Industry Odisha Bureau, Aug 31: Tractors and Farm Equipment Ltd will invest up to ₹1,250 crore in a fifth manufacturing plant. The facility, planned for north India, will add roughly 60,000 tractors of annual capacity. It marks TAFE’s first greenfield plant in twenty-nine years. The move follows a breakout year of growth for India’s second-largest tractor maker. Revenue climbed 25% to nearly ₹16,000 crore across TAFE’s group entities last year. Domestic sales grew 24.8%, with the company selling about 214,000 tractors. Chairperson Mallika Srinivasan credited a good monsoon, a GST cut, and farmer-friendly state policies. Together, these factors drew many…
Author: Industry Odisha
Industry Odisha Bureau, Aug 30: The CHSE syllabus committee on Saturday approved rule for ex-regular candidates willing to appear for Annual Higher Secondary Examination 2027. According to the notification of the autonomous body, the ex-regular candidates will have to clear an internal assessment exam of CHSE. This internal exam will be of 20 marks. The marks will be valid for three years. The ex-regular candidates do not have to reappear for the internal assessment while appearing for Plus II exam during these 3 years. The new rule will be applicable from 2027. However, if the candidates are not able to…
Bhubaneswar, Aug 30: The Odisha Government has moved to strengthen enforcement of court-ordered maintenance payments on Sunday. The initiative targets state employees who have defaulted on judicially mandated alimony obligations. The move aims to protect wives and children left without promised financial support. This step responds directly to grievances raised by long-suffering families across the state. Chief Minister Shri Mohan Charan Majhi noticed this pattern during public grievance hearings. Abandoned families repeatedly raised concerns about unpaid court-ordered maintenance during these sessions. The Chief Minister called such non-compliance unacceptable for employees serving the public. Many of these families had waited months…
Industry Odisha, Aug 30: Temasek has backed Singapore Airlines’ investment in Air India from a long-term perspective. The backing comes despite Air India’s steep losses and a complex transformation underway. Singapore Airlines holds 25.1% of Air India, with Tata Sons owning the rest. The support reflects confidence in India’s aviation market despite near-term financial pressure. Tata Sons controls 74.9% of the carrier, acquired from New Delhi in January 2022. Temasek’s exposure comes indirectly, through its position as a major SIA shareholder. Temasek said it views SIA’s decision from a long-term strategic perspective throughout. Singapore Airlines has explained its interest in…
Industry Odisha Bureau, Aug 30: India’s finance ministry will formally start Budget 2027-28 preparations on 12 October. Pre-Budget meetings will begin that same day, chaired by Finance Secretary V. Vualnam. Ministries must review spending commitments alongside revenue needs for the coming year. The exercise unfolds against a continuing backdrop of broader fiscal consolidation pressures. A Budget Circular 2027-28, issued on 27 August, sets out the guiding rules. It lays down guidelines for Revised Estimates 2026-27 and Budget Estimates 2027-28. Ministries have been told to first fund committed and continuing expenditure obligations. Only after that should departments make provisions for new…
Industry Odisha Bureau, Aug 30: Russia, historically a major crude exporter, is now importing gasoline in volume. Ukrainian drone strikes on domestic refineries have curtailed fuel-making capacity sharply. Indian refiners have stepped in as a significant new supply source. Seaborne gasoline shipments into Russia climbed to roughly 125,000 barrels daily in August. That translates to nearly 470,000 tonnes for the month, according to Vortexa. Analysts at the energy-tracking firm linked the surge directly to refinery outages. Indian exporters shipped close to one million barrels of gasoline recently. Trade sources traced most of that volume to Gujarat’s Vadinar refinery facility. Nayara…
Industry Odisha Bureau, Aug 30: Several Indian listed companies announced developments that could shape Monday’s trading session. Investors are likely tracking corporate updates disclosed after Friday’s market hours closed. These span hospitality, pharmaceuticals, automobiles, entertainment, engineering, agriculture and electric-vehicle sectors broadly. Announcements included fresh orders, regulatory inspections, government incentives, acquisitions and stake transfers. The Nifty 50 closed Friday’s session 0.35% higher at 24,175 points overall. The Sensex gained 0.43% that day, finishing the session at 77,261 points. Technology stocks led the recovery, buoyed by upbeat Nvidia and Salesforce outlooks. Both benchmark indices nonetheless extended their weekly losing streak to three…
Industry Odisha Bureau, Aug 30: India’s MSME ministry plans to sharply expand raw-material procurement assistance for small businesses. NSIC’s assisted procurement volume will rise from 300,000 to 900,000 tonnes annually. The threefold increase targets fiscal year 2030, according to two government officials. Smaller businesses currently face mounting procurement pressures and volatile material input costs. The expanded scheme aims to strengthen MSMEs’ access to affordable raw materials. The National Small Industries Corporation runs these raw-material assistance and distribution schemes. NSIC aggregates MSME demand and procures materials in bulk at lower rates. The schemes cover commodities ranging from metals and coal to…
Industry Odisha Bureau, Aug 30: IndusInd Bank has repaired much of its balance sheet under new leadership. Profitability and loan growth have both improved since Rajiv Anand took charge. The bank now targets a 1% return on assets by fiscal 2027’s year end. But the harder challenge is generating sustainable returns and restoring lasting confidence. Annualized RoA stood at 0.78% at June-end, according to recent company data. Adjusted for one-time tax-refund interest, that underlying figure falls to roughly 0.63 percent. Reaching 1% RoA marks a stabilization milestone, though not the final objective. The bank ultimately needs RoE exceeding its roughly…
Industry Odisha Bureau, Aug 30: The global pharmaceutical industry is entering its biggest patent-expiration wave in decades. More than $500 billion in projected drug sales face patent expiration risk. That exposure extends through 2033, according to research firm Norstella’s recent projections. Blockbuster medicines sit at the center of this mounting industry-wide financial risk. Drug makers are increasingly responding through acquisitions, partnerships and broader growth investments now. Merck’s cancer immunotherapy Keytruda was 2025’s bestselling drug worldwide, according to reports. Its U.S. patent protection is expected to expire during 2028, reports show. Keytruda generated nearly $32 billion in sales throughout 2025, treating…