Sensex Closes At All-Time High, Nifty Above 26,000 For First Time

by Shambhu Datta Mishra

NEWS HIGHLIGHTS

At closing, Sensex was up 255 points, or 0.30 per cent, at 85,169 and Nifty was up 63 points, or 0.25 per cent, at 26,004

Intraday, Sensex and Nifty made a fresh all-time high of 85,247 and 26,032 respectively

The Nifty Midcap 100 index closed at 60,465, down 385 points or 0.63 per cent, and the Nifty Smallcap 100 index closed at 19,357, down 82 points or 0.42 per cent

Mumbai, Sept 25: India equity indices closed at a record high Wednesday following positive cues from global markets.

At closing, Sensex was up 255 points, or 0.30 per cent, at 85,169 and Nifty was up 63 points, or 0.25 per cent, at 26,004.

It is the first time that the Nifty closed above the 26,000 mark. Intraday, Sensex and Nifty made a fresh all-time high of 85,247 and 26,032 respectively.

Selling was seen in the midcap and smallcap stocks. The Nifty Midcap 100 index closed at 60,465, down 385 points or 0.63 per cent, and the Nifty Smallcap 100 index closed at 19,357, down 82 points or 0.42 per cent.

Among the major sectoral indices, fin service, pharma, metal, realty, media, energy, private bank, infra, PSE and services were major gainers. Auto, IT, PSU Bank and FMCG were major laggards.

In the Sensex pack, Power Grid, Axis Bank, NTPC, Bajaj Finserv, Bajaj Finance, Tata Steel, HDFC Bank, M&M, ITC, ICICI Bank, and HCL Tech were the top gainers. Tech Mahindra, Tata Motors, Titan, Kotak Mahindra Bank, SBI, JSW Steel, and Wipro were the top losers.

Rupak De, Senior Technical Analyst, LKP Securities, said: "The Nifty made another lifetime high as bulls seemed in no mood to back down, despite a weak start. The sentiment is likely to remain positive as long as it remains above 25,900, where aggressive put writing was visible. Technically, the Nifty has sustained above its very short-term moving average."

"Furthermore, no reversal is visible in the momentum indicator. Therefore, we might witness a range-bound to positive move in the near term. Resistance on the higher end is seen at 26200-26250," he added.

The foreign institutional investors (FIIs) sold equities worth Rs 2784 crore September 24, while domestic institutional investors extended their buying as they bought equities worth Rs 3868 crore on the same day.

(IANS)

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10 Years Of Make In India: Looking Back At Decade Of Transformational Growth

by Hemanta Pande

New Delhi, Sep 25: The ‘Make in India’, one of the flagship initiatives of the Modi government completed ten years on Wednesday. This not only illustrates a decade of India’s transformational growth but also a defining moment for the nation as it positions itself as a global manufacturing hub.

The flagship scheme launched on 25th September 2014, during the first tenure of the Modi government, ushered in big-ticket reforms and played a pivotal role in boosting domestic manufacturing, enhancing skill development and facilitating foreign investment.

A snapshot of achievements

119 per cent rise in FDI in 10 years

In the last ten years (2014-24), India has witnessed a cumulative Foreign Direct Investment (FDI) of USD 667.4 billion, registering an increase of 119 per cent in the past ten years.

This investment inflow spans 57 sectors with most of them being opened for 100 per cent FDI under the automatic route. FDI equity inflows into the manufacturing sector reached USD 165.1 billion, marking a 69 per cent increase compared to the past decade, which stood at USD 97.7 billion.

Over 1 crore investment under PLI scheme

Production Linked Incentive (PLI) Scheme, touted as the game-changer program has led to ₹1.32 lakh crore (USD 16 billion) in investments and a significant boost in manufacturing output. More than 8.5 lakh jobs have been created directly and indirectly due to the initiative.

Surge in exports

India’s exports have surged in the past decade, with an additional ₹4 lakh crore generated due to the PLI schemes.

Rise in Ease of Doing Business Index

India saw a significant jump in its Ease of Doing Business Index, registering a sharp rise from 142nd rank in 2014 to 63rd rank in 2019 in the World Bank’s Doing Business Report. Over the years, 42,000 compliances were reduced while 3,700 provisions were decriminalised.

Key reforms

As the Make in India initiative rolled out, it also saw the onset of many reforms including below

National Single Window System (NSWS), launched in September 2021 simplified investor experience and integrated clearances from multiple ministries and departments thereby facilitating rapid approvals.

PM Gati Shakti National Master Plan (NMP), launched in October 2021 was a transformative move to facilitate data-based decisions related to integrated planning of multimodal infrastructure, thereby reducing logistics costs.

The development of 11 industrial corridors under the National Industrial Corridor Development Programme seeks to enhance India’s competitiveness by providing world-class infrastructure.

The One-District-One-Product (ODOP) initiative has fostered local economic development, with Unity Malls being set up in 27 states to provide platforms for these unique products.

Under the Startup India initiative, the number of recognised startups has gone up to 1,40,803 as of 30th June 2024, which has created over 15.5 lakh direct jobs. (IANS)

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PM Modi To Lay Foundation Stone Of Various Projects In Maharashtra Tomorrow

by Hemanta Pande

Mumbai, Sep 25: Prime Minister Narendra Modi will visit Pune, Maharashtra on Thursday to lay the foundation stone worth over Rs 22,600 crore.

He will inaugurate the Pune Metro section of District Court to Swargate which will mark the completion of the Pune Metro Rail Project (Phase-1). The cost of the underground section between the District Court to Swargate is around Rs 1,810 crore.

Further, the Prime Minister will also lay the foundation stone for the Swargate-Katraj Extension of Pune Metro Phase-1 to be developed at the cost of around Rs 2,950 crore. This southern extension of around 5.46 km is completely underground with three stations namely Market Yard, Padmavati and Katraj.

PM Modi will lay the foundation stone for the Memorial of the Krantijyoti Savitribai Phule’s First Girls’ School at Bhidewada. He will also address the rally at the SP College ground in Pune.

In line with his commitment to make India self-reliant in the field of Supercomputing technology, the Prime Minister will dedicate to the nation three PARAM Rudra Supercomputers worth around Rs 130 crore, developed indigenously under the National Supercomputing Mission (NSM).

These supercomputers have been deployed in Pune, Delhi and Kolkata to facilitate pioneering scientific research.

Giant Metre Radio Telescope (GMRT) in Pune will leverage the supercomputer to explore Fast Radio Bursts (FRBs) and other astronomical phenomena. Inter-University Accelerator Centre (IUAC) in Delhi will enhance research in fields like material science and atomic physics. SN Bose Centre in Kolkata will drive advanced research in areas such as physics, cosmology, and earth sciences.

The Prime Minister will also inaugurate a High-Performance Computing (HPC) system tailored for weather and climate research. This project represents an investment of Rs 850 crore, marking a significant leap in India's computational capabilities for meteorological applications.

Located at two key sites, the Indian Institute of Tropical Meteorology (IITM) in Pune and the National Center for Medium-Range Weather Forecast (NCMRWF) in Noida, this HPC system has extraordinary computing power.

The new HPC systems are named 'Arka' and 'Arunika,' reflecting their connection to the Sun. These high-resolution models will significantly enhance the accuracy and lead time of predictions related to tropical cyclones, heavy precipitation, thunderstorms, hailstorms, heat waves, droughts, and other critical weather phenomena.

The Prime Minister will launch and dedicate to the nation various initiatives in the petroleum and natural gas sector worth Rs 10,400 crore. These initiatives will focus on energy, infrastructure, safety and convenience of truck and cab drivers, cleaner mobility and a sustainable future.

To enable ease of driving, the Prime Minister will launch the Way Side Amenities for truck drivers at Chhatrapati Sambhajinagar, Maharashtra; Fatehgarh Sahib, Punjab; Songadh, Gujarat; Belagavi and Bangalore Rural, Karnataka.

With the objective of developing modern facilities for a comfortable journey break in one place designed to cater to the needs of truckers and cab drivers during their long journeys, wayside amenities such as affordable boarding and lodging facilities, clean toilets, safe parking space, cooking area, WiFi, Gym, etc. are being developed at a cost of around Rs 2,170 crore at 1,000 retail outlets.

To develop multiple energy choices like petrol, diesel, CNG, EV, CBG, and Ethanol blended petrol (EBP), at one retail outlet, the Prime Minister will launch Energy Stations. Nearly 4,000 energy stations would be developed over Golden Quadrilateral, East-West and North-South Corridors and other major highways over the next five years at a cost of around Rs 6000 crore.

Energy stations will help provide seamless mobility through the provision of alternate fuels under one roof to energy-seeking customers.

To facilitate a smooth transition to Green Energy, De-carbonisation and Net Zero Emission and to reduce the range anxiety of Electric Vehicle drivers, the Prime Minister will dedicate to the nation 500 EV charging facilities. Further, 10,000 EV Charging stations (EVCS) are being targeted to be developed by FY 2025 at an estimated cost of Rs 1,500 crore.

The Prime Minister will dedicate to the nation 20 Liquefied Natural Gas (LNG) stations across the country including 3 in Maharashtra. To promote the adoption of clean fuel such as LNG for long-distance transportation, 50 LNG Fuel Stations will be developed in various states of the country by Oil and Gas companies at a cost of around Rs 500 crore.

The Prime Minister will also dedicate to the nation 1500 E20 (20 per cent ethanol blended) petrol retail outlets worth around Rs 225 crore.

The Prime Minister will inaugurate the Solapur Airport which would significantly improve connectivity, making Solapur more accessible to tourists, business travellers and investors. The existing terminal Building of Solapur has been revamped to serve around 4.1 lakh passengers annually.

The Prime Minister will dedicate to the nation Bidkin Industrial Area, a transformative project covering an expansive 7,855 acres under the National Industrial Corridor Development Program, situated 20 km south of Chhatrapati Sambhajinagar in Maharashtra.

The project developed under Delhi Mumbai Industrial Corridor holds immense potential as a vibrant economic hub in the Marathwada region.

The union government has approved this project with an overall project cost of over Rs 6,400 crore for development in 3 phases. (IANS)

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JP Nadda Virtually Inaugurates Tobacco Cessation Centre At AIIMS Bhubaneswar

by Hemanta Pande

Bhubaneswar, Sep 25: Union Minister of Health and Family Welfare, J.P. Nadda, along with Minister of State for Health and Family Welfare, Prataprao Jadhav, virtually inaugurated the Tobacco Cessation Centre (TCC) at AIIMS Bhubaneswar yesterday, officials said on Wednesday.

This event marks a pivotal step in India's efforts towards achieving a tobacco-free society, aligned with the launch of the Tobacco Free Youth Campaign 2.0. The 60-day campaign aims to raise awareness and drive meaningful changes toward tobacco cessation among the youth of the nation.

Speaking at the event, Minister Nadda highlighted that this initiative underscores the Government of India's commitment to public health under the leadership of Prime Minister Shri Narendra Modi.

Dr. Ashutosh Biswas, Executive Director of AIIMS Bhubaneswar, lauded the Department of Psychiatry for spearheading this important initiative. He emphasized the need for expanding such services in collaboration with other departments in the future to ensure holistic management of patients. He also called for patient awareness campaigns to strengthen the effectiveness of the TCC services.

Dr. Biswa Ranjan Mishra, Head of the Department of Psychiatry, reiterated the importance of multidisciplinary collaboration for effective tobacco cessation. He stressed that the centre would provide a comprehensive approach, integrating pharmacological and psychosocial support to aid patients in overcoming tobacco dependence.

The fully functional TCC will be managed by trained psychiatrists and offer specialized treatments for both smoked and chewable forms of tobacco through medications and counselling. Given the widespread use of tobacco in India and its association with numerous medical conditions, the TCC at AIIMS Bhubaneswar is envisioned as a one-stop centre providing multidisciplinary care and support for individuals looking to quit tobacco.

The inauguration was graced by the presence of key dignitaries, including Dr. PR Mohapatra, Dean of AIIMS Bhubaneswar; Dr. Dillip Kumar Parida, Medical Superintendent; Lt. Col. Abhijit Sarkar, Deputy Director of Administration; and heads of departments from Pulmonary Medicine, CMFM, Trauma and Emergency, Dentistry, Medicine, Medical Oncology, and faculty members from the Department of Psychiatry.

Tobacco use, both in smoked and chewable forms, continues to be a leading cause of preventable illness and death worldwide. The launch of the Tobacco Cessation Centre at AIIMS Bhubaneswar provides individuals struggling with tobacco dependence access to expert care and guidance. Through a combination of medications, counselling, and psychosocial interventions, the TCC aims to support users in overcoming their addiction, thus paving the way for a healthier, tobacco-free future.

Sensex Closes At All-Time High, Nifty Above 26,000 For First Time

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