Domestic non-ferrous metal to post stable earnings in FY25, demand growth to remain healthy at ~10%, says ICRA
The domestic non-ferrous metal industry would post a stable earnings in FY2025, considering steady movement in realisations and an easing of input cost pressure to an extent, said a report by ICRA. The domestic demand growth, it added, is expected to remain healthy at ~10 per cent in FY2025 and would significantly outpace the expected growth of ~2 per cent in global demand. The operating margin of domestic players is also likely to remain stable at 17-17.5 per cent in FY2025, similar to the levels estimated in FY2024. As a result, ICRA maintains a Stable outlook on the sector.

REC board approves overall borrowing of Rs 1.6 trillion for 2024-25

The board in its meeting held on Wednesday approved a borrowing limit of Rs 1.6 lakh crore, including Rs 1,45,000 bonds and term loans, Rs 5000 crore of short-term loans and Rs 10,000 crore of commercial papers, REC said in a filing.

Copper hits 2-week low as market awaits clarity on smelter cuts
Copper prices retreated to a two-week low on Wednesday as investors awaited further detail on plans by Chinese smelters to cut production. Three-month copper on the LME was down 0.7 per cent at $8,804 a tonne in official rings. LME copper soared to an 11-month high of $9,164.50 on March 18 after top Chinese smelters announced plans for joint production cuts but did not provide detail on the extent or timing of any suspensions. The smelters will have another meeting on Thursday March 28 on plans to bring forward maintenances and reduce loss-making capacity in the face of a shortage of copper concentrates, industry sources said.

Gold price climbs Rs 10 to Rs 66,940, silver falls Rs 100 to Rs 77,100
The price of 24-carat gold saw an uptick of Rs 10 in early trade on Thursday, with ten grams of the precious metal trading at Rs 66,940, according to the GoodReturns website. The price of silver rose Rs 100, with one kilogram of the precious metal selling at Rs 77,100.

PN Gadgil Jewellers files DRHP with SEBI to raise ₹1,100 crore via IPO; check details
Leading jeweller PN Gadgil Jewellers Ltd has filed its preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise almost ₹1,100 crore through an initial public offering (IPO). 

Tata Motors, Hindustan Petroleum partner to optimize EV charging infrastructure
Tata Passenger Electric Mobility (TPEM) has signed an MOU with Hindustan Petroleum Corporation to collaborate in establishing public charging stations across India. The collaboration will leverage HPCL’s widespread fuel station network and TPEM’s insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners. Additionally, HPCL will gather insights on charger usage to improve the customer experience.

Tata Motors unit, HPCL partner to install 5,000 EV charging stations

The collaboration will leverage Hindustan Petroleum Corporation Ltd (HPCL's) fuel station network and company's insights from over 1.2 lakh Tata EVs on Indian roads, to set up chargers at locations frequently visited by Tata EV owners, Tata Passenger Electric Mobility (TPEM), a unit of Tata Motors, said in a statement.

NTPC ties up $200-mn loan with Japan Bank for International Co-operation
The loan facility of around ₹1,650 crore extended by the Japanese Government’s policy-based financial institution, is divided into two equal halves for NTPC and its clean energy solutions arm NTPC Renewables Energy (NREL), the Maharatna said in a statement late on Tuesday night. “JBIC has provided 60 per cent of the facility amount and the balance of the facility amount has been provided by other commercial banks under JBIC guarantee,” it added.

Reliance Power’s two subsidiaries settle Rs 1,023-crore debt
Reliance Power on Wednesday said its two subsidiaries have settled debt worth Rs 1,023 crore with Authum Investment’s arm Reliance Commercial Finance. Reliance Power Ltd’s two subsidiaries — Kalai Power Pvt Ltd and Reliance Cleangen Ltd, have signed a debt settlement and discharge agreement with Reliance Commercial Finance Ltd (RCFL), a wholly-owned subsidiary of Authum Investment & Infrastructure Limited, a regulatory filing said.

BHEL bags Rs 4,000 cr order for 1600 MW thermal project from Adani Power
Bhel gets Rs 4,000 crore order for 1600 MW thermal project from Adani Power

NHPC board approves proposal for raising Rs 6,100 cr funds through NCDs

The Board of Directors of NHPC in its meeting held on Wednesday considered and approved the proposal for raising of debt up to Rs 6,100 crore during 2024-25 through non-convertible Corporate Bonds in one or more tranches on private placement basis, term loans or external commercial borrowing in tranches, a BSE filing said.

Sterlite Power, GIC set up JV for transmission projects
Sterlite Power, part of the Vedanta Group, has formed a joint venture with Singapore’s sovereign fund GIC to set up and operate power transmission projects in the country.

Thermal capacity addition gains pace in FY24 amid high power demand projections
New Delhi: Despite ambitious net-zero targets and an ongoing energy transition, India’s coal production continues to meet its growing electricity demand. The country recorded a multifold rise in its thermal capacity addition so far in FY24 (April-February) to 5.75 GW compared to just 450 MW a year ago, according to data from the Central Electricity Authority (CEA).

Gensol Engineering appoints Kapil K Nirmal as CEO for Middle East, Solar EPC business
Gensol Engineering Limited on Wednesday announced that it has appointed Kapil K Nirmal as CEO of Gensol Engineering Limited, Middle East to lead its Solar EPC business operations in the region. 

Adani Green Energy operationalizes 180 MW solar power plant in Rajasthan
Adani Green Energy Limited (AGEL) on Wednesday announced that it has commissioned a 180 MW solar power plant at Devikot in Jaisalmer, Rajasthan. The plant has a 25-year power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI), it stated.