Subhadra Yojana: Women Empowerment Key To Odisha's Development, Says PM Modi

At 9.39 a.m., Sensex was up 687 points or 0.83 per cent at 83,635 and Nifty was up 197 points or 0.78 per cent at 25,575.

Banking stocks led the markets. Nifty Bank was up 468 points or 0.89 per cent at 53,246.

In early trade, Sensex and Nifty made a new all-time high of 83,684 and 25,587 respectively.

Almost all Sensex shares were in the green. NTPC, Wipro, Axis Bank, Tech Mahindra, Infosys, Bajaj Finance, TCS, Kotak Mahindra Bank, Tata Motors, HDFC Bank, TCS and Sun Pharma were top gainers.

Buying was seen in the smallcap and midcap stocks. The Nifty Midcap 100 index was at 60,144, up 391 points or 0.65 per cent, and the Nifty Smallcap was at 19,498, up 108 points or 0.56 per cent.

According to market experts, "The big Fed rate cut by 50 bp has the potential to take equity markets into a consolidation phase with an upward bias. The Fed chief Powell’s remark that we have gained greater confidence that inflation is moving sustainably towards 2 per cent is a very optimistic commentary of the US economy."

"The rate cuts by the Fed will pave the way for rate cuts in India, too. CPI inflation coming below the RBI’s target of 4 per cent during the last two months will facilitate rate cuts. Two rate cuts of 25bp each are possible in India before March 2025. In brief, the market scenario is turning favourable for rate-sensitives, particularly banking," they added.

Most of the Asian markets are trading at a brisk pace. Tokyo, Shanghai, Hong Kong and Jakarta are in green. The US markets closed with a marginal fall on Wednesday.

The foreign institutional investors (FIIs) bought equities worth Rs 1,153 crore on September 18, while domestic institutional investors also bought equities worth Rs 152 crore on the same day.

--IANS

Read Business News
 

The Rohit Sharma-led led-side and Bangladesh will play a two-match series.

The second match of the series will be played in Lucknow.

"I'd like to bowl first. There's moisture on the wicket and we want to make use of it. The pitch looks hard and there's moisture. The first session will be very good for the seamers. The way we played that series (against Pakistan), we are confident. This is a new series, we'll have to follow our processes. It's a good mixture of experience and youth. We will go with three seamers and two spin allrounders," Shanto said after winning the toss.

Team India skipper Rohit Sharma said that if he had won the toss, he would have bowled as well.

Bangladesh (Playing XI): Shadman Islam, Zakir Hasan, Najmul Hossain Shanto (c), Mominul Haque, Mushfiqur Rahim, Shakib Al Hasan, Litton Das (wk), Mehidy Hasan Miraz, Taskin Ahmed, Hasan Mahmud, Nahid Rana.

India (Playing XI): Rohit Sharma (c), Yashasvi Jaiswal, Shubman Gill, Virat Kohli, KL Rahul, Rishabh Pant (wk), Ravindra Jadeja, Ravichandran Ashwin, Jasprit Bumrah, Akash Deep, Mohammed Siraj.

(ANI)

Read Sports News

CM Majhi had set a target of attracting industrial investments to the tune of Rs 2.5 lakh crores in the coming 5 years. However, in the first 100 days of the new government, 90% of the annual target has been achieved, i.e. investment of Rs. 44,682.92 Cr have already been approved generating employment opportunities for 36,462 persons, including today's proposals and the ones approved in the State Level Single Window Authority meeting held in the month of July, the release said.

The approved projects span a wide range of industries including ESDM, Steel, Metal Downstream, Chemical, Cement, Green Ammonia, and Rubber/Plastics. These projects, strategically located in 8 districts such as Khurdha, Dhenkanal, Jagatsinghpur, Cuttack, Sambalpur, Ganjam, Balasore, and Keonjhar, are poised to enhance Odisha's manufacturing capabilities and significantly contribute to the state's economic development.

CM Majhi said, "This is our first HLCA meeting under the new government, and I am honoured to lead this significant event. Our government is committed to fostering an environment that supports industrial growth and economic development in Odisha. Our goal is to position Odisha as a premier investment destination in India. Over the next five years, we aim to attract industries in diverse sector, making Odisha the industrial hub of India. We are implementing various measures to make Odisha one of the most business-friendly states. We prioritize industrialization and job creation, and today's agenda reflects our commitment to becoming an industrial hub with a substantial total investment of over Rs39,000 Crores across diverse sectors, generating over 17,000 job opportunities."

In a major development, three proposals from the ESDM sector have been approved, underscoring the state government's focus on new-age industries. Silectric Semiconductor Manufacturing Pvt. Ltd. received approval for a Silicon Carbide Device manufacturing unit, while Heterogeneous Integration Packaging Solutions Private Limited will establish a manufacturing plant for glass substrates in the form of wafers for semiconductor packaging. Additionally, Kaynes Circuits India Pvt. Ltd. received approval for a manufacturing unit for the production of Printed Circuit Boards (PCBs). All these projects are located in Khurdha, with a combined investment of Rs 6355.50 crore and the potential to employ 2320 individuals, the release added.

In the chemical sector, Laxmi Organic Industries Ltd will set up a synthetic organic chemical manufacturing unit in Jagatsinghpur, while Epigral Limited will establish a chemical manufacturing unit in the same district. Together, these projects represent an investment of Rs 5,355.00 crore and will provide employment to 1,900 individuals.

In the metal downstream sector, Electrosteel Castings Limited will establish a 500,000 MT ductile iron pipe manufacturing plant in Dhenkanal, while Jindal (India) Limited will set up a steel pipe processing facility in Dhenkanal to produce ERW pipes.

Additionally, Bhushan Power and Steel Limited will create a metal downstream complex in Sambalpur. These three approved projects represent a combined investment of Rs 12,191.00 crore and are expected to generate 5,570 jobs.

The Steel sector will see investment from Shyam Steel Manufacturing Limited's 0.5 MTPA integrated steel plant in Keonjhar, with an investment of Rs 2,510.00 crore and is expected to create 3,640 jobs.

The cement sector will benefit from Ambuja Concrete North Pvt. Ltd.'s (ACNPL)'s cement grinding Unit in Cuttack, with an investment of Rs 1,400.00 crore, projected to employ 410 people.

The Green Ammonia sector includes Torrent Green Hydrogen Private Limited's Green Ammonia project in Ganjam, with a significant investment of Rs 10,260.00 crore, expected to generate 1,558 jobs.

Finally, in the Rubber/Plastics sector, Dalmia Bharat Refractories Limited will set up a manufacturing unit for tyres, tubes, and flaps in Balasore, with an investment of Rs 1,200.00 crore and potential employment for 1,700 individuals, the release added.

The Government of Odisha continues to support and invite business leaders to invest in the state. With these projects moving forward, Odisha's economy is expected to grow significantly, making it a top choice for investments and industrial growth in Eastern India.

(ANI)

Read Odisha News