Ambani and Adani unite: Reliance acquires 26% stake in Adani’s power project
New Delhi: In the first collaboration between rival billionaires, Mukesh Ambani’s Reliance Industries has picked up a 26 per cent stake in Gautam Adani’s Madhya Pradesh power project and signed a pact to use the plants’ 500 MW of electricity for captive use.

RIL’s stake in Adani Power arm is dictated by commercial compulsions
“Its a commercial agreement and it is as per regulations...do not read anything more into the transaction,” a senior official at Reliance Industries told businessline on the Mukesh Ambani-controlled conglomerate buying a 26 per cent stake in Adani Power’s thermal power arm Mahan Energen.

Tata Steel to invest up to Rs 6,600 crore in equity of Neelachal Ispat Nigam
 

Gold price jumps ₹11,000 per 10 gm in six months. Experts predict ₹75,000 level in FY25
Gold rate today: On account of three US Fed rate cut buzz in 2024, gold price finished on an exceptionally positive note in the last session of FY24. Ahead of the end of FY24, the gold futures contract on the Multi Commodity Exchange (MCX) for April 2024 expiry ended at ₹67,800 per 10 gm level after climbing to a new lifetime peak of ₹67,850 per 10 gm. While finishing at the ₹67,800 level, MCX gold rate registered around ₹11,000 per 10 gm rise in the last two-quarters of the current fiscal. Spot gold price finished at the $2,254 per ounce mark on the last trade session of FY24.

Retaining sheen: Gold, silver may continue to sparkle next financial year

In the international market, gold price returned over 13.2 per cent and silver was marginally up 3.6 per cent.

Gold glitters: Jewellers bet big on Gudi Padwa, Akshay Tritya and wedding season to drive demand despite rising prices
Gold prices in India continued to sparkle throughout the fiscal year 2023-2024, propelled by escalating geopolitical tensions globally. The yellow metal exhibited significant volatility, primarily influenced by decelerating growth in advanced economies and the monetary tightening policies pursued by global central banks in response to elevated inflation levels.

Strategic pivot: CIL plans dedicated team for critical minerals pursuit
New Delhi: State-run Coal India Ltd (CIL) plans to establish a dedicated team, headed by the director of business development, to spearhead its search for lithium and other critical minerals worldwide, including in India, according to people in the know.

AMPIN Energy Transition secures EUR 25 million investment from OeEB for renewable energy expansion
The investment is to support AMPIN Energy Transition in further expanding its renewable energy portfolio and establishing a local 1GW solar cell and module production facility in the state of Odisha, AMPIN said.

RE capacity picks up after initial hiccup, thermal pace below target
The financial year 2023-24 saw many reforms in the electricity sector with a major emphasis given on the extensive addition of renewable capacity and enhancing the energy storage systems.

Govt reimposes ALMM order on solar PV modules from April 1
New Delhi: The Ministry of New and Renewable Energy (MNRE) on Friday said that it has re-imposed the Approved List of Models and Manufacturers (ALMM) order for solar photovoltaic (PV) modules from April 1, 2024.

Rajasthan leads India’s green energy shift; Gujarat close on heels