New Delhi, Sep 17 (IANS) The Supreme Court on Wednesday sought response from the Directorate General of Civil Aviation (DGCA) and the Ministry of Civil Aviation on a plea claiming there was a deliberate omission for years to install Engineered Materials Arrestor System (EMAS) at airports, which prevent aircraft from overshooting runways at vulnerable airports such as Mangaluru and Kozhikode.
A bench headed by Chief Justice S.A. Bobde has issued a notice to the ministry and DGCA on a plea filed by a Delhi resident Rajen Mehta, an 85-year-old retired engineer.
The plea has been filed through advocate Shohit Chaudhry. It seeks installation of EMAS at the airports considered vulnerable.
The plea also cited the accidents of August 7 at Calicut International Airport and May 22, 2010 at Mangalore.
Both these airports have table-top runways. The petitioner contended that if EMAS were to be installed, it could have helped in averting the plane crash.
"The existence of EMAS was brought to the knowledge of the Airport Authority of India (AAI) and the respondents (DGCA and Civil Aviation Ministry) in 2008. However, for no plausible reason, it has not been installed till date," said the plea.
The petitioner argued that the aviation industry has seen two horrific incidents in Mangalore and Calicut causing loss of hundreds of lives, which could have been saved by the timely action of the authorities concerned.
The plea pointed out that EMAS has been installed at 125 airports across the globe. The petitioner also sought an inquiry into delay in installation of EMAS, despite prior knowledge on the airports which are vulnerable, and insisted that criminal action should be taken against those responsible.
"On May 22, 2010, a Boeing 737-800 passenger jet operating Air India Express Flight 812 from Dubai to Mangalore crashed on landing at Mangalore Airport, resulting in the death of 158 persons," said the plea.
The petitioner said the EMAS system is an arrestor bed of crushable material, like concrete blocks, placed at the end of a runway to stop an aircraft from overshooting.
"In 2008, due to the extreme economic crisis, the Calicut (Kozhikode) EMAS project was put in abeyance," the petition said.
"The Court of Inquiry, probing the Mangaluru crash, had specifically recommended that EMAS like systems should be installed on the runway overshoot areas, especially for table-top airports. Yet, no action has been taken," it added.
New Delhi, Sep 28 (IANS) Investment experts have projected a positive turnaround for the ITC stock with 41 out of 43 analysts on Bloomberg giving a "buy" or "Hold" call for the stock.
As per JM Financial, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's.
ITC in FY30 could clock an FMCG EBITDA that is higher than the combined FY20 EBITDA of Nestle India, Britannia, Tata Consumer, JM Financial said.
It said that ITC's FMCG segment is possibly one of the most under-appreciated businesses in the Indian consumer space in recent times.
"We suspect the market may not have taken a holistic look yet; our understanding of Indian consumer categories tells us that ITC FMCG today addresses market opportunities that are Rs 2.1 trillion ($ 28 billion) in size in aggregate. Even if one excludes a couple of nascent Dairy products from the portfolio, the addressable opportunity for ITC is still $ 22 billion - larger than even HUL's 'size of markets' and more than three times that of Nestle India's," it added.
"Profitability is low at present, but we reckon that with investment-phase largely done (though some new categories are still in incubation stages), profits and cash-generation would get much bigger here onwards," the report said.
As per Centrum Broking, "In our deep dive analysis into ITC's foods business we conclude that it is at the cusp of a take-off both in terms of top-line and margins."
"ITC is emerging as a foods company, more comparable to Nestle than HUL. Branded packed food consistently gaining saliency given the management focus (saliency increased from 71 per cent of other FMCG in FY14 to 81 per cent in FY20)," it added.
It is the only company which has successful brands from staples (Aashirvaad) to RTC and RTE (Sunfeast, Bingo, Yippee etc.).
ITC has made consistent investments in brand building over the past decade helping create brands across the branded packed food categories from staples a and dairy to RTC and RTE. Aashirvaad, Sunfeast, Bingo and Yippee now account for Rs 60 billion, 40 billion, 27 billion and 13 billion in consumer spend terms.
As per BNP Paribas, there is a faster than expected recovery in ITC's cigarette business. The catalyst for ITC is a faster than expected recovery in cigarette volumes and higher than expected margin expansion in the FMCG business.
As per B&K Securities, a turnaround in cigarette volumes is expected from September onwards. "We believe the gradual lifting of start/stop lockdowns in most states, opening up of bars/clubs in some states and more attendance in offices due to lesser fears from Covid-19 will lead to the marginal smoker slowly coming back. Given the fact that 30 per cent of the smokers' user base comprises of non-regular smokers who have been impacted by the start/stop lockdowns, we feel the industry figures will start looking up from September 2020," it added.