Is there an investment opportunity in PSP Projects shares?
Is this the right time to invest in the shares of PSP Projects, a company that does construction work for the government and corporate India? How much benefit will there be from investing in this stock? What targets are experts giving regarding this stock? Watch this video to know-
The monsoon has unleashed its fury across the coastal regions of western India, comprising parts of Karnataka, Maharashtra and Goa. The incessant downpour in the region took the lives of 60 people. Thousands of people have been displaced too. The India Meteorological Department (IMD) has issued a red alert for the entire region from July 24 to July 26. The connectivity between Goa, Maharashtra and Northern Karnataka via the road has been disrupted due to landslides.
Maharashtra worst affected
Maharashtra has been hit the hardest. So far, 57 people have lost their lives in various rain-related incidents. This tally is inclusive of victims of the landslide in Raigad which alone claimed 36 lives and trapped many people under the debris. Another landslide was reported in Kevanale tehsil, in Raigad, where 11 bodies were recovered during a long rescue operation.
On July 23, the entire western coast received very heavy rainfall, with some places facing rain of up to 600 mm in a span of four to five hours. As per IMD, heavy rainfall is predicted over the next five days. Mahabaleshwar, a hill station and popular tourist spot in Maharashtra received its highest ever rainfall in the history of 600 mm in 24 hours. Various regions in Goa and neighbouring areas of northern Karnataka received up to 300 mm. Goa’s Valpoi received 296 mm, while Karnataka’s Belagavi received 278mm of rain.
Karnataka
As per the Karnataka government, the worst-hit regions in the state are Belagavi, Chikkamagaluru, Uttara Kannada, Shivamogga, Haveri and Dharwad. The heavy rains have also triggered floods in the rivers Krishna, Cauvery, Tungabhadra, Bhima and Kapila.
Official figures suggest that 16,213 people across 131 villages have been affected severely due to floods and 3 have lost their lives. So far, rescue operations have succeeded in evacuating 8,733 people and 4,964 people have been shifted to different relief camps. Karnataka chief minister B S Yediyurappa reviewed the situation and directed all the district heads and MLAs to monitor relief work. He also assured that relief and assistance would be provided to everyone, especially the farmers who suffered losses due to this calamity.
Goa
In Goa, hundreds of people are stranded, communication lines are snapped and transport systems have been disrupted. Chief Minister Pramod Sawant took stock of the situation and has directed officials to provide assistance to people in distress. As per officials, 23 people who were stuck in the floods at Bicholim’s Harvalem were rescued to safety.