Chandigarh, May 23, 2025: Hon’ble Chief Minister of Odisha Shri Mohan Charan Majhi today inaugurated the expanded Tata Steel Kalinganagar (TSK) plant, taking the crude steel capacity from 3 to 8 million tonnes per annum (MTPA).

The inauguration event was held at the Kalinganagar plant in Jajpur district, in the presence of senior state leaders, members of the local community, Tata Steel’s CEO & MD T. V. Narendran, and other members of the senior leadership. Shri Pradeep Bal Samanta, Minister for Co-operation, Handlooms, Textiles & Handicrafts, Government of Odisha, Shri Sampad Chandra Swain, Minister for Industries, Skill Development & Technical Education, Government of Odisha, and Dr Rabindra Narayan Behera, Member of Parliament, Jajpur graced the occasion.

The expanded state-of-the-art facility marks a significant milestone in the Company’s journey to build a future-ready steel manufacturing ecosystem anchored in sustainability, technology, and inclusive growth.

T. V. Narendran, CEO and Managing Director, Tata Steel, said: “Kalinganagar is more than a manufacturing site for us. It symbolises what is possible when communities, government, and industry work together. This expansion reflects our deep belief in Odisha’s potential and our long-term commitment to this State. We are thankful to the Hon’ble Chief Minister, the people of Odisha, and the Government of India, for their continued support. Together, we are building not just steel, but a stronger, self-reliant India.”

Tata Steel Kalinganagar, as one of India’s most modern and advanced integrated steel plants, also supports the Government’s Atmanirbhar Bharat vision, as it can produce world-class steel for critical sectors such as defence, automotive, infrastructure, engineering, capital goods, oil & gas, renewable energy, and shipbuilding.

The new blast furnace at Kalinganagar, the largest in the country with a volume of 5,870 m3, is equipped with state-of-the-art features for long campaign life and an eco-friendly design to optimise the steelmaking process. This blast furnace utilises four top combustion stoves, a first in India, along with two preheating stoves for optimum specific fuel consumption in hot metal production. Other key facilities in Phase II expansion at Kalinganagar include a Pellet Plant, Coke Plant, and Cold Rolling Mill, each incorporating advanced technologies and sustainable practices.

23rd May 2025: Geojit Financial Services Ltd approved its audited financial results for the quarter and the Financial Year ended 31 March 2025, following the meeting of its Board of Directors in Kochi on 21 May 2025. 

Consolidated Financial Highlights for the Financial Year 2024-2025:

                                                                         (Figures in Rupees crore)

Performance highlights for the year under review:

Consolidated Revenue increased YoY by 20% from Rs.623.97 crore to Rs.749.32 crore

EBITDA increased YoY by 19% from Rs.244 crore to Rs.291.38 crore

Profit Before Tax (PBT) increased YoY by 15% from Rs.198.14 crore to Rs.228.23 crore

Profit After Tax (PAT) increased YoY by 15% from Rs.149.38 crore to Rs.172.49 crore

Consolidated Financial Highlights for the Quarter ended 31 March 2025:       

                                                                                       (Figures in Rupees crore)

Performance highlights for the quarter under review:

·           Consolidated Revenue is Rs.177.48 crore, decreased YoY by 15%.

·           EBITDA is Rs. 54.09 crore, decreased YoY by 35%

·           Profit Before Tax (PBT) is Rs. 41.22 crore, decreased YoY by 40%.

·           Profit After Tax (PAT) is Rs. 32.21 crore, decreased YoY by 38%.

As on 31 March 2025, the company’s Customer Assets stood at Rs. 1,00,065 crore.

The Board has recommended a final dividend of Rs. 1.50/- (150%) per equity share of Rs 1/- each for the financial year 2024-25.

Geojit Private Wealth (DIFC) Ltd has received in-principle approval from the Dubai Financial Services Authority (DFSA) to establish a new entity within the Dubai International Financial Centre (DIFC), aimed at serving the growing wealth management needs of HNIs and UHNIs across the UAE and the wider Middle East region.

By – Vaishali Parekh, Vice President – Technical Research at PL Capital Group,

According to Parekh, the Nifty index, after opening with a gap-down, managed to recover during the latter half of the trading session, closing near the 24,600 mark. “Despite intraday weakness, the index has managed to stay above the critical 24,500 level, keeping the overall tone marginally positive,” she noted. A sustained move above this level is essential, while a decisive breach above 25,000 would be required to confirm a renewed upward trend. On the downside, major support lies at the 200-period moving average near 24,000.

The Sensex, meanwhile, showed similar volatility but closed above its 20-day moving average at 80,890. Parekh warned that the index remains vulnerable. “A fall below 80,500 could lead to further downside pressure. For a sustainable recovery, Sensex must break above the 82,500 zone with conviction,” she said.

Commenting on the Bank Nifty, Parekh observed that the index remains stuck in a narrow range around the 55,000 level, with key resistance at 55,700 and support at 54,400. “A breakout from this consolidation is necessary to establish a directional bias. Until then, a cautiously positive stance is advisable,” she explained.

She also pointed out that the Bankex index is hovering below its 20-DMA of 62,480, with immediate support seen at 61,800. A move above 63,200 is essential for further upside momentum.

In conclusion, Parekh emphasized the importance of watching these critical levels closely. “The markets are at a tipping point, and any decisive move beyond the current ranges will set the tone for the next phase,” she added.

Chandigarh, India, 22 May 2025: The commercial credit portfolio for India’s Micro, Small and Medium Enterprises (MSME) sector grew at 13% year-over-year (YoY) as the overall credit exposure increased to Rs 35.2 lakh crore as of March 31, 2025. This trend was largely driven by an increase in credit supply to existing borrowers, according to TransUnion CIBIL and SIDBI’s MSME Pulse Report for May 2025. The MSME sector includes borrowers with credit exposures up to Rs 50 crore.

Growth in the overall credit portfolio was accompanied by an improvement in balance-level serious delinquencies (measured as 90 to 720 days past due (DPD) and reported as ‘sub-standard’), which fell to 1.8%, a five-year low.

Credit Performance Remains Strong, With Reduction in Balance-level Delinquencies

Overall MSME balance-level delinquencies improved to 1.8%, a 35 basis points drop from 2.1% in March 2024. This improvement was primarily driven by the borrower segment with exposure of Rs 50 lakh to Rs 50 crore. The borrower segment with exposure up to Rs 10 lakh, however, witnessed a slight deterioration at 5.8% in March 2025 compared to 5.1% in March 2024. Similarly, the borrower segment with exposure from Rs 10 lakh to Rs 50 lakh also saw a marginal rise in the delinquency level to 2.9% as compared to 2.8% in March 2024.

MSME Credit Growth Momentum Remains Robust

The demand for commercial credit, which is measured by the number of enquiries, grew 11% YoY in the quarter ending March 2025. Commercial credit supply (by value) grew 3% YoY in FY 2024-25. However, in the last quarter (Jan-Mar 2025) there was a decline of 11% YoY possibly due to higher credit concerns among lenders arising from increased external headwinds. Despite this slowdown in origination, credit extended through new cash credit facilities remained resilient with 7% YoY growth for the same quarter. While the share of New-to-Credit (NTC) MSME borrowers to total new loan originations continued to be strong at 47% as of March 2025, it was lower than the share of 51% one year prior.

In the quarter ending March 2025, public sector banks offered 60% of NTC originations. The trade sector contributed the greatest proportion of NTC borrowers at 53%, while the manufacturing sector saw the highest YoY growth (70%) in the number of NTC borrowers originating a commercial loan.

The manufacturing sector had a greater share of the origination value, at 34%, despite contributing to only 23% of all new loans disbursed in the quarter ending March 2025. However, the share of originations by value to the manufacturing sector has declined steadily over the last two years and shifted in favor of professionals and other services and other sectors, which now contribute to 36% of all new loans disbursed by value, up by five percentage points in the last four years.

Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh and Delhi continued to dominate commercial lending, together accounting for 48% of the value of overall originations in the quarter ending March 2025. While the manufacturing sector had the greatest share of originations in Maharashtra, Gujarat, Tamil Nadu and Delhi, Uttar Pradesh had the most originations to the trade sector.

Mr. Manoj Mittal, Chairman and Managing Director, Small Industries Development Bank of India (SIDBI) said: “The MSME sector plays a crucial role in generating employment opportunities and contributes to export growth. Though the credit flow to the sector has improved over the years, the sector still has an addressable credit gap. Providing support to MSMEs can help the sector’s growth and aid the overall economic growth of our country. By fostering innovation, enhancing skill development programs and improving access to financial resources, we can empower MSMEs to become more competitive on a global scale. This in turn will bolster the sector and drive sustainable economic development and inclusive growth across the nation.”

Mr. Bhavesh Jain, MD and CEO, TransUnion CIBIL said: “For MSMEs to achieve sustainable growth, it is imperative that they receive assistance in accessing formal credit and guidance in debt management. Additionally, fluctuations in the business cycle affect these enterprises disproportionately, as they often lack the financial reserves or support necessary to navigate adverse conditions. Therefore, it is crucial to extend support to this sector and equip them with tools for effective financial management.”