Odisha government clears 19 industrial projects worth over Rs 3,898 crore
BHUBANESWAR: The state-level single window clearance authority (SLSWCA) headed by chief secretary Manoj Ahuja on Friday approved 19 investment projects worth around Rs 3,898.54 crore which are expected to generate 7,464 employment opportunities.
The SLSWCA cleared proposals spanning a diverse range of high-impact sectors, including steel, iron and ferro alloys, industrial gases, logistics, food and beverage, agro-processing, tourism and hospitality, chemicals, metal downstream, and apparel and textile.
The investments will be made in 11 districts - Angul, Balasore, Cuttack, Dhenkanal, Ganjam, Jajpur, Keonjhar, Khurda, Koraput, Sambalpur and Sundargarh - ensuring balanced regional development and inclusive economic growth.
The steel, iron and ferro alloys sector witnessed a major thrust with four investment proposals worth Rs 1,840 crore getting the nod of the state government. TATA Steel is set to enhance its crude steel capacity from the proposed 6.5 MTPA to 7.1 MTPA, with an additional investment of Rs 700 crore in Dhenkanal district.
In Keonjhar, Sree Metaliks Ltd will invest Rs 885 crore to expand its integrated steel plant. Lal Baba Seamless Tubes Pvt Ltd has planned to establish a Rs 200 crore precision tube manufacturing facility in Cuttack, while Surlon India Ltd will invest Rs 55 crore for a railway component manufacturing unit in Sundargarh district.
In a significant development for the industrial gases segment, Linde India Ltd is set to invest Rs 425 crore for a state-of-the-art air separation unit in Jajpur. The facility will have an annual production capacity of over 12 lakh tonnes of industrial gases.
In logistics, ACME Clean Energy Pvt Ltd will develop a jetty-less floating terminal in Ganjam with an investment of Rs 366.5 crore. Vasanth Vihar Constructions will invest Rs 134.50 crore and establish a logistics park in Khurda. Bhuvaneshwari Foods and Beverages Pvt Ltd will invest Rs 300 crore to set up a beverages unit in Khurda.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
21 minutes ago
- Time of India
Who will inherit Sunjay Kapur's Rs 10,300 crore wealth and take over his business? Here's what Karisma Kapoor's kids get- Details inside
The sudden demise of billionaire Sunjay Kapur has shocked both the business and entertainment worlds. Known for heading one of the world's top auto parts companies, he was in the news for his marriage and highly publicised divorce from Bollywood actress . Following the news of his demise, questions have been raised about his sizeable fortune and his company Sunjay Kapur's Rs 31,000 crore business empire Sunjay was the chairman of auto components maker Sona Comstar. Tired of too many ads? go ad free now After his father's demise in 2015, he took charge and led the company into newer international markets. Thanks to his leadership, Sona Comstar grew into one of the world's top auto component firms. According to Bloomberg, the company currently has a market value of around Rs. 31,000 crore (nearly $4 billion). But after news of Sunjay's passing broke, Business Today reported that the company's shares dropped by 7% as markets opened on Friday. The drop reflected the shock and uncertainty surrounding the company's future. What will happen to his business now? After Sunjay's passing, Sona Comstar released a statement to calm investors and partners. It read, "His vision, values, and dedication to excellence has left a lasting legacy for the company. We assure our customers, business partners, employees, and shareholders that our operations and prospects remain unchanged as we honour his legacy." Sunjay had three children—Samaira (20) and Kiaan (14) from his marriage to Karisma Kapoor, and Azarias (6), his youngest son, with his third wife Priya Sachdev. Since none of them are part of the company, they are not expected to take over leadership at this time. According to Sunjay's sisters may step in to manage the company, while the current board continues to handle regular operations. Who inherits his Rs 10,300 crore estate? At the time of his passing, Forbes reported that Sunjay Kapur had a personal net worth of $1.2 billion (Rs. Tired of too many ads? go ad free now 10,300 crore). His wealth was at its peak in 2022 and 2024, reaching up to $1.6 billion (Rs. 13,000 crore). As per Hindustan Times, the management of his estate will now pass on to his wife, Priya Sachdev. However, reports also confirm that Sunjay had made clear plans to support all his children. For his children with Karisma—Samaira and Kiaan—he had already gifted bonds worth Rs 14 crore. On top of that, both of them will reportedly receive a monthly income of Rs 10 lakh each. Although, it must be noted that the exact details of the inheritance are not officially confirmed. A look back at his family life Sunjay Kapur first married designer Nandita Mahtani. The two took the plunge in 1996 but called it quits four years later in 2000. He then went on to marry Bollywood star Karisma Kapoor in 2003, with whom he shares two children. The couple separated in 2016. In 2017, Sunjay married model and actor Priya Sachdev, and the two had a son, Azarias. Did a Bee Sting Trigger Sunjay Kapur's Fatal Heart Attack?
Economic Times
27 minutes ago
- Economic Times
Mcap of eight of top-10 most valued firms erodes by Rs 1.65 lakh cr; HDFC Bank biggest laggard
The combined market valuation of eight of the top-10 most valued firms eroded by Rs 1,65,501.49 crore last week, with HDFC Bank taking the biggest hit, in-line with a bearish trend in domestic equities. ADVERTISEMENT Last week, the BSE benchmark tanked 1,070.39 points or 1.30 per cent. While Tata Consultancy Services (TCS) and Infosys witnessed net addition in their market valuations, Reliance Industries, HDFC Bank, Bharti Airtel, ICICI Bank, State Bank of India, Life Insurance Corporation of India (LIC), Bajaj Finance and Hindustan Unilever Ltd faced erosion. The valuation of HDFC Bank tanked by Rs 47,075.97 crore to Rs 14,68,777.88 crore. The market capitalisation (mcap) of ICICI Bank tumbled Rs 30,677.44 crore to Rs 10,10,375.63 crore. The valuation of Reliance Industries dropped by Rs 21,516.63 crore to Rs 19,31,963.46 crore and that of State Bank of India eroded by Rs 18,250.85 crore to Rs 7,07,186.89 crore. ADVERTISEMENT The mcap of Hindustan Unilever Ltd dived by Rs 16,388.4 crore to Rs 5,44,893.71 crore. Bharti Airtel's valuation declined by Rs 15,481.22 crore to Rs 10,50,413.33 crore and that of LIC went lower by Rs 13,693.62 crore to Rs 5,93,379.66 crore. ADVERTISEMENT The mcap of Bajaj Finance dipped Rs 2,417.36 crore to Rs 5,80,052.09 crore. However, the market valuation of TCS jumped Rs 22,215.06 crore to Rs 12,47,190.95 crore and the mcap of Infosys climbed Rs 15,578.3 crore to Rs 6,65,318.03 crore. In the top-10 list, Reliance Industries Ltd remained the most valued firm followed by HDFC Bank, TCS, Bharti Airtel, ICICI Bank, State Bank of India, Infosys, LIC, Bajaj Finance and Hindustan Unilever Ltd.
Economic Times
37 minutes ago
- Economic Times
Elitecon International to undergo 10:1 stock split; record date set for June 25
BSE-listed Elitecon International, a smallcap company known for its tobacco-based products, has announced its first-ever stock split to reward shareholders and improve stock liquidity. ADVERTISEMENT In an exchange filing dated June 13, the company's board approved a 10:1 stock split, meaning each share with a face value of Rs 10 will be divided into 10 shares of Re 1 each. Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months The company has fixed June 25, 2025 (Wednesday) as the record date to determine shareholder eligibility for the split."...fixed Wednesday, June 25, 2025 as the Record date for the purpose of determining the entitlement of Equity Shareholders for Subdivision/split existing Equity shares of the Company from 1 Equity share having face value of Rs 10 each fully paid-up, into 10 Equity Shares having face value of Rs 1 each fully paid-up," the company said in its filing. Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upside ADVERTISEMENT A stock split is a corporate action aimed at making shares more affordable for retail investors by reducing the face value, which proportionally lowers the trading price without affecting the overall market capitalization or investor holding. Also Read: KEI Industries, DCB Bank among 10 small-cap stocks analysts expect to gain up to 75% ADVERTISEMENT On the technical front, the stock's Relative Strength Index (RSI) stands at 62.1, indicating neutral to moderately bullish momentum. (RSI above 70 signals overbought conditions, while below 30 indicates oversold.) The MACD is at 49 and remains above both its centerline and signal line, suggesting a bullish stock is trading above key medium- to long-term moving averages (20-day to 150-day SMAs), indicating a positive trend, but remains below the short-term 5-day and 10-day SMAs. ADVERTISEMENT Elitecon International, which currently commands a market capitalisation of Rs 8,358 crore, ended Friday's session (June 13) lower at Rs 522.90 on the NSE. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
