
The event was organized by the National Institute of Swimming and recognized by the World Open Water Swimming Association is certified by the Swimming Association of Maharashtra, which is affiliated with the Maharashtra Olympic Association. Jayaprakash Duble, President, JD Sports Foundation, and Jayant Duble, an internationally renowned swimmer, supervised the swim, with flag off by Olympian Suraj Karkera, and Olympian Dhananjay Mahadik presided over the felicitation ceremony after the end of the swim.
After completing his swim, Krishna Prakash gave a powerful message to the youths – “Build Strong Health, Build Strong Nation” with emphasize on the important role of health and fitness in building a prosperous and vibrant nation.
The senior IPS officer displayed remarkable physical and mental strength to prove that anything is possible with dedication and persistent efforts. “It is a testimony to his commitment to promote the importance of fitness and health, not only for the youth and sports enthusiasts, but for the entire nation, said Olympian Dhananjay Mahadik, praising Krishna Prakash for discipline and dedication
Guinness World Book of Records
The 1998 batch IPS, which already holds the Guinness World Book of Records, became the first Indian Government Servant, Civil Servant and Uniformed Services Officer, including Armed Forces and Para Military Forces, to earn the Iron Man title for completing the Ironman Triathlon in 2017. Prakash had finished Ironman Triathlon, one of the most competitive and difficult sporting events in the world, in 2017. Participants are required to complete a 3.8-kilometre swim, a 180.2 kilometre-long bicycle ride, and a 42.2-kilometre run within a set time frame of 16 to 17 hours as part of the triathlon.
Krishna Prakash, a health and sports fitness enthusiast, has served in many capacities, including as Pimpri Chinchwad Police Commissioner and Additional Police Commissioner, Mumbai Police South Region.
He is passionate about tribal welfare and deeply involved in the rehabilitation of the nomadic Phase Pardhis tribal community, denotified by the British rulers as brutal and ruthless dacoits, to dissuade them from illegal and criminal activities.
Tata Motor (Singapore) To Acquire 25% Stake In Swiss E-Mobility Group
TVS Motor Company Limited’s subsidiary, TVS Motor (Singapore) Pte Ltd, has agreed to acquire an additional 25% stake in Swiss E-Mobility Group (Holding) AG (“SEMG”), Switzerland by way of purchase of shares from the existing shareholders, the company announced today through an exchange filing.
SEMG is currently a subsidiary of TVS Motor (Singapore) Pte Ltd and the Company and consequent to the additional acquisition, SEMG will become a wholly owned subsidiary of TVS Motor (Singapore) Pte Ltd and also the Company.
Tata Motors Shares
The shares of Tata Motors Ltd on Friday at 3:30pm IST were at Rs 562.15, up by 0.44 percent.
Opening Bell: Markets Trade Flat Amid Mixed Global Cues; Sensex At 63,182.52, Nifty At 18,738.55
The markets on Thursday morning were trading flat with Sensex at 63,182.52, up by 39.56 points and Nifty was at 18,738.55 with a gain of 12.15 points. Nestle, Tata Motors, NTPC, Bharti Airtel and Power Grid were the top gainers in the morning session whereas Kotak Bank, Axis Bank, TCS, Hindustan Unilever and Tata Steel were the top losers.
Markets on Wednesday
The markets on Wednesday closed higher for the fourth straight session with Sensex at 63,142.96, up by 350.08 and Nifty at 18,726.40 with a gain of 127.40 points. All sectors were in the green with FMCG, Power, oil and gas, capital goods, realty and metal up by 1 per cent each.
Ahead of key economic and policy events next week the Dow Jones Industrial Average added 91.74 points to 33,665.02. However, the S&P 500 dropped by 16.33 at 4,267.52 and Nasdaq ended lower at 13,104.90 down by 171.52 points.
The Asian stock markets on Thursday were mixed with Hong Kong’s Hang Seng was at 19,227.84 with a loss of 24.16 points, South Korea’s KOSPI was relatively flat at 2,610.52 with a dip of 5.08 points and Japan’s Nikkei 225 dropped 6.83 points at 32,906.91. However, Singapore’s SGX Nifty was higher with a gain of 11 points at 18,823.
After oil prices saw a jump of 1 per cent on Wednesday, they were relatively stable on Thursday as investors took into consideration the increasing demand concerns over a global economic slowdown in the backdrop of expected fall in supply from Saudi output cuts. Brent crude futures were down 1 cents at $76.94 per barrel and US West Texas Intermediate crude was at $72.58 per barrel with a gain of 11 cents.
Adani Groups Repays Loans Worth $2.65 Billion, Along With Interest Payment Of $203 Million
Embattled Adani Group on Monday said it has repaid loans aggregating USD 2.65 billion to complete a prepayment programme to cut overall leverage in an attempt to win back investor trust post a damning report of a US short seller. In a Credit Note released on Monday, Adani Group said it has made a full prepayment of USD 2.15 billion of loans that were taken by pledging shares in the conglomerate’s listed firms and also another USD 700 million in loans taken for the acquisition of Ambuja Cement.
Interest Payment of $203 Million
“The prepayment was done along with interest payment of USD 203 million,” it added. Further, the credit update states that the promoters completed the sale of shares in four listed group entities to GQG Partners, a leading global investment firm, for USD 1.87 billion (Rs 15,446 crore).
“The deleveraging programme testifies to the strong liquidity management and capital access at sponsor level even in volatile market conditions, supplementing the solid capital prudence adopted at all portfolio companies,” Adani Group said in the credit update. US short-seller Hindenburg Research in January released a damning report alleging accounting fraud and stock price manipulation at Adani Group, triggering a stock market rout that had erased about USD 145 billion in the conglomerate’s market value at its lowest point.
Adani Group’s Comeback Strategy
Adani Group has denied all allegations by Hindenburg and is plotting a comeback strategy. The group has recast its ambitions as well as prepaid some loans to assuage investors. The credit update further highlights major improvements in key financial metrics – the portfolio’s combined Net Debt to EBITDA ratio has decreased from 3.81 in FY22 to 3.27 in FY23, run rate EBITDA surged from Rs 50,706 crore in FY22 to Rs 66,566 crore in FY23.
The credit update further states that the banking lines of Adani Group continue to show confidence by disbursing new debt and rolling over existing lines of credit. Moreover, rating agencies both domestic and international rating agencies have reaffirmed their ratings in all the group companies.
Debt Service Cover Ratio (DSCR) has improved to 2.02x during FY23 from 1.47x during FY22. Gross Assets increased to Rs 4.23 lakh crore, up by Rs 1.06 lakh crore. Gross Asset / Net Debt cover has improved to 2.26x in FY23 from 1.98x in FY22.
Continued investments in core infra projects
Continued investments in core infra with gross assets of Rs 3.77 lakh crore (89 per cent of the portfolio) provide long-term multi-decadal visibility of cash flow, it said, adding cash balance was higher by 41.5 per cent at Rs 40,351 crore against Rs 28,519 crore. Free Flow from operations – FFO – (EBITDA less finance cost less tax paid) was Rs 37,538 crore.
Cash Balance and FFO (together at Rs 77,889 crore) are much higher than debt maturity cover for FY24, FY25 and FY26 of Rs 11,796 crore, Rs 32,373 crore and Rs 16,614 crore, respectively, at the combined portfolio level.
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