CM announces plan for med college in Bhadrak
Bhubaneswar: CM Mohan Charan Majhi on Monday announced plans to set up a university and a medical college and hospital in Bhadrak district. He made the announcement while inaugurating and laying foundation stones for 13 development projects in Bhadrak's Baliapada worth Rs 275 crore.
Tired of too many ads? go ad free now
Among the projects announced — a technical textile complex by IOCL and an HMLS polyester production facility by MCPI Pvt Ltd — are expected to generate substantial employment opportunities for locals.
"Development in Bhadrak has gained momentum under our administration. In just 120 days, we initiated projects worth over Rs 80,000 crore across the state," the CM said.
Majhi also announced plans for the beautification of all martyr sites in Bhadrak, emphasising the district's historical significance.
The development package includes infrastructure improvements such as roads, sports facilities, health centres, a library and a memorial park dedicated to Harekrushna Mahatab, Odisha's first CM.
Higher education minister Suryabanshi Suraj praised Bhadrak's rich heritage and expressed confidence in the district's development trajectory. "The new projects reflect our govt's commitment to fulfilling the aspirations of Bhadrak's people," he said.
Majhi criticised the previous govt for focusing on superficial changes, stating that his govt is committed to bringing about real development.
Looking ahead, the CM outlined his vision for a prosperous Odisha by 2036, with Bhadrak playing a crucial role in the transformation. The govt plans to present a detailed progress report to the public on June 12, highlighting achievements in agriculture and allied industries.
Officials said Monday's announcement marks a significant step forward in Bhadrak's development journey, promising to enhance both educational opportunities and industrial growth.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
15 minutes ago
- Time of India
Swiggy may recover quick commerce share despite widening losses: Morgan Stanley
Brokerage house Morgan Stanley believes online food and grocery delivery company Swiggy 's quick commerce business has a bright future. This is despite the fact that while quick commerce has helped drive Swiggy 's revenue growth, the company's expenditure on the vertical continues to drag its bottom line down. Instamart , Swiggy's quick delivery business, saw its gross order value (GOV) rise 101% year-on-year to Rs 4,670 crore. However, the adjusted Ebitda loss also increased to Rs 840 crore during the same period. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Anvisa aprova solução para ajudar a reduzir gordura visceral da barriga em 7 dias! Você Mais Saudável Hoje Saiba Mais Undo Nevertheless, Morgan Stanley said in a recent note that Swiggy is well-equipped to weather the rising competition in the quick commerce segment with enough balance sheet strength to continue investing in the vertical. Initiating coverage on Swiggy shares, Morgan Stanley analysts Gaurav Rateria, Sulabh Govila and Sakshi Rana stated in the June 2 note that medium-term concerns about competition in quick commerce will persist. Live Events Multiple new players, including major ecommerce companies, are now entering the industry. Even so, Swiggy will be able to protect its relative market share, the analysts noted. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories Morgan Stanley has revised its estimates for quick commerce's total addressable market—representing the entire potential demand—upwards to $57 billion by 2030, from $42 billion earlier. The brokerage expects 150 Indian cities to be conducive to the service, compared to the top 30 cities now. This implies multifold growth in the $8 billion market seen at the end of March 2025. Existing companies with investments in infrastructure will benefit more from the quick commerce upsurge, the Morgan Stanley note read, and Swiggy has invested heavily in the space over the past 12 months. The company met its target of 1,000 dark stores, adding 316 of these micro-warehouses in the March quarter, and is looking to expand the network. "We believe that store additions will be a derivative of growth... we have made a choice of network where we have these megapods, which are two-and-a-half times larger than dark stores and these can do 5,000-6,000 orders per day compared to 2,000-3,000 orders a day (done by smaller dark stores)," Swiggy's chief financial officer Rahul Bothra had told ET after the March quarter results in May. Swiggy's current balance sheet strength and profit in food delivery will allow it to continue quick commerce investments and focus on at least maintaining market share, Morgan Stanley said. Total cumulative investment, in the form of operating losses or cash burn, in its quick commerce vertical is expected to be over $1.2 billion over the next two to three years before the company reaches break-even at the adjusted Ebitda level, the brokerage house said. Swiggy shares rose as much as 9.5% during trade today to Rs 365 apiece. The counter closed 8.73% higher at Rs 362.50 per share, against a 0.32% rise in the Sensex to 80,998.25.
Time of India
15 minutes ago
- Time of India
Commodity Radar: Crude Oil caught between war winds and OPEC's supply surge. 3 things charts suggest
Crude oil prices traded steady on Wednesday as concerns over higher output from OPEC+ groups were partially offset by supply pressures caused due to the Canadian wildfires along with economic uncertainties in the wake of global trade tensions. The June crude oil futures on the MCX were trading at Rs 5,473 per Bbl, gaining Rs 18 or 0.33% over the previous closing price. Domestic prices moved in tandem with the international prices. On the COMEX, the US WTI contracts were trading at $63.71 around 4 PM India time, up by $0.30 or 0.47% while the Brent Oil futures were hovering around $65.93, also gaining by $0.30 or 0.46%. Commenting on the current trends, Naveen Mathur, Director - Commodities & Currencies at Anand Rathi Shares and Stock Brokers said that the rebound in crude oil prices has been due to ongoing geopolitical tensions and expectations of strong summer travel demand. 'While the bias remains positive, OPEC's aggressive supply hikes and bearish market sentiment driven by trade war concerns and surplus fears are likely to limit sharp gains,' he said. Crude oil prices rebounded last month from near $55 per barrel levels and are once again caught in a narrow range of $60–$65, as markets continue to reflect a disconnect between sentiment and reality. 'Trader sentiment has turned extremely bearish due to tariff war fears and OPEC's aggressive unwinding of supply cuts, raising expectations that global oil balances may shift into surplus. On a year-to-date basis, crude oil is down approximately 12%,' Mathur said. In his view, the demand for oil remains strong ahead of the travel season even as global inventories remain tighter than usual. So far, the trade war has not shown any major impact on oil demand, he opined. Recently, OPEC+ announced it would increase oil production by 411,000 barrels per day in July, the third consecutive month of sizable supply hikes. This has led to some disappointment in the Street's mood, though the impact has been largely capped as the prices have traded in a range. Mathur said that there are doubts whether the additional oil will actually reach the global market. The geopolitical risks are also supporting prices and the recent escalation in the Russia-Ukraine war despite the ongoing negotiations in Turkey. The Anand Rathi analyst also attributed the stalling of nuclear talks between US and Iran, to be supporting the oil prices. A deal would sanctions against Iran, bringing Iranian oil into the market. Now that appears unlikely, Mathur said. Outlook 'In the short term, oil prices are likely to remain supported. With steady demand, tight inventories, and heightened geopolitical risks, the bias is tilted upward. However, any significant upside remains capped due to OPEC's continued unwinding of supply cuts,' Mathur said. Tech view: Mathur decodes the tech set-up and here's what he said: 1) Moving averages: MCX Crude Oil maintains a bullish bias, holding firmly above its 21-Day Moving Average at 5,262, which serves as a key support level. 2) Key levels: The price action is confined to a consolidation range of 5,250–5,450, with immediate resistance at 5,460. A breakout above the psychological level of 5,500 could pave the way for an upside rally toward 5,685, signalling strength in the bullish momentum. 3) MACD: Technical indicators support this outlook, with the MACD trading above the zero line, reflecting sustained positive momentum. The price structure indicates a bullish bias, with key support near 5,250 and resistance around 5,460. A breakout above 5,500 could signal stronger upward momentum, potentially opening the path toward higher levels like 5685-5945.
Pink Villa
21 minutes ago
- Pink Villa
Thug Life All India Box Office Prediction: Kamal Haasan and Mani Ratnam film to open below Vikram and Indian 2 but...
Kamal Haasan's much-awaited action-drama Thug Life is all set to hit theaters tomorrow. The film, directed by Mani Ratnam, is expected to rake in around Rs 20 crore on its opening day in India, based on the advance bookings. This figure would make Thug Life Kamal Haasan 's third-biggest opener, trailing behind his 2022 blockbuster Vikram and the 2024 release Indian 2. While Vikram stormed the box office with a massive Rs 33 crore opening, Indian 2 followed with a reasonable Rs 30 crore start. Thug Life's projected Rs 20 crore opening is respectable but reflects a more grounded start compared to its predecessors. The opening day performance of Thug Life is expected to be driven primarily by Tamil Nadu, where Kamal Haasan enjoys a loyal fanbase. The collections outside Tamil Nadu, however, are predicted to be on the lower side given the film's scale and reach. Adding to this, Thug Life will not release in Karnataka, which is a setback for its overall India gross. The absence of Karnataka, a key market for Tamil films, is expected to dent the opening day numbers further. Despite the modest opening prediction, Thug Life has a lot going for it. The film reunites Kamal Haasan with Mani Ratnam, a combination that has delivered the iconic Nayakan in the past. Early reports suggest that Thug Life is a better-crafted movie than Indian 2, which faced criticism and ended its worldwide run grossing a disastrous Rs 150 crore. If the audience response is strong, Thug Life could comfortably outgross Indian 2's lifetime earnings in its first week. Also, another good news is that the makers have already recovered the budget of the movie (excluding Kamal Haasan and Mani Ratnam's remuneration) from non theatrical revenue sources. The details for the same can be found out HERE. The makers got a premium from digital partners because of the combination factor and also because the deal was inked before the release of Indian 2. All eyes are on Thug Life to see if it can replicate the magic of Vikram or rise above the disappointment of Indian 2. Stay tuned to Pinkvilla for more box office updates on Thug Life.
