Top Indian Metal & Energy Industry News & Updates - 20 April 2024,Saturday
Govt. Policy / Industry
Govt outlay of INR 200 cr for green hydrogen hubs insufficient: Experts
New Delhi: The government has missed out on providing a clear framework for identification of green hydrogen hubs and strategic aspects in its scheme guidelines for setting up of green hydrogen hubs under the National Green Hydrogen Mission issued last month, according to industry experts.
📝 Oil Min Hardeep Singh Puri discusses 'volatility in global market' with OPEC chief
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Gold / Silver & Bullion
Gold price climbs Rs 10 to Rs 74,350, silver dips Rs 100 to Rs 86,400
The price of 22-carat gold also rose Rs 10, with the yellow metal selling at Rs 68,160.
📝 Gold jumps Rs 400 to breach Rs 74k mark, silver hits fresh peak
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Other Metals
Hindustan Zinc re-engaging with govt to get modified demerger proposals cleared: Arun Misra
New Delhi: Vedanta-owned Hindustan Zinc has come up with re-worked demerger plans. It will now look to have two companies — one for zinc and lead and the second for silver — against the previous plans to have three demerged entities.
Hindustan Zinc Q4 net profit down 21% on lower zinc prices; Here are all other details
Hindustan Zinc, a Vedanta group firm, reported a Q4 net profit of Rs 2,040, down 21% YoY from Rs 2583 crore in Q4 FY23. Sequentially, the net profit grew 0.5% to Rs 2,038 crore in Q4 from Rs 2,028 in the previous quarter.
Zinc prices likely to come under pressure on excess supplies
Chennai: Zinc prices on the London Metal Exchange (LME) are currently ruling at a one-year high but slow global economic growth and excess supplies will likely drag the metal’s prices, analysts say.
📝 Offer-for-sale for Hindustan Zinc likely in three months, says CEO
📝 Hindustan Zinc Limited becomes world’s third-largest silver producer
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Oil & Gas / OMCs
Energy cos form alliance to promote UPI-like platform for EV users
New Delhi: Twenty energy companies have joined hands to form an alliance to create an open energy network, on lines of the united payment interface (UPI), to facilitate seamless payment and transaction interoperability within electric vehicle (EV) charging networks.
Charging network operators, energy co.s form Unified Energy Interface for interoperability
New Delhi: Charging network operators and energy companies have come together to create an Alliance for an open energy network called the Unified Energy Interface (UEI).
As sanctions return to Venezuela, OVL has a problem on its hands
New Delhi: The return of US sanctions to Venezuela after a six-month breather has thrown India's oil-for-dividends plan with the Latin American country into disarray, sending ONGC Videsh Ltd scrambling for new options to get the promised oil cargoes.
📝 Hindustan Petroleum to set up a global oil trading desk
📝 Exceeding target: Oil PSUs made a capex of ₹1.28 lakh cr in FY24
📝 Oil prices surge in global market amid escalating Iran-Israel tensions
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Coal / Mining
After Australia, Coal India eying critical minerals reserves in Chile
After successfully expanding its footprint in Australia, state-owned miner Coal India (CIL) is now exploring critical and rare earth minerals for mining in Chile.
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Renewable Energy
Surana Solar Q4 FY24 results : loss at ₹0.15Cr, Revenue decreased by 49.59% YoY
Surana Solar announced their Q4 FY24 results on 18 Apr, 2024, revealing a significant decline in revenue by 49.59% compared to the same period last year.
IREDA Q4 PAT up 33% YoY with rise in income
IREDA Q4 results 2024: Net profit climbs to all-time high on 44.83% YoY growth, NPA below 1%. Top 5 takeaways
mint
📝 ReNew Energy, JERA sign agreement to explore green ammonia project, eyeing 100,000 tonne annual output by 2030
📝 Inox Wind bags repeat order for 210 MW wind project from Hero Future Energies
📝 NTPC Green Energy inks pact with Indus Towers to develop renewable energy projects
📝 Amara Raja Infra bags 700 MWp solar project from Greenko
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International
UAE giant eyes majority stake in Vedanta's Zambian mines in expansion drive
The mining investment arm of Abu Dhabi's most valuable company has offered to buy a majority stake in Vedanta Resources' Zambian copper assets, two sources familiar with the matter told Reuters, in its drive to build an African copper mining empire.
📝 The wind is picking up, but only in China
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Economy
📝 Rupee rises 4 paise to close at 83.48 against U.S. dollar
📝 Stock markets stage strong rebound after four days of slump; Sensex rallies 599 points
📝 India’s forex reserves down $5.4 bn to come off all time record high
📝 Inflation remains main concern against rate cuts: RBI policy minutes
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