State Maharashtra Financial News

KPI Green upper circuit: KPI Green Energy share price hit its 5 per cent upper circuit of ₹1,526 in early trade on BSE on Monday, March 18, following the company's announcement that it has bagged a 100MW solar power project from the Maharashtra State Power Generation Co. Ltd. KPI Green Energy share price opened at ₹1500 against the previous close of ₹1453.35 and soon jumped 5 per cent to hit its upper circuit level of ₹1,526.

₹837-crore (about $100 million) project to curb cyber crimes in the state. As part of a $100-million deal with the Maharashtra State Cyber Department, LTTS will also design a cybersecurity system for the state, with KPMG Assurance and Consulting Services LLP as its forensics partner.

Torrent Power on Thursday said it has bagged a contract from Maharashtra State Electricity Distribution Co Ltd for setting up 306 MW solar projects worth Rs 1,540 crore under the PM-KUSUM Scheme. The company in a statement said that the Letter of Award (LOA) for the project was handed over by Maharashtra Deputy Chief Minister Devendra Fadnavis. «Torrent Power has emerged as a successful bidder and has received Letter of Award from Maharashtra State Electricity Distribution Co. Ltd (MSEDCL) on March 7, 2024, for setting up of 306 MW grid-connected solar power project, at 48 distributed locations, across Nasik District, Maharashtra,» the statement said. The project is conceived by MSEB Solar Agro Power Ltd (MSAPL) under Mukhya Mantri Saur Krushi Vahini Yojana 2.0 (MSKVY 2.0) scheme for implementation of feeder level solarisation under Component C of the PM-KUSUM scheme connected to the distribution network.

Maharashtra government on Tuesday approved a bill, extending reservation to Marathas above the 50 per cent mark in a special session of the state legislature. The bill for 10 per cent Maratha quota that the Mahayuti government of Eknath Shinde has approved on Tuesday is similar to the Socially and Educationally Backward Classes Act, 2018, introduced by the then Devendra Fadnavis government. This is the third time in a decade that the state has introduced legislation for the Maratha quota.

Read more The Reserve Bank of India (RBI) on Friday extended by 15 days the deadline for stopping deposit transactions at Paytm Payments Bank, part of One 97 Communications that runs the digital payments firm Paytm. Customers now have time till 15 March to deposit money into their accounts, wallets, FASTags, and prepaid cards.

Ajit Pawar has initiated preparations for upcoming Lok Sabha elections and is targeting Baramati MP Supriya Sule's seat. Though the Baramati Lok Sabha segment is the traditional stronghold of Sharad Pawar and Supriya Sule, Ajit Pawar cited he will be fielding a candidate there. Ajit Pawar expressed though his candidate has not contested an election earlier, that person would have the support of those with ample experience.

Shirdi, which could result in a surge in ridership as a result. This announcement was made during his participation in the inauguration of the refurbished Mela Bus terminus of the Maharashtra State Road Transport Corporation (MSRTC) in Nashik. Originally, the Nashik-Pune semi-high-speed rail project intended to traverse Nashik-Sangamner-Pune, spanning a distance of 235 km, with an estimated cost of Rs 16,000 crore. The Nashik-Pune semi-high-speed rail project is being implemented by Maharashtra Rail Infrastructure Development Corporation Limited, a joint venture between the Government of Maharashtra and the Ministry of Railways. The alteration in the route to include Shirdi adds an additional 30 km to the Nashik-Pune route. Fadnavis explained that discussions with Railway Minister Ashwini Vaishnaw revealed that the initial route would escalate project costs substantially due to extensive tunneling requirements, a challenge alleviated by the new route.

HUDCO), is in talks with the government of Maharashtra to support infrastructure and housing projects in the state with funding of over Rs 30,000 crores, said a top company official. “We are in talks with the government of Maharashtra and development agencies involved in developing roads, infrastructure, and housing projects in the state to support several projects. We had a few meetings earlier this week too,” said Sanjay Kulshrestha, chairman & managing director, HUDCO. The public sector undertaking engaged in housing finance and infrastructure project finance is in talks with development bodies including Mumbai Metropolitan Region Development Authority (MMRDA), Maharashtra State Road Development Corporation (MSRDC), Thane Municipal Corporation, state government’s Public Works Department (PWD), and Mumbai Metro Rail Corporation.

India has begun commercial export of pomegranates to the USA after it lifted the export ban in 2022. The government expects this move to open a big market for the Indian pomegranates, a fruit which is being increasing preferred by consumers across the world for its health benefits.

Sharad Pawar's grandnephew Rohit Pawar has been summoned by the Enforcement Directorate (ED) to appear before the agency today, 24 January, Wednesday, for questioning in connection with the Maharashtra State Cooperative (MSC) Bank scam. On Wednesday, NCP-Sharad Pawar faction leader Rohit Pawar said, “I am carrying all the files and documents that the agency had asked for. I will answer all the questions of ED and will support them.

equity indices ended lower in a trading session on Saturday, dragged by information technology companies and Hindustan Unilever, but gains in lenders helped limit some losses.

Property registration in Pune during 2023 rose by 9.6% from its previous peak last year and reached a total of 1,52,323 registrations. According to Knight Frank India, the upsurge has led to a rise in total stamp duty collection, which was Rs 5,352 crore in 2023, up 10.5% year-on-year.

Sharad Pawar faction leader Jitendra Awhad 'regrets' his 'lord Ram was non-vegetarian' remark The six locations include Amravati, Aurangabad, Baramati, and Pune, the sources added. The money laundering case stems from an August 2019 FIR of the Mumbai Police Economic Offences (EOW) wing.

SJVN DIPAM has agreed to the proposal of the company and Ministry of Power to form four Joint Venture companies for the development of Hydro and Renewable Projects in India and Nepal. Eicher Motors Royal Enfield sales were down 7% to 63,387 units in the month of December as against 68,400 units in the preceding month. Read more: Here's the trade setup for today's session LIC The company has received communication/demand order for collection of GST along with interest and penalty for Maharashtra state. TVS Motor TVS Motor recorded monthly sales of 301,898 units in December 2023 with a growth of 25% as against 242,012 units in the month of December 2022. G R Infraprojects G R Infraprojects has been emerged as successful bidder and has received Letter of Intent for «Transmission system for Evacuation of Power from RE Projects in Rajgarh (1000 MW) SEZ in Madhya Pradesh- Phase II» through Tariff Based Competitive Bidding Process (TBCB). APL Apollo Tubes APL Apollo Tubes registered a sales volume of 6,03,659 ton in Q3FY24 compared to 6,05,049 Ton in Q3FY23 and 6,74,761 Ton in Q2FY24. Dhanlaxmi Bank Dhanlaxmi Bank's gross advance came in at Rs 10,350 crore for the quarter ended December, up 11% year-on-year.

SJVN Ltd on Monday said it has received the finance ministry's permission to form four joint venture firms for the development of hydro and renewable projects with a total capacity of 8,778 MW in India and Nepal. SJVN will be the leading partner in three joint venture companies, whereas SJVN's wholly-owned subsidiary SJVN Green Energy Ltd (SGEL) will be the leading partner in the fourth JV, a company statement said. According to the statement, the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India has agreed to the proposal of SJVN and Ministry of Power to form four joint venture (JV) companies for the development of Hydro and Renewable Projects in India and Nepal.

Supreme Court has posted for hearing on January 24 a curative petition filed by the Maharashtra government challenging its May 5, 2021 judgment, which had held the Maratha reservation law unconstitutional. The curative petition is the last chance available to the people or parties in the case after the review petition is dismissed or has been exhausted. On May 5, 2021, the Supreme Court had struck down reservations for the Maratha community in colleges, higher educational institutions, and jobs, after noting that there was no valid ground to breach 50 per cent reservation while granting Maratha reservation. Challenging the May 5 verdict, the Maharashtra government had filed a review petition, which was also dismissed by the top court on June 23, 2021. Thereafter, it filed the curative petition. While rejecting the review plea, it had held, in a majority view, that the Centre alone was empowered to identify socially and educationally backward classes (SEBC) to include them in the Central List for claiming reservation benefits. The top court had also refused to revisit its 1992 Indira Sawhney verdict which fixed the ceiling limit for reservation at 50 per cent. The apex court had struck down the findings of the Justice NG Gaikwad Commission which led to the enactment of the Maratha quota law and set aside the Bombay High Court verdict which had validated the Maharashtra State Reservation for Socially and Educationally Backward Classes (SEBC) Act of 2018. The High Court had, in June 2019, reduced the quantum of reservation for Marathas from the 16 per cent recommended by the Gaikwad Commission to 12 per cent in education and 13 per cent in employment.

Jarange-Patil withdrew his indefinite strike in the second phase after setting the December 24 deadline for the government to take a decision on the Maratha reservation. The Maratha community agitation gained momentum after Jarange sat on an indefinite hunger strike on October 25.

Vaishnaw, Smriti Irani and Hardeep Singh Puri as well as Maharashtra Chief Minister Eknath Shinde and Karnataka Chief Minister Siddaramaiah are likely to visit the snow-laden picturesque Swiss resort town Davos next month for the World Economic Forum's Annual Meeting. RBI Governor Shaktikanta Das, India's G20 Sherpa Amitabh Kant and some ministers from Tamil Nadu, Uttar Pradesh and Telangana may also be in Davos for the annual gathering of rich and powerful from across the world.

Olectra Greentech. The stock, which was trading at ₹497 per share at the start of the year (2023), has witnessed an astounding surge of 141% to trade at the current level of ₹1,196.

Nucleus Software Exports stood as the top gainer during the week, with a gain of over 29%. The stock picked up steam on October 05 after the company said that Mahindra Rural Housing Finance, a subsidiary of Mahindra & Mahindra Financial Services Limited, implemented its software FinnOne Neo for their retail and mortgage lending operation. After this announcement, the stock experienced a one-way rally, hitting a new all-time high of ₹1,521 apiece in Friday's session and rallying 50% to date.

Maharashtra government on Thursday allowed its offices to carry out transactions with the Maharashtra State Cooperative Bank, a statement said. The cabinet headed by Chief Minister Eknath Shinde also approved investments to be done by state government PSUs (public sector undertakings) in the bank.