Dharmendra Pradhan urges Piyush Goyal to set up MITRA park in Odisha

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Bhubaneswar, Oct 26 | Union Education Minister Dharmendra Pradhan has urged Textile Minister Piyush Goyal to set up a greenfield Mega Integrated Textile Region and Apparel (MITRA) park in Odisha.

In a letter to Goyal, Pradhan said: “Odisha has a long and rich history of textiles and the handlooms of Odisha have gained world-wide acclaim for their design and quality. Various designs have existed here, such as Sambalpuri, Bomkei and Berhampuri. Odisha is also famous for its Ikat type of weaving.

“With this rich history and locally available competence in this area, Odisha is uniquely positioned to attract investments in the textiles and apparel sectors.”

Informing about the availability of skilled workforce in the state, Pradhan said that Odisha has emerged as the knowledge and skill hub in the presence of globally recognised institutes of higher learning, research and skill development, including CIPET, IIT, IIM, IIIT, NIT, AIIMS, NISER, Skill Development Institute, Indian Oil – ICT Odisha Campus.

Industrially too, “Odisha has a wide network of 10,000 km of highway, Paradip, Dhamara, Gopalpur ports, proximity to industrial hubs and Jagdishpur-Haldia and Bokaro-Dhamra Pipeline (JHBDPL) gas pipeline passing through the state”, he added.

Odisha also has an Industrial Policy and Apparel Policy in place to ensure smooth clearance of the project and provide adequate incentive to the industries.

Under the Apparel Policy of Odisha, capital grant of 20 per cent of project cost up to Rs 20 crore and interest-free loan up to 10 per cent with maximum limit of Rs 10 crore is available to the industries presently, the Minister said.

Textiles and Apparel Parks are currently under construction, one near to the major port of Dhamra and another near Bhubaneswar at Malipada, both with ready availability of facilities including power, water, and boundary walls.

In addition, a Technical Textiles Park is being developed in Bhadrak, Pradhan further stated.

Recently, the Union Ministry of Textile has announced setting up of seven MITRA parks in India.

The parks will be developed by a special purpose vehicle (owned by state and Centre) in a PPP mode.

Source: IANS

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Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

Share Market Closing Bell: Nifty ends above 15,800, Sensex gains 180 pts

The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.

While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.

Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.

Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.

On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.

Sumeet Bagadia
Executive Director
Choice Broking

Source: Choice India

 

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