KEI Industries share price rose significantly following the announcement of its Q3 FY25 results and an interim dividend. The share price gained over 11% in 2 days, with a 9.4% jump on Thursday, hitting an intraday high of ₹4,516.65.
Stock Performance
As of 10:46 AM on Thursday, the stock was trading at ₹4,471.55 on the BSE, up 8.34%. The company’s market cap stood at ₹42,726.82 crore. The 52-week high was ₹5,040.4, and the 52-week low was ₹2,883.6. Over the past year, KEI shares have surged 36.7%, outperforming the Sensex, which rose 8.5% in the same period.
Q3 FY25 Financial Highlights
Net Profit: ₹165 crore, a 9% YoY increase compared to ₹151 crore in Q3 FY24.
Revenue: ₹2,467 crore, up 19.8% YoY from ₹2,059 crore a year ago.
Interim Dividend Announcement
The board approved an interim dividend of ₹4 per equity share (face value of ₹2 each) for FY25.
The record date for the dividend is January 27, 2025.
Industry Growth Drivers
The cable and wire industry is experiencing strong growth due to demand from sectors like power distribution, solar energy, and infrastructure.
KEI’s continued focus on capital investment, robust margins, and a strong balance sheet is expected to further enhance its performance.
About KEI Industries
KEI Industries specialises in manufacturing electrical products, including power cables, control cables, and flexible cables. These products are widely used in power distribution, construction, and telecommunications, and the company is recognised for its high-quality offerings and strong industry presence.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
On January 23, 2025, UltraTech Cement shares gained momentum ahead of its Q3 results, climbing 2.2% to an intraday high of ₹10,930.05. By 10:11 AM, the stock was trading 1.81% higher at ₹10,888.10, while the BSE Sensex was up 0.28% at 76,617.12.
Financial Highlights
UltraTech Cement reported a net profit of ₹825 crore for the July-September 2024 quarter. The profit dropped by 36% compared to ₹1,280 crore in the same period last year. The company’s revenue for the quarter stood at ₹15,635 crore, a 2% decline year-on-year (YoY) but slightly higher than the estimated ₹15,420 crore.
Operating margins also declined significantly, dropping 300 basis points from 15.9% in Q2 FY24 to 12.9% in Q2 FY25. EBITDA came in at ₹2,019 crore, lower than the expected ₹2,180 crore and a 21% drop from ₹2,550 crore in the same quarter last year.
About UltraTech Cement
UltraTech Cement, part of the Aditya Birla Group, is India’s largest cement producer, with a capacity of over 120 million tonnes per year. The company operates more than 20 integrated plants, along with grinding units and bulk terminals across India.
A leader in the Indian cement market, UltraTech also has a strong presence in exports. Its product portfolio includes Ordinary Portland Cement (OPC), Portland Pozzolana Cement (PPC), and Ready Mix Concrete (RMC), catering to diverse construction needs ranging from residential projects to large infrastructure developments.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
HDFC Bank, India’s largest private lender, reported a standalone net profit of ₹16,735.5 crore for the October-December quarter of FY25. This marks a 2.2% year-on-year (YoY) growth from ₹16,372.5 crore in Q3FY24. However, the profit saw a slight dip compared to ₹16,820.9 crore in the previous quarter.
Net Interest Income (NII) and Margins
The bank’s net interest income (NII) grew 8% YoY to ₹30,653 crore in Q3FY25. Net interest margin (NIM) stood at 3.43%, slightly higher than 3.4% YoY but lower than 3.46% in the previous quarter.
Asset Quality and Provisions
Asset quality weakened during the quarter. The gross non-performing asset (GNPA) ratio rose to 1.42%, compared to 1.36% in the previous quarter and 1.26% a year ago. The net NPA ratio increased to 0.46% from 0.41% QoQ and 0.31% YoY. Provisions for the quarter rose to ₹3,135.8 crore from ₹2,700.5 crore in Q2FY25 but were lower than ₹4,216.6 crore a year earlier.
Overall, HDFC Bank delivered better-than-expected results, boosting investor confidence and positively impacting market sentiment.
About HDFC Bank Limited
HDFC Bank Limited, based in Mumbai, is a major Indian banking and financial services company. It is the largest private bank in India by assets and ranks as the tenth-largest bank globally by market value as of May 2024. As of April 2024, the bank has a market value of $145 billion, making it the third-largest company on India’s stock exchanges.
HDFC Bank share price is currently trading at ₹1,670.15, up by ₹4.10 (0.25%) as of 10:00 AM IST on January 23. The stock opened at ₹1,687.00, reached a high of ₹1,687.00, and a low of ₹1,663.50. Over the past 52 weeks, the stock’s highest value was ₹1,880.00, and its lowest was ₹1,363.55. In the past 5 days, it has risen by ₹27.75 (1.69%), while it has gained ₹55.10 (3.40%) over the past 6 months. Compared to a year ago, HDFC Bank Ltd’s stock has increased by ₹246.15 (17.25%).
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
January 23, 2025 09:33 AM
Stock Market Live: Stocks to Watch: HUL, BPCL, Coforge, Paras Defence in Focus
Key stocks in focus include HUL, which reported a profit of ₹3,001 crore and announced the demerger of Kwality Wall’s and a stake acquisition in Minimalist. BPCL’s profit surged to ₹4,640 crore, while Coforge posted a profit of ₹216 crore and declared a ₹19/share interim dividend. Pidilite Industries recorded a ₹552 crore profit, and Tata Communications saw a 424% YoY profit jump to ₹236 crore. Paras Defence signed an MoU to establish a ₹12,000 crore Optics Park in Maharashtra, creating 2,000 jobs by 2028.
January 23, 2025 11:06 AM
Share Market Live Updates: Zensar Hits 52-Week High
Zensar Technologies Limited announced its consolidated financial results for the third quarter ending December 31, 2024, for the financial year 2024-2025. The company reported a revenue of $157.0 million for Q3FY25, marking a year-on-year (YoY) growth of 8.6% in reported currency and 7.5% in constant currency.
On a sequential quarter-over-quarter (QoQ) basis, the growth was 0.5% in reported currency and 0.7% in constant currency. Gross Margin for the quarter stood at 30.1% of revenues, reflecting a 200 basis point improvement from the previous quarter.
January 23, 2025 11:20 AM
Share Market Live: Coforge Shares Jump 10%
Coforge Limited’s shares surged 10% to ₹9,051 on January 23, 2025, following its robust Q3 FY25 results and a ₹19 interim dividend announcement. The company reported a revenue of ₹3,318.2 crore, reflecting 40.3% YoY growth in constant currency terms and 42.8% YoY growth in INR terms. EBITDA rose 29.3% YoY to ₹519.0 crore, while adjusted PAT increased 10.3% YoY to ₹268.0 crore. The strong performance was driven by significant growth across sequential and year-on-year metrics.
January 23, 2025 11:32 AM
Share Market Live: Mazagon Dock Shipbuilders Stock Up 4%
Mazagon Dock Shipbuilders (NSE: MAZDOCK) share price traded 3.55% higher at ₹2,369 at 11:10 AM on the NSE. The stock opened at ₹2,275.85, higher than ₹2,287.75 at the previous close. The stock rose to a day’s high of ₹2,423 in the early trade before cooling off to a day’s low of ₹2,256.60. Despite yesterday’s loss the stock price continued to trade close to its 52-week high of ₹2,930 recorded on July 5, 2024.
The company also issued a clarification regarding the recent media reports on a contract with Jawaharlal Nehru Port Authority (JNPA) about an electric water taxi.
January 23, 2025 11:50 AM
Share Market Live Updates: India’s Renewable Energy Surge
India’s renewable energy sector is rapidly transforming, and 2024 marked an exceptional year in this transition. With a growing commitment to sustainability and green energy solutions, India continues to make waves in the global energy landscape. By 2030, the country aims to achieve 500 GW of non-fossil fuel-based energy capacity—a monumental goal that solidifies its position as a clean energy leader.
January 23, 2025 12:37 PM
Share Market Live: Markets Trade Volatile Amid Mixed Global Cues
On January 23, 2025, Indian benchmark indices Nifty50 and Sensex, witnessed volatility due to mixed global signals. The BSE Sensex fluctuated between gains and losses, trading at 76,553.34, up 148.35 points by noon, while the Nifty50 rose 0.24% to 23,210.20. Gains in UltraTech Cement, Tech Mahindra, Sun Pharma, and M&M supported the indices, though losses in HUL, HDFC Bank, SBI, Reliance Industries, and HCL Tech capped the upside.
Broader markets outperformed, with Nifty SmallCap and MidCap indices advancing 1.1% and 1.6%, respectively. Sectorally, Nifty IT led with a 2% rise, while Nifty PSU Bank declined 0.5%. Investors are closely monitoring Q3 results from major companies like UltraTech Cement and Dr Reddy’s.
January 23, 2025 12:56 PM
Share Market Live: Jupiter Wagons Shares Rise on Fundraising Plans
Jupiter Wagons share price saw a rise of 2.61% on January 23, 2025, reaching an intraday high of ₹485.75. By 12:31 PM, the stock was trading 1.50% higher at ₹480.45, while the BSE Sensex was up 0.38% at 76,696.88.
The company announced a board meeting scheduled for January 29, 2025, to discuss plans for raising funds through various methods. These may include issuing equity shares, convertible preference shares, bonds, debentures, warrants, or other equity-linked instruments. Potential fundraising modes include private placements, qualified institutional placements (QIPs), public issues, rights issues, or preferential allotments, subject to necessary approvals.
January 23, 2025 01:44 PM
Stock Market Live: Mid-Day Top Gainers and Losers
As of 12:05 PM on January 23, 2025, the BSE Sensex rose 0.23% to 76,569.05, while Nifty50 gained 0.28% to 23,219.90.
Among the top gainers, Wipro surged 3.8% to ₹320.85, Tech Mahindra rose 2.31% to ₹1,722.80, and Tata Consumer Products gained 2.13% to ₹988. UltraTech Cement and Mahindra & Mahindra also saw gains of 2.12% and 1.72%, respectively. On the downside, Hindustan Unilever dropped 1.37% to ₹2,310.95 despite strong Q3 profit growth, and BPCL fell 1.33% to ₹273.9 after a revenue decline. Dr. Reddy’s, HCL Technologies, and SBI also posted losses, down 1.18%, 1.01%, and 0.64%, respectively.
January 23, 2025 02:03 PM
Stock Market Live: Biocon Share Price Gains 3% on Fundraising Announcement
Biocon share price rose by 2.61% to ₹398 per share on January 23, 2025, following the company’s announcement that its board will consider raising funds through commercial papers (CPs) or other private placement methods. The board meeting is scheduled for January 27, 2025.
January 23, 2025 02:21 PM
Stock Market Live Updates: IREDA Approves ₹5,000 Crore Fundraising via QIP
On January 23, 2025, Indian Renewable Energy Development Agency (IREDA) announced that it will raise ₹5,000 crore through a Qualified Institutional Placement (QIP). The funds will be raised in 1 or more tranches. The company’s board approved this plan during its meeting.
January 23, 2025 03:04 PM
Stock Market Live: Markets Gain on Auto, IT, and Healthcare Stocks
On January 23, 2025, benchmark indices gained momentum with strong buying in auto, IT, and healthcare stocks. At 2:00 PM, the BSE Sensex rose by 250 points to 76,650, while the NSE Nifty 50 hovered near 23,250.
January 23, 2025 03:35 PM
Stock Market Live Updates: Adani Energy Solutions Q3 Profit Surges 80% to ₹625 Crore
Adani Energy Solutions reported an 80% increase in consolidated net profit to ₹625.30 crore for the December 2023 quarter, compared to ₹348.25 crore a year ago. The rise was supported by higher revenues, with total income climbing to ₹6,000.39 crore from ₹4,824.42 crore in the same period last year, as per its BSE filing.
January 23, 2025 03:59 PM
Stock Market Live: Sensex and Nifty Close Higher, Supported by Gains in Auto, IT, and Healthcare Stocks
On Thursday, January 23, 2025, after a shaky start, the benchmark equity indices showed positive movement, boosted by strong buying in auto, IT, cement, and some healthcare stocks.
The BSE Sensex dropped to a low of 76,202 early in the session but quickly recovered and rose to a high of 76,743, ending the day at 76,520, up by 115 points. The NSE Nifty 50 reached a high of 23,271 and a low of 23,091 before closing 50 points higher at 23,205.
January 23, 2025 04:34 PM
Stock Market Live: Ultratech Cement Leads Gains, BPCL Sees Losses on January 23, 2025
On January 23, 2025, the Indian stock markets closed higher, with Nifty 50 rising by 0.22% and Sensex gaining 0.15%. The Nifty Consumer Durables and Nifty IT sectors saw gains of 1.97% and 1.79%, respectively.
Ultratech Cement led the day’s top gainers with a 6.67% increase, followed by Grasim (2.96%), Wipro (2.78%), Shriram Finance (2.38%), and Sun Pharma (2.23%). On the losing side, BPCL saw a decline of 2.14%, followed by Kotak Mahindra Bank (-1.28%), HCLTech (-1.14%), Reliance (-0.96%), and SBI (-0.96%).
Indian stock markets are likely to get impacted today, as indicated by GIFT Nifty futures trading 61 points lower than Nifty50 futures at 23,137. Yesterday, the Sensex gained 566 points (0.75%) to close at 76,404.99, and Nifty50 rose 130 points (0.57%) to settle at 23,155.35. Here are the stocks to keep an eye on:
Hindustan Unilever (HUL)
HUL reported a net profit of ₹3,001 crore, up from ₹2,519 crore year-on-year (YoY). Revenue stood at ₹15,195 crore compared to ₹14,930 crore YoY. EBITDA margin improved to 24.15% from 23.88% YoY. The company announced the demerger of its ice cream business, Kwality Wall’s, and signed an agreement to acquire a 90.5% stake in Minimalist for ₹2,955 crore.
BPCL
BPCL posted a sharp rise in net profit to ₹4,640 crore from ₹2,400 crore quarter-on-quarter (QoQ), while revenue grew to ₹1.27 lakh crore from ₹1.18 lakh crore QoQ. EBITDA margin improved to 5.94%, up from 3.85% QoQ.
Coforge
Coforge reported a net profit of ₹216 crore, up from ₹202 crore QoQ, with revenue rising to ₹3,320 crore. The company declared an interim dividend of ₹19 per share.
Pidilite Industries
Pidilite Industries net profit rose to ₹552 crore from ₹510 crore YoY, while revenue increased to ₹3,369 crore from ₹3,130 crore YoY.
Tata Communications
Tata Communications recorded a 424% YoY growth in net profit to ₹236 crore, with revenue increasing by 3.8% YoY to ₹5,798 crore.
Paras Defence
Paras Defence signed an MoU with the Maharashtra government to establish an Optics Park with a ₹12,000 crore investment, expected to create 2,000 jobs by 2028.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
The share price of Persistent Systems, an IT company, fell by 6.71% on January 22, 2025, reaching an intraday low of ₹5,500. This decline comes ahead of the company’s Q3 FY25 results, which are set to be announced later today.
Strong Performance in Q2 FY25
In the previous quarter (Q2 FY25), Persistent Systems posted strong results. The company’s consolidated net profit grew by 23.4%, reaching ₹324.90 crore, up from ₹263.2 crore in Q2 FY24. Its revenue in US dollars stood at $345.5 million, marking a 5.3% increase from the previous quarter and an 18.4% rise year-on-year (Y-o-Y). In constant currency terms, the revenue increased by 5.1% compared to the previous quarter.
Persistent Systems also reported an earnings before interest and tax (EBIT) of ₹406.2 crore, up 5.8% quarter-on-quarter (Q-o-Q) and 28.8% Y-o-Y. The EBIT margin remained stable at 14%, with a slight increase of 30 basis points (bps) Y-o-Y.
Credit Rating Upgrade
Earlier this week, Persistent Systems announced that it had been given an [ICRA]AA+ (Stable) credit rating, reflecting its strong financial health and operational excellence.
About Persistent Systems
Persistent Systems is a global technology services company specialising in digital engineering and enterprise modernisation. It offers solutions in software engineering, cloud computing, IoT, customer experience (CX) transformation, and IT security. The company serves industries like banking, insurance, healthcare, life sciences, industrial sectors, telecom, and consumer technology, with a presence in regions such as India, the US, France, South Africa, and Japan.
As of 11:42 AM, Persistent Systems share price was down 7.05%, trading at ₹5,480.05, while the BSE Sensex was up 0.30%, at 76,067.41.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
The Employee Provident Fund Organisation (EPFO) is introducing a way for members to remove any incorrectly linked Member IDs from their Universal Account Number (UAN). The UAN is a unique 12-digit number that combines several EPF member IDs, but problems arise when multiple UANs are assigned or incorrect IDs are linked.
Why Delink a Member ID?
Sometimes, an incorrect Member ID is linked to an employee’s UAN without their knowledge. This can lead to complication and difficulties in managing their provident fund. To solve this, EPFO is offering a service to unlink the wrong Member ID.
How to Delink a Wrongly Linked Member ID
Follow these steps to remove an incorrect Member ID from your UAN:
Visit the EPFO member portal: https://unifiedportalmem.epfindia.gov.in/memberinterface/.
Log in using your UAN, password, and captcha.
After logging in, go to the ‘View’ menu.
Select ‘Service History’ from the options to see your service records.
Locate the incorrect Member ID in the list.
Click the ‘Delink’ button next to the wrong ID.
A confirmation alert will pop up; click ‘OK’ to continue.
Choose a reason for delinking.
Check the consent boxes and click ‘Get OTP.’
An OTP will be sent to your Aadhaar-linked mobile number.
Enter the OTP and click ‘Submit.’
If you don’t receive the OTP within 2 minutes, click ‘Resend.’
Once the OTP is verified, the incorrect Member ID will be removed.
A success text will appear, confirming that the ID has been successfully delinked.
Important Tips
Make sure your Aadhaar-linked mobile number is active.
Double-check the details before starting the delinking process to avoid errors.
If you face any issues, contact EPFO support for help.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
The government has approved the creation of the 8th Pay Commission to revise the salaries of central government employees and pensioners, with the changes expected to take effect from January 1, 2026. This decision was made ahead of the Union Budget 2025 and aims to adjust salaries in line with current inflation rates.
Changes Under the 7th Pay Commission
The 7th Pay Commission, which started on January 1, 2016, introduced several significant changes. It set a fitment factor of 2.57, meaning it multiplied the salaries of central government employees by 2.57 times across all levels. It also raised the minimum basic salary to ₹18,000, a large increase from ₹7,000 under the 6th Pay Commission. Additionally, the minimum pension increased from ₹3,500 to ₹9,000.
Changes Under the 6th Pay Commission
The 6th Pay Commission, introduced in January 2006, set a fitment factor of 1.86 and revised the minimum basic salary to ₹7,000, up from ₹2,750 in the 5th Pay Commission. The minimum pension also rose from ₹1,275 to ₹3,500 per month.
What Can Be Expected from the 8th Pay Commission?
Although no official announcements have been made yet, some reports suggest that the 8th Pay Commission might have a fitment factor between 2.28 and 2.86. If this happens, it could increase the minimum basic pay from ₹18,000 to anywhere between ₹41,000 and ₹51,480.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
January 22, 2025 01:48 PM
Stock Market Live: Welcome to Today’s Coverage by Angel One
Welcome to Angel One’s live coverage of developments in the stock market and the economy. Get insights on the latest events right here.
January 22, 2025 01:55 PM
Stock Market Live Update: Reliance Capital Seeks Delisting
Reliance Capital has filed for delisting of its shares and non-convertible debentures with the BSE and NSE as part of the resolution process. IndusInd International Holdings won the ₹9,650 crore bid, adding ₹200 crore to bolster solvency, the company said in a press release on the stock exchange.
Tata Technologies share price touches 52-week low at ₹788.65 post Q3 FY25 results. The company reported a total operating revenue of ₹13,174 million, reflecting a 2.2% YoY and 1.6% QoQ growth. The services segment revenue stood at ₹10,127 million, marking a 1.2% YoY and 0.8% QoQ increase. In constant currency, services revenue grew by 1.1% QoQ.
January 22, 2025 03:20 PM
Stock Market Live: SEBI to Leverage AI For Processing 1,000 IPO in Next 2 Years
The capital market regulator, Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch stated that it is utilising artificial intelligence (AI) to transform the way it processes initial public offering (IPO) documents during her address at the Association of Investment Bankers of India (AIBI) Annual Convention.
January 22, 2025 03:38 PM
Share Market Live: NTPC Launches 50 MW Solar Project With Ceylon Electricity Board
State-owned NTPC announced its initiative to set up a 50 MW solar power project in Sri Lanka in collaboration with the Ceylon Electricity Board. This project, formed through a 50:50 joint venture called Trincomalee Power Company Limited (TPCL), is located at Sampoor in Trincomalee.
January 22, 2025 03:42 PM
Stock Market Live: Persistent Systems Shares Drop Over 4% Ahead of Q3 FY25 Results
The share price of Persistent Systems, an IT company, fell by over 4% on January 22, 2025, reaching an intraday low of ₹5,445. This decline comes ahead of the company’s Q3 FY25 results, which are set to be announced later today.
January 22, 2025 04:01 PM
Share Market Live Updates: Bajaj Housing Finance Share Price Hits 52-week Low
Bajaj Housing Finance share price traded down by 2.16% at 2:59 PM (IST) at ₹111, hitting a 52-week low of ₹100.60 on January 22, 2025. The company’s share price reached a 52-week high of ₹188.45 on September 18, 2024.
January 22, 2025 04:28 PM
Share Market Live: Jana Small Finance, Tembo Global Hit Upper Circuit; Sagility and Suzlon Hit Lower
On January 22, 2025, stocks like Jana Small Finance Bank and Tembo Global Industries hit their upper circuit limits, rising by 18.96% and 4.99%, respectively. Navkar Urban Infrastructure also gained 4.96%. In contrast, Suzlon Energy, Sagility India, and KPI Green Energy hit their lower circuits, falling by 4.23%, 3.7%, and 5%, respectively.
January 22, 2025 04:34 PM
Stock Market Live: Markets End Higher! Nifty Settles Above 23,150, Sensex Gains 566 Points
On January 22, 2025, the equity markets ended higher, with the Nifty 50 gaining 0.57% to close at 23,155.35 and the Sensex rising 0.75% to 76,404.99.
Large-cap stocks drove gains, supported by IT and Pharma, while Realty, Media, and Energy sectors declined. Wipro and Infosys led the Nifty gainers, surging 3.87% and 3.02%, respectively, followed by TCS, Tech Mahindra, and HDFC Bank. However, BEL, Tata Motors, and Trent were among the top laggards, each falling over 2%. Broader markets saw mixed performance, with the Nifty Midcap 100 dropping 1.34%.
JSW Group has signed an agreement with the Maharashtra government to invest ₹3,00,000 crore in Gadchiroli district, an area affected by Naxal insurgency. This deal is part of a series of 20 agreements signed by the state during the World Economic Forum (WEF) meeting in Davos, Switzerland, with a total investment value of ₹5,00,000 crore.
Key Sectors Covered
The MoU includes investments in crucial sectors like steel, renewable energy, infrastructure, cement, lithium-ion batteries, and solar power technologies. These investments aim to establish Gadchiroli as a leading industrial hub, supporting Maharashtra’s goal of becoming an economic powerhouse.
Focus on Industrial Growth
Chief Minister Devendra Fadnavis, who led the state’s delegation in Davos, emphasised that these investments would contribute to Maharashtra’s industrial growth and sustainable development. Fadnavis envisions transforming Gadchiroli into a major steel city, with the government promoting the steel and mining industries in the region.
Government Support for Investment
To facilitate this investment, the Maharashtra government will speed up clearances and provide necessary fiscal incentives. They will also ensure access to land, water, power, and infrastructure to support industrial development, as per the state’s industrial policy.
Other Notable MoUs Signed
Besides JSW Group, several other companies signed MoUs with the Maharashtra government, including:
AB InBev (₹750 crore for a plant in Chhatrapati Sambhajinagar)
Waaree Energies (₹30,000 crore for a plant in Nagpur)
Blackstone-Panchshil Realty (₹25,000 crore)
Reliance Infrastructure (₹16,500 crore)
Essar Group (₹8,000 crore)
Bisleri International (₹250 crore), among others.
This partnership is expected to foster job creation, innovation, and long-term prosperity in Maharashtra.
About JSW Group
JSW Group is an Indian multinational conglomerate headquartered in Mumbai. Founded by Om Prakash Jindal and led by Sajjan Jindal, the group operates in various industries, including steel, energy, infrastructure, cement, automotive, and paints. It has a presence in India, the United States, South America, and Africa. Some of its subsidiaries are JSW Steel, JSW Energy, JSW Gecko Motors, Mytrah Energy, and JSW Cement. The company was founded in 1982.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
