Top Indian Metal & Energy Industry News & Updates - 13 April 2024,Saturday

Govt. Policy / Industry

India has USD 78 bn opportunity for green hydrogen electrolyzers by 2050: Report
New Delhi: India has USD 78 billion green hydrogen electrolyser potential by 2050, up from USD 4 billion in 2030, according to a latest report titled ‘Green Hydrogen for Decarbonizing Asia’s Industrial Giants’ by the Asia Society Policy Institute.
📝  Govt sets coal production target of 170 million tonnes for FY25
📝  ‘With demand changing, peak oil can happen soon. Some Indian steel and cement companies are leading the field in reducing emissions’
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Iron & Steel

📝  Indian Railways awards big steel procurement orders for Rs 1,586 crore; Tata, SAIL, Jindal among top 5 companies to bag contracts
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Gold / Silver & Bullion

Gold price climbs Rs 10 to Rs 73,320, silver rises Rs 100 to Rs 86,600
The price of 22-carat gold also rose Rs 10 with the yellow metal selling at Rs 67,210.
 
Gold demand may slip 15% during Akshaya Tritiya as prices soar
 
Jewellery retailers fear a lacklustre Akshaya Tritiya this year due to soaring gold prices
Jewellery retailers fear a lacklustre Akshaya Tritiya this year due to soaring gold prices. Around 15-20 percent volume de-growth is expected for gold jewellery sales this time as compared with last year.
📝  Gold gets more lustre, nudges Rs 73,000 with 10.75% price rise in a month
📝  Price surge dampens demand for jewellery: Senco Gold
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Other Metals

New tech could boost Hindustan Zinc's metal recovery rate to 98.5%: CEO
Mumbai: Hindustan Zinc is set to implement a new technology in partnership with Bhopal-based VEXL Environ Projects Pvt Ltd to increase its metal recovery rate and generate zero waste in its operations.
📝  Hindustan Zinc, VEXL Environ Projects sign pact to set up pilot project for waste management
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Oil & Gas / OMCs

Oil’s rise complicates global war on inflation
Oil’s on the boil, and India’s finances wouldn’t look that pretty if fuel-stoked inflation rearers its ugly head. A Morgan Stanley study showed if global crude oil prices rise to USD 110-120 a barrel in the next 3-4 months due to supply or geopolitical concerns, India’s inflation fight could stretch.
📝  Tata ropes in Shell to set up EV charging stations across India
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Coal / Mining

India’s 11.3 GW of coal-fired capacity launched in 2023 is highest since 2016
New Delhi: India, which maintains the world’s second largest operating coal-fired capacity, announced 11.3 gigawatts (GW) of new thermal power plants (TPPs) running on dry fuel — the highest in the last seven years. According to the Boom and Bust Coal 2024 report by the Global Energy Monitor (GEM), the world’s second largest coal consumer, which accounts for more than a tenth of the world’s operating coal based capacity, added 5 GW of coal-fired power units last year, compared to 2 GW in 2022.
Govt sets coal production target of producing 170 million tonnes for FY25
In FY24, captive and commercial coal blocks produced 147.12 million tonnes (MT) of dry fuel, 26 per cent higher from 116 MT produced in FY23.
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Renewable Energy

Essar Power appoints Ankur Kumar as CEO of Renewables Business division
Essar Power Limited has announced the appointment of Ankur Kumar as the Chief Executive Officer (CEO) of its Renewables Business division.
Happiest Minds partners with Enercon for wind energy solutions, shares rise
Happiest Minds Technologies Ltd’s shares were up by 1.12 per cent after the company announced a collaboration with ENERCON, a wind energy technology company, to drive sustainable wind energy solutions. Happiest Minds will serve as a long-term development partner for ENERCON’s onshore wind energy expansion efforts.
📝  How a remote airstrip, a km away from Pakistan border, will help Adani to build world's largest renewable energy park, bigger than Paris
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International

📝  China's oil majors face uphill climb to adapt to EV future
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Economy

India's March retail inflation eases to five-month low
 
📝   Rupee falls seven paise to 83.38 against U.S. dollar in early trade
📝   Markets decline in early trade after record-breaking rally
📝   India's GDP to grow 6.1% in 2024: Moody's Analytics
📝  Forex reserves hit $649 billion high
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