bhubaneswar l saturday l october 24, 2026 l `9.00 l PAGES 12 l jeypore EDITION record play: BEst-ever show for India at Para Asian Games As the continental event comes to a close on Saturday, the country registers historic haul to occupy fourth place as of Friday. A look... Double medallist shooter Mona Agarwal (C) will be one of flag-bearers | pci More reward with lesser strength Highest single-day haul on Friday Despite 168 para-athletes for this edition, which was nearly half of the contingent size that went to the Hangzhou Games in 2023, India returned with 114 medals, including 30 gold. In the previous edition, India had sent 309 para-athletes and they finished fifth on the medal tally with 101 medals, including 29 gold, 31 silver and 51 bronze ■ ■ On the last day of their competition on Friday, India collected nine gold medals, their highest single-day haul in the ongoing edition, with top finishes registered in archery, shooting, badminton and athletics Athletics, as always, ended up being the driving force snaring 65 medals in all, 12 more than 2023 | P11 114 medals won by india including 30 gold, 35 silver and 49 bronze CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI Odisha bags nearly `54K cr investment Festive cheer Net FDI inflows proposals at India Chem 2026: Majhi state of the economy eludes Street as went up 44% equities bleed during Apr-Aug E x p r e s s N e w s Se r v i c e @ Bhubaneswar D IPA K M O N D A L @ New Delhi INDIAN equities continue to bleed through the festive season when buying sentiment is typically strong. The benchmark indices—BSE Sensex and NSE Nifty 50—settled in the red in all four trading sessions of this week, with the broader indices facing a much steeper decline. On Friday, the 30-share BSE Sensex opened higher but later plunged 797.02 points, or 1.08%, to hit an intraday low of 72,452.37. It later recouped some losses to settle at 73,123.83, down 125.56 points, or 0.17%. The 50-share NSE Nifty dropped 87.65 points, or 0.39%, to close at 22,600 after tumbling 315.65 points, or 1.39%, to a low of 22,372 on Friday The . Nifty Midcap 100 declined 2.21% and the Nifty Smallcap 100 fell 2.94%. Investors lost over `20 lakh crore this week as the market capitalisation of all BSE-listed firms came down from `473.46 lakh crore to `452.40 lakh crore. Friday’s The decline is 74,000 73,249.39 close primarily attribPrevious 73,123.83 uted to elevated close crude oil prices 73,000 amid g rowing tensions in West Asia. At about $116 per barrel, 72,000 am 9 11 am 1 pm 3 pm 4 pm Brent crude oil Change is trading near a -125.56 (-0.17%) six-month high. For India, persistently high crude prices pose risks to imported inflation, corporate margins, and currency stability If oil prices remain . high, it could also lead to foreign fund outflows, further hurting domestic equities. “Indian markets are currently seeing selling pressure primarily due to global factors with elevated geopolitical tensions, rising bond yields and the sharp rise in crude oil prices, which increased concerns around inflation, margins and the current account. At the same time, tighter global liquidity and higher interest rates have reduced risk off sentiment,” said Shweta Rajani, associate director, Anand Rathi Wealth Ltd. Rajani explained that historically, the festive season that starts from the Navratri days till the end of Diwali has been favourable for equities. The Nifty50 and Sensex have fallen by around 14% since the beginning of this year. If the bearish trend continues till December, it would be the first time in the past 10 years that Indian equities give negative returns in a calendar year. According to Sudeep Shah, head of technical and derivatives research at SBI Securities, the sharp correction in AI- and data centre-related stocks across global exchanges has deepened market volatility . amid the exodus of foreign portfolio investors (FPIs) from Indian equity markets, net foreign direct investment (FDI) inflows have provided a silver lining, rising 44% year-on-year to $13.8 billion during April-August 2026, up from $9.6 billion in the first five months of last fiscal. According to the Reserve Bank of India’s (RBI) October bulletin released on Friday, net FDI stood at $3.3 billion in August, supported by sustained gross FDI inflows and a moderation in the pace of outward FDI. The RBI data showed that gross FDI inflows rose 20% y-o-y to $11.1 billion during the AprilAugust period, while net outward FDI increased 26.5% to $17.7 billion, compared with a 41.9% rise a year ago. In August, outward FDI flows moderated, with more than half directed towards Singapore, the Netherlands and the US. India recorded negative net FDI Net foreign direct and flows from Auportfolio investment gust to Decem2024-25 ber 2025 before Q1 Q2 Q3 Q4 recovering in the Net FDI 6.2 -2.8 -2.8 0.4 final quarter of the previous fiNet FPI 0.9 19.9 -11.4 -5.9 nancial year. In 2025-26 (Provisional) the current fiQ1 Q2 Q3 Q4 nancial year, net FDI again Net FDI 5.2 2.1 -5.1 4.5 slipped into negNet FPI 1.6 -5.7 -0.2 -13.5 ative territory in 2026-27 (Provisional) May and June as outward investQ1 Q2 ments exceeded Net FDI 3.1 10.7* inward inflows. Net FPI -9.6 -0.3 Financial serv(Figures in $ bn) *Data for July-August ices, communication services, computer services and manufacturing accounted for 73% of total FDI equity inflows during April-August 2026. Singapore, Japan, Mauritius, the United Arab Emirates and the US were the major sources of inward FDI, together accounting for around 81% of total inflows. The rebound in FDI comes amid a sustained sell-off by FPIs to the tune of $9.8 billion during April-August, data showed. RBI also reported a sharp rise in its net dollar purchases in August, buying $43.26 billion on a net basis, more than double the $18.65 billion purchased in July The increase came amid sig. nificant inflows of NRI deposits into banks. India received around $136 billion under the RBI’s special dollar swap window, with Foreign Currency Non-Resident (Bank), or FCNR(B), deposits crossing $127 billion in August. Meanwhile, RBI flagged concerns over rising inflationary pressures stemming from the West Asia crisis and recurring trade tensions, alongside multi-decade-high sovereign bond yields and elevated public debt. However, it noted that sustained domestic demand and the services sector continued to support economic growth. BSE sensex Source: RBI bulletin A RSH A D K H A N @ New Delhi Chief Minister Mohan Charan Majhi on Friday said Odisha has secured investment proposals worth `53,893.51 crore, with the potential to generate 20,210 jobs, during India Chem 2026 in Mumbai. Speaking to mediapersons on his return to Bhubaneswar after the two-day visit, Majhi said the state had consolidated its position as a preferred destination for investment in the chemical and petrochemical sector. “During the two-day India Chem 2026, nine memorandums of understanding (MoUs) and four investment intents were signed. Besides, one-to-one meetings were held with 25 business leaders,” he said. The major investment proposals include two MoUs signed with NLC India Limited in the chemical and power sectors. The power sector pact is worth `34,763.51 crore and expected to create 4,100 jobs, while the chemical sector CM Mohan Majhi with POSCO and JSW leadership at India Chem 2026 Major Investments Company Sector Investment NLC India Ltd Power `34,763.51 cr L&T Limited Conglomerate `8,100 cr PPL Chemical `4750 cr NLC India Ltd Chemical `2,000 cr Agro Processing Company Agro-processing `1,000 cr JSW Dulux Chemical agreement involves an investment of `2,000 crore and 500 jobs. The state government also inked an MoU worth `850 cr Nine MoUs and four investment intents were signed. Besides, one-to-one meetings were held with 25 business leaders Mohan Charan Majhi, CM `8,100 crore with Larsen and Toubro Limited (L&T), with a job potential of 1,300. Another MoU, worth `4,750 crore, was signed with Paradeep Phosphates Limited in the chemical sector, which is expected to provide employment to 1,000 people. During his visit, Majhi toured the L&T facility in Mumbai and witnessed the company’s major projects. L&T CMD SN Subrahmanyan briefed him on the group’s global presence, operations and working model. The chief minister interacted with Odia employees of the company and discussed investment opportunities and future collaboration with the heads of L&T group companies. He also held talks with the leadership of POSCO and the JSW Group, besides representatives of companies from the US and European Union countries. Majhi said the meetings helped the state understand the requirements of the companies, while also apprising them of the facilities and opportunities available in Odisha. “Several companies have shown keen interest in investing in the state,” CONTINUED ON P5 he said. AP, Odisha in the projected cone as powerful storm builds up in BoB A s i s h M e h ta @ Bhubaneswar A powerful storm building over the Bay of Bengal is likely to head towards the north Andhra Pradesh and south Odisha coast on October 28, the India Meteorological Department (IMD) said on Friday . The national forecaster did not specify the system’s peak intensity but said it could continue to intensify after reaching the cyclonic storm stage by October 26 (Monday). Once it reaches the cyclone category, the storm will be named Arnab, as suggested by Bangladesh. IMD director general Mrutyunjay Mohapatra said the low-pressure area over the east-central and adjoining south-east Bay of Bengal would intensify into a deep depression on Sunday and further into a cyclonic storm by Monday morning. Thereafter, it would continue to move west-northwestwards and intensify further until Wednesday morning. It is expected to approach the north Andhra Pradesh and south Odisha coast on Wednesday morning, he said. Following the IMD’s forecast, the Odisha government alerted districts likely to be affected by the storm. Revenue and Disaster Management minister Suresh Pujari said the government was closely monitoring the weather system and asked the districts to remain prepared for any emergency arising from heavy rainfall and gusty winds. Storm trackers and numerical weather prediction models suggested that the storm could intensify into a severe cyclonic storm. Some models indicated further intensification, with the system likely to affect the eastern coast. However, an anti-cyclone and a ridge to the north of the system could influence its track and potential landfall location. There is speculation that the storm could cross the coast between Visakhapatnam and Machilipatnam, in the Kakinada region. However, Mohapatra said a clearer picture of the cyclone’s intensity would emerge over the next couple of days. Under the system’s influence, wind speeds are expected to reach 70-80 kmph, gusting to 90 kmph, from Monday onwards. Wind speeds are likely to increase gradually until Wednesday morning. CONTINUED ON P5 VanDyke returns for court hearing US national Matthew Aaron VanDyke, who is accused of illegally entering Myanmar through India to train armed groups in drone warfare, returned to India to attend court proceedings | P7 PLA patrol deviation tied to Keralam’s vigilance bureau review finds no lapses LAC disturbances, says govt in ’07 suicide probe that gave Gyanesh a clean chit In the eye of a storm j ayan t h j a c ob @ New Delhi S h an A S @ T’Puram Possible next steps In possible relief to embattled Chief Election Commissioner (CEC) Gyanesh Kumar, Keralam’s Vigilance and Anti-Corruption Bureau (VACB) has found no lapses in its 2007 preliminary inquiry against him following the suicide of a Malaysian engineer involved in a road-widening project in the state. Kumar was given a clean chit in the probe at the time. Sources said the preliminary inquiry against Kumar, then secretary of public works department, was found to be in line with rules and vigilance protocols. Earlier this month, the UDF government ordered a relook into the 2007 inquiry after a Congress leader filed a complaint alleging that past probes were compromised or stopped due to pressure. The move came amid protests de- The Keralam government might ask the Crime Branch to form a special team to probe all angles, other than graft, in Lee’s death. Sources said the move could bring to the fore the suicide note naming Gyanesh Kumar. After Lee’s death, the state police attempted to get its copy from Malaysia but was unable to do so Protesters at a march against the CEC in New Delhi on Friday | Sayantan ghosh manding the CEC’s resignation over alleged irregularities in the Special Intensive Revision of electoral rolls. Lee See Been, who served as chief project manager for PATIBEL, an Indo-Malaysian consortium involved in a road project, ended his life in Kuala Lumpur in 2006 allegedly after his bid to get bills cleared was stonewalled by officials. Kumar’s name was mentioned in one of his suicide notes, which alleged that systemic corruption was plaguing the project’s implementation. In the wake of the government’s order, the VACB scrutinised the preliminary inquiry . Sources said the assessment did not reveal any lacunae and “it appears there is no scope for any further vigilance action”. They said the complainant did not produce any fresh evidence against Kumar to compel the agency to revisit its clean chit. The VACB found that two other preliminary inquiries were conducted against Kumar in this period, but neither could make out a case against him, sources said. INDIA and China continue to use established diplomatic and military mechanisms to resolve outstanding issues and prevent misunderstandings along the Line of Actual Control (LAC), the Ministry of External Affairs (MEA) said on Friday, amid a row over remarks by Indo-Tibetan Border Police (ITBP) chief Shatrujeet Kapur about an ongoing faceoff in Arunachal Pradesh. MEA spokesperson Randhir Jaiswal, responding to questions about Kapur’s reported comments, said disturbances along the India-China border occur when Chinese troops deviate from “established patrolling patterns.” He, however, did not provide specific details about the reported face-off in Arunachal Pradesh and referred questions on operational matters to the Ministry of Defence. “We have noted in the past, the situation in the India-Chi- Arunachal standoff On ITBP chief Shatrujeet Kapur’s lowdown on the face-off in Arunachal, MEA didn’t elaborate on locations involved, nature of the confrontation or whether the situation was still on na border areas gets disturbed from time to time when Chinese forces diverge from established patrolling patterns,” Jaiswal said. “Both sides continue to use existing diplomatic and military mechanisms to resolve outstanding issues and avoid misunderstanding and miscalculation along the Line of Actual Control,” he added. Jaiswal also said the two countries had agreed to discuss ways to improve their understanding of the LAC in appropriate areas to strengthen border management. The MEA’s remarks came after Kapur reportedly referred to a continuing face-off at multiple locations in Arunachal Pradesh during an address to ITBP personnel at a felicitation ceremony in Alwar, Rajasthan, on Thursday . “In recent days, there was a s i t u at i o n i n A r u n a ch a l Pradesh where there was a face-off at different locations, which is still continuing. There our Shaurya commando teams did really exceedingly well,” Kapur reportedly said, praising the performance of ITBP’s elite Shaurya platoon.