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Maha govt signs 31 MoUs for investment proposals worth Rs 6,25,457 crore at Davos

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10 months ago

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Mumbai, Jan 22: The Maharashtra government has signed a record 31 MoUs with investment proposals worth Rs 6,25,457 crore in the field of steel, metals, renewable energy, infrastructure, cement, Lithium-Ion Batteries and Solar Modules on the sidelines of World Economic Forum summit at Davos.

The MoUs were signed on Tuesday in the presence of Chief Minister Devendra Fadnavis and senior government officers.

CM Fadnavis said, “The MoU signed today paves the way for Maharashtra’s comprehensive growth and development.” He further stated that this marks a new record for securing such a significant investment amount in a single day. Similarly, several investment agreements are expected on the second day as well.

Of the Rs 6,25,457 crore, JSW will invest a record Rs 3 lakh crore for Maharashtra’s Green Transformation and Tata Group will also make an investment of Rs 30,000 crore in multiple sectors.

The Chief Minister met with key executives of several companies and invited them to invest in Maharashtra. Among these, Tata Group Chairman N. Chandrasekaran held discussions with CM Fadnavis during which it was confirmed that the Group would invest Rs 30,000 crore in the state. The CM also met Carlsberg Group CEO Jacob Aarup-Andersen, who expressed interest in investing in Maharashtra.

The Chief Minister assured him of full cooperation for the group’s plans. Additionally, M.A. Yusuff Ali, Managing Director of the Lulu Group, conveyed interest in investing in Nagpur and expanding operations in Maharashtra.

CM Fadnavis held discussions with ReNew Power Chairman and CEO Sumant Sinha about a 15,000 MW pipeline and wind energy projects in the Beed district. Schneider Electric India’s Managing Director and CEO Deepak Sharma also met the Chief Minister. Discussions included the use of AI in the energy sector and strengthening ITIs in the state with assistance from the World Bank. Expansion plans in Ahilyanagar and Nashik were also hinted at. Mastercard APAC President Ling Hai held talks with CM Fadnavis, while Louis Dreyfus Company CEO Michael Gelchie discussed opportunities in agriculture, food processing, international shipping, and financial sectors. Emphasis was placed on enhancing collaboration in agriculture. The CM also met Cognizant CEO Ravi Kumar S. and discussed potential investments and opportunities.

“The series of meetings highlighted Maharashtra’s focus on attracting substantial global investments and fostering economic development,” said the Chief Minister’s Office in a release.

CM Fadnavis in his post on X said, “Extremely happy to witness the historic Rs 3,00,000 crore MoU signing between Govt of Maharashtra & JSW Group, with an employment generation of 10,000 in the regions of Chhatrapati Sambhajinagar, Gadchiroli, and Nagpur. Very much thankful to Sajjan Jindal ji for being a part of this historic moment at Davos, which will give a huge boost to Maharashtra’s industrial environment. It will give a big boost to Maharashtra’s industrial environment. The areas of this investment like Renewable Energy, Infrastructure, Cement, Lithium-Ion Batteries, and Solar Modules will play a huge role in our mission ‘Green Maharashtra.”

The government signed an MoU with Waaree Energy with a total investment of Rs 30,000 crore in green energy and solar components. it will create 7,500 jobs. The company chairman Hitesh Joshi was present.

The government inked an MoU with Blackstone-Panchshil Realty for an investment of Rs 25,000 crore for the development of the data centre. It will generate 500 jobs. Further, Blackstone will invest Rs 25,000 crore in Information Technology in the Mumbai Metropolitan Region. It will create 1,000 jobs.

The government inked an MoU with Erulearning Solutions for an investment worth Rs 20,000 crore in education. The government signed an MoU with ZR2 Group for investment worth Rs 17,500 crore in automobiles and EVs in Pune region to generate 4,000 jobs.

The state government and Balasore Alloys Ltd signed an MoU for investment of Rs 17,000 crore in steel and metals. The venture will generate 3,200 jobs. The company was represented by Satish Kaushik at the time of the signing of the MoU.

The state government and Reliance Infrastructure Ltd signed an MoU for investment worth Rs 16,500 crore in the defence sector. It will generate 2,450 jobs. The company was represented by Sateesh Seth.

Powerin Urjaa will invest Rs 15,299 crore in green energy and generate 4,000 jobs. Open Origin India Inc will invest Rs 15,000 crore in green energy to create 1,000 jobs.

Viraj Profiles Pvt Ltd and the state government inked an MoU for the investment of Rs 12,000 crore in steel and metals to generate 3,500 jobs. Neeraj Raja Kochhar, Chairman and MD of Viraj Profiles was present at the time of the signing of the MoU.

Avani Power Batteries will make investment of Rs 10,521 crore in electronics to generate 5,000 jobs in Chhatrapati Sambhajinagar. H2e Power will invest 10,750 crore in green energy to create 1,850 jobs in Pune region.

The government signed an MoU with Rural Enhancers for investment worth Rs 10,000 crore in social sectors including hospitals.

The government inked an MoU with Welspun for an investment worth Rs 8,500 crore in logistics to generate 17,300 jobs.

Essar in partnership with Blue Energy will invest Rs 8,000 crore in green energy to create 2,000 jobs.

Further, United Phosphorus will make an investment of Rs 6,500 crore in green energy to generate 3,000 jobs. The government signed an MoU with Olectra EV for investment worth Rs 3,000 crore in automotive and EV to generate 3,000 jobs.

Kalyani Group will invest Rs 5,250 crore in defence, steel and EV. It will create 4,000 jobs. The MoU was signed in the presence of CM Fadnavis and Vice-Chairman & Joint MD of Bharat Forge Limited Amit Kalyani. “Thank you Amit Kalyani for joining this MoU signing at Davos! This investment is special because it is coming to Gadchiroli, which will give better lives to so many,” said the chief minister.

Gensol will invest Ra 4,000 crore in electronics in Chhatrapati Sambhajinagar to create 500 jobs. The government inked an MoU with & El Mont for the investment of Rs 2,000 crore in infrastructure. It will generate 5,000 jobs. The company director Kabir Bhandari was present.

BookMyShow will invest Rs 1,700 crore in the entertainment sector to generate 500 jobs. Further, the government signed an MoU with Tembo for an investment worth Rs 1,000 crore in the defence sector. It will create 300 jobs. The company director Shabbir Merchant was present on the occasion.

The government also inked an MoU with AB InBev in the F&B segment for investment worth Rs 750 crore. Kartikeya Sharma, President, India & South East Asia of AB InBev was present on the occasion.

Moreover, the government inked an MoU with CEAT Limited for investment worth Rs 500 crore in automotive and EC to generate 500 jobs.

Bisleri International will invest Rs 250 crore in food and beverages in the Mumbai Metropolitan Region to create 600 jobs. The MoU signed paves the way for Maharashtra’s comprehensive growth and development.

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Sensex, Nifty open lower amid mixed global cues

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2 hours ago

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November 11, 2025

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Mumbai, Nov 11: The Indian benchmark indices opened mildly in red on Tuesday, amid progress on the US shutdown bill and optimism regarding an India-US trade deal soon.

As of 9.25 am, the Sensex was down 177 points, or 0.21 per cent at 85,338 and the Nifty inched down 51 points, or 0.20 per cent to 25,523.

The broadcap indices performed better than benchmarks, with the Nifty Midcap 100 down only 0.09 per cent and the Nifty Smallcap 100 losing 0.06 per cent.

TCS, Tech Mahindra and Dr Reddy’s Labs were among the major gainers in the Nifty Pack, while losers included Bajaj Finance, Bajaj Finserv, Shriram Finance and Asian Paints.

Sectoral indices were trading mixed with most of them trading with mild negative bias. Nifty IT was the standout gainer up 0.31 per cent, while financial services, FMCG, Pharma and PSU Bank down 0.71 per cent, 0.49 per cent, 0.16 per cent and 0.57 per cent respectively.

“Nasdaq bounced back 2.2 per cent after the AI trade was weak last week. The return from AI stocks may take longer than expected, but there is no bubble in AI stocks, unlike the Tech bubble that crashed in 2000,” said market watchers.

They noted that Nasdaq PE was above 70 and many tech stocks were above 150 in March 2000, and AI stock PE valuations now range from 28 to 51, while Nasdaq’s PE is 32.

Most of the Asia-Pacific markets rose in early trading sessions on Tuesday tracking Wall Street gains on revived optimism regarding artificial intelligence stocks.

The US markets ended in the green zone overnight, as Nasdaq jumped 2.27 per cent, the S&P 500 added 1.54 per cent, and the Dow inched up 0.81 per cent.

In Asian markets, China’s Shanghai index lost 0.46 per cent, and Shenzhen dipped 0.67 per cent, Japan’s Nikkei added 0.43 per cent, while Hong Kong’s Hang Seng Index eased 0.29 per cent. South Korea’s Kospi jumped 1.38 per cent.

On Monday, foreign institutional investors (FIIs) sold equities worth Rs 4,889 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,787 crore.

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Jharkhand: Robbery and firing on trader sparks shutdown in Dhanbad market

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20 hours ago

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November 10, 2025

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Dhanbad, Nov 10: Traders on Monday launched a massive protest after a businessman was robbed and shot at inside the government-run Market Committee complex in the Barwadda police station area in Dhanbad, Jharkhand, late Sunday evening.

The incident has caused concerns over rising crime in Jharkhand’s coal capital, prompting traders to shut all 417 shops in the market complex for the day.

The attack took place around 8.30 p.m. on Sunday when three bike-borne assailants intercepted trader Shyam Bhimsariya while he was closing his shop.

The miscreants fired at him, snatched a bag containing Rs 4 lakh, and sped off. Bhimsariya narrowly escaped the bullet, which reportedly grazed past him. The incident created panic among shopkeepers and customers, many of whom rushed to safety.

On Monday morning, hundreds of traders assembled at the main gate of the Market Committee complex, raising slogans against the administration and demanding immediate arrests. They alleged that the market, which witnesses a heavy footfall, has long been operating without proper security measures.

The Market Committee complex is one of the busiest business hubs in Dhanbad, recording a daily turnover of Rs 7-8 crore.

“We will not tolerate this kind of atmosphere where traders fear for their lives every evening,” a member of the traders’ association said, adding that if the culprits are not arrested within 48 hours, the protest may spread to other markets across the district.

BJP MP Dhullu Mahto, addressing traders, said criminals are “roaming fearlessly” in Dhanbad. “The morale of criminals has gone up due to weak policing. The police must act immediately to restore confidence among traders,” he said.

Jharia Congress MLA Ragini Singh accused the state government of complete failure on the law and order front. “When crime is discussed in the Assembly, the government remains silent. People are living in fear while criminals are dictating terms,” she remarked.

Outgoing Mayor Chandrashekhar Agarwal demanded urgent security measures in the market area, suggesting that CCTV cameras be installed. He said a permanent police post must be established to prevent the recurrence of such incidents.

Dhanbad District Chamber of Commerce president Chetan Goenka strongly condemned the attack and criticised authorities for ignoring repeated requests for better security.

“It is shocking that a market with a daily business of Rs 7-8 crore has neither CCTV surveillance nor police patrolling. Traders cannot operate under fear. The administration must take permanent measures,” Goenka said.

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Sensex, Nifty open in green amid positive global cues

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1 day ago

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November 10, 2025

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Mumbai, Nov 10: Indian benchmark indices opened the week in the green zone on Monday, amid positive global cues and investor optimism of FII coming back to India due to loss in artificial intelligence (AI) stocks.

As of 9.25 am, Sensex was up 115 points, or 0.14 per cent at 83,331 and Nifty inched up 35 points, or 0.14 per cent to 25,521.

The broadcap indices outperformed benchmarks in terms of gains, with the Nifty Midcap 100 up or 0.37 per cent, and the Nifty Smallcap 100 adding 0.27 per cent.

Asian Paints, L&T and Hindalco were among the major gainers in the Nifty Pack, while losers included Trent, Apollo Hospitals, Max Healthcare, Maruti Suzuki and Dr Reddy’s Labs.

Nifty IT, Metal and Pharma were among the biggest sectoral gainers, adding 0.56 to 0.79 per cent. All the sectoral indices were trading in the green except Nifty Media.

Analysts said that FIIs, particularly the hedge funds, who have been consistently selling in India and taking money out for playing the AI trade, are now likely to pause and slowly reverse the AI trade in favour of non-AI trade in countries like India.

“The strong earnings growth in the US has been a fundamental support that pushed up AI stock valuations to elevated valuations. Countries regarded as AI winners such China, South Korea and Taiwan also have benefited from this AI rally,” said market watchers.

Analysts noted that there are signs of this AI trade losing steam as evidenced by the 3 per cent decline in Nasdaq last week. If this healthy trend persists without high volatility, it will make the US market robust, preempting a bubble formation and its eventual burst, they added.

Further, Wall Street stocks gained as reports suggested the longest shutdown of the US Federal Government might end.

The US markets ended in the green zone in the last trading session, as Nasdaq dipped 0.22 per cent, the S&P 500 added 0.13 per cent, and the Dow inched up 0.16 per cent.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index lost 0.03 per cent, and Shenzhen dipped 0.59 per cent, Japan’s Nikkei added 1.04 per cent, while Hong Kong’s Hang Seng Index added 0.57 per cent. South Korea’s Kospi jumped 3.04 per cent.

On Friday, foreign institutional investors (FIIs) sold equities worth Rs 4,889 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,787 crore.

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