Industry Odisha Bureau, Aug 26: Claimed to have undergone a six-month-long bidding process, Mumbai-based Shree Naman Group has reportedly won the bids for owning a JW Marriott hotel in Bengaluru and a Crowne Plaza hotel in Pune reportedly at an estimated amount of about Rs 1,800 crore. Citing inputs availed from reliable sources, media reports have stated that, “The Shree Naman Group has duly submitted the requisite bank guarantees in shape of Rs 160 crore and Rs 20 crore performance guarantees respectively for winning the two bids.” Citing inputs availed from reliable sources, media reports have also stated that, “Creditors…
Author: Industry Odisha
Industry Odisha Bureau, Aug 26: The 30-share BSE Sensex climbed 285 points to settle at 77,944.02 in early trade. The 50-share NSE Nifty rose 23.25 points to reach 24,356.10 on August 26, 2026. Market sentiment improved as crude oil prices fell sharply across global markets today. Brent crude oil traded 2.66 percent lower at $86.22 per barrel on Tuesday. West Texas Intermediate crude has declined more than six percent over two sessions to eighty. Brent crude has retreated from its previous peak near ninety-four dollars per barrel. For domestic Indian markets, softer crude prices provide a meaningful tailwind for sentiment.…
Industry Odisha Bureau, Aug 26: Iran has blacklisted 45 vessels for alleged breaches of its transit protocols. The Persian Gulf Strait Authority placed an India-linked bulk carrier on the list. Maha Roos, a bulk carrier owned and operated by Indian entities, was included. Vessels on Iran’s list face potential fines, detention, or confiscation in future transits. A Pakistan-flagged crude oil tanker specifically named Mardan has also been blacklisted. The majority of the blacklisted vessels are linked to United Arab Emirates-based entities. The Strait of Hormuz remains critical for global energy and maritime trade. The waterway had historically been governed by…
Industry Odisha Bureau, Aug 26: In a bid to reset itself for achieving more sales growth from electric vehicles (EVs), premium bikes as well as augment its global exports, Delhi-headquartered Indian multinational motorcycle and scooter manufacturer Hero MotoCorp Limited has reportedly appointed five senior executives from the non-two-wheeler backgrounds. Citing the company’s sources, media reports have stated that, “While Pawan Munjal had stepped down from the post of Chief Executive Officer (CEO) in 2023 to be the Executive Chairman, Harshavardhan Chitale is the incumbent CEO, Srihari Mulgund is the new Strategy Officer, Sachin Agarwal is the new Technology Officer, Kausalya…
Industry Odisha Bureau, Aug 26: India’s large infrastructure pipeline has accumulated approximately thirty-four thousand crore rupees in cumulative cost overruns. The Ministry of Statistics and Programme Implementation released data for July two thousand twenty-six. Government monitoring covered seventeen hundred seventy-five ongoing projects across seventeen Central Ministries and Departments. The projects’ original estimated cost was thirty-three lakh seventy thousand one hundred thirty-eight crore. Revised project costs reached thirty-seven lakh ten thousand six hundred forty-two crore rupees total. The difference reflects the substantial challenges in estimating and executing infrastructure projects systematically. The scope of India’s infrastructure ambitions becomes clearer when examining progress…
Industry Odisha Bureau, Aug 26: Crude oil prices declined for a third consecutive session as Iran and Oman advanced. Brent crude fell below eighty-seven dollars, marking approximately eight percent weekly decline. West Texas Intermediate traded near eighty-one dollars throughout the trading session. The price retreat reflected reduced concerns about shipping through the Strait of Hormuz. Despite recent pullback, crude remains more than forty percent higher this year. The ongoing US-Iran conflict continues disrupting energy flows from the Persian Gulf region. Iran’s Foreign Minister Abbas Araghchi and Omani Foreign Minister Badr Albusaaidi discussed frameworks. The two countries proposed an interim arrangement…
Industry Odisha Bureau, Aug 26: Washington has now targeted four India-based companies engaged in Iranian petroleum commerce. Treasury Secretary Scott Bessent announced Operation Economic Outcast on August 24, 2026. The campaign aims to block potential revenue sources for Tehran’s government entirely. The action demonstrates how secondary sanctions can reach third-country businesses conducting Iran trade. The sanctions expand financial pressure beyond Iranian entities to their trading partners. Secondary sanctions can restrict access to US financial infrastructure and dollar transactions. They may discourage international banks from financing Iran-related commerce by foreign firms. This creates compliance risks for businesses balancing Iranian trade with…
Bhubaneswar, Aug 25: The Office of the Special Relief Commissioner (SRC) along with the State Emergency Operation Centre (SEOC) are maintaining round-the-clock surveillance over the low-pressure-induced rainfall and flood situation in some parts of the State. As per the situation report available up to 11:00 AM on August 25, 2026, the overall situation across the State remains under control. According to the India Meteorological Department (IMD), the low-pressure area over Gangetic West Bengal and adjoining Jharkhand and north Odisha continues to remain active over the same region. The associated cyclonic circulation extends up to about 7.6 km above mean sea…
New Delhi, Aug 25: In a significant step towards achieving the vision of Aatmanirbharta in defence, Defence Minister Rajnath Singh has approved the transfer of DRDO-developed technologies of all conventional missile systems to the Indian defence industry for production within the country. This Transfer of Technology marks an important milestone in promoting greater participation of the domestic industries in the defence ecosystem by enabling them to undertake indigenous production, as per applicable qualifications, certifications and regulatory requirements. The provision will enable successful transition of missile system development to industrial production, reflecting the continued efforts of DRDO to leverage the capabilities…
Industry Odisha Bureau, Aug 25: The United States launched Operation Economic Outcast on Monday, targeting Iran’s financial networks. Washington warned businesses globally that facilitating Iran trade could trigger severe sanctions. Treasury Secretary Scott Bessent said countries would receive a limited “cure period” before enforcement. The campaign represents a carefully calibrated pressure strategy rather than an immediate economic blockade. The first phase already sanctioned more than sixty individuals, entities and vessels. Five critical sectors face heightened scrutiny: digital assets, technology, gold, aviation and shipping. These targets connect directly to Iran’s oil revenues, nuclear procurement and cyber operations. Washington has explicitly reserved…