JSW Energy board okays raising INR 5,000 cr via QIPs
New Delhi: Sajjan Jindal led JSW Energy board on Tuesday approved raising of INR 5,000 crore through the issuance of equity on qualified institutional placement basis. The board has authorised the Finance Committee of the board to take all the necessary decisions in this regard, the company said in a BSE filing.

Jindal Stainless to divest entire 26 percent stake in Jindal Coke by September
Jindal Stainless on Wednesday said it aims to complete divestment of its entire 26 per cent stake in Jindal Coke by September this year.

Gold touches new peak of Rs 69,200 per 10 grams amid global market rally

This is the second time that yellow metal prices have hit an all-time high in this week. In the previous trade, the precious metal had closed at Rs 68,370 per 10 grams.

India’s Russian oil imports flow heavy despite tighter sanctions
Tightening sanctions from the United States (US) and other Western powers on Russia’s oil trade appear to have had no impact so far on India’s Russian oil purchases, with delivered volumes in March rising over 6 per cent over February levels to a four-month high of nearly 1.7 million barrels per day (bpd), accounting for a third of New Delhi’s total oil imports for the month, as per preliminary data from commodity market analytics firm Kpler.

India aims for first strategic petroleum reserve with a private company by 2029/30
India plans to build its first privately managed strategic petroleum reserve (SPR) by 2029-30, granting the operator the freedom to trade all of the stored oil, the chief executive of Indian Strategic Petroleum Reserves Ltd (ISPRL) said.

Crude oil’s climb towards USD 90 per barrel is a matter of anxiety for India, oil secretary Pankaj Jain says
Crude oil’s climb towards USD 90 per barrel is a matter of anxiety for India, oil secretary Pankaj Jain has said.
 

Oil Advances After OPEC Affirms Production Cuts Through June
Oil rose toward a five-month high after OPEC confirmed it would maintain its existing supply cuts through the end of June.

Coal production from captive and commercial mines at record high in FY24
The cumulative coal production from captive and commercial mines rose by a healthy 27 per cent y-o-y to hit a record 147.2 million tonnes (MT) in the last financial year, which concluded in March 2024.

Peak power demand. Govt defers maintenance of 10 GW thermal power capacity to July-September
The power ministry has deferred the planned maintenance of around 10 gigawatts (GW) thermal power capacity to the monsoon season, instead of April to June 2024, as it prepares a roadmap to meet peak power demand during summer. It is also exploring the option of restarting 5.2 GW of non-operational thermal power plants to meet electricity demand, which is growing at 6-7 per cent per annum. India’s peak power demand is expected to hit 260 GW in FY24 from 240 GW in FY23 (September).

Power Minister RK Singh on Tuesday reviewed the ministry’s preparations for peak summer.

Aiming to double growth in next 3 years: Luminous Power CEO
Luminous Power, a wholly-owned subsidiary of French engineering company Schneider Electric, plans to expand its international footprint while doubling its domestic business with focus on the solar segment in the next three years, CEO and MD Preeti Bajaj told FE.

Gensol Engineering revenue rises 141% to INR 960 crore in FY24
Gensol Engineering on Wednesday said it has recorded the highest-ever revenue of INR 960 crores in FY24 with a growth of 141% Year on Year (YoY). The corresponding (revenue) figure for the previous year was at INR 398 crore, a company statement said.

FY24 Business Update: Gensol Engineering posts FY24 revenue at Rs 960 crore, up 141% YoY
Gensol Engineering Limited on Wednesday announced that it has recorded its highest ever revenue from operations, surpassing Rs 960 crore in the financial year ending on March 31, 2024. This, it said, represents a growth rate of 141 per cent as compared to the previous financial year. The corresponding figure for the previous year was at Rs 398 crore. “Gensol’s exceptional performance emphasises its position as a frontrunner in the industry, demonstrating its ability to capitalise on emerging opportunities and deliver value to its stakeholders,” the company said in a regulatory filing. 

Adani Green Energy becomes India’s first to surpass 10,000 MW renewable energy; Gautam Adani says proud to be India’s first ‘das hazari’
Adani Green Energy Limited (AGEL) on Wednesday announced that it has surpassed 10,000 megawatts (MW) of operational portfolio, delivering reliable, affordable, and clean power to the national grid. AGEL’s operational portfolio consists of 7,393 MW solar, 1,401 MW wind and 2,140 MW wind-solar hybrid capacity. “The milestone is a testament to AGEL and its development partners firmly moving towards the goal of 45,000 GW renewable energy by 2030,” the company said in a regulatory filing. 

NLC India planning to sell renewable assets worth estimated $720 Million