Indian Metal & Energy Industry News & Updates - November 2024
IREDA debuts at 56% premium, closes 87% higher
Mumbai: Shares of state-owned green energy financier, Indian Renewable Energy Development Authority (IREDA), were locked in the upper circuit, or their daily permissible limit, on the stock-market debut Wednesday, mirroring the broader optimism that propelled the biggest benchmark index to reclaim 20,000 levels after nearly two months and underscoring undiminished investor appetite for new offerings anchored in sustainable growth.
Adani Power to blend green ammonia with coal to run 330-MW boiler at Mundra plant to cut carbon emission
New Delhi: As part of decarbonisation efforts, Adani Power Ltd (APL) on Wednesday said it will use green ammonia along with conventional fuel coal to run the boiler of 330 MW at its Mundra plant in Gujarat. The quantum of green ammonia will be up to 20 per cent of the total fuel requirement, the company said in a statement.
Gold rallies Rs 750 to record high of Rs 63,500; silver zooms Rs 800
Gold price rallied Rs 750 to Rs 63,500 per 10 grams in the national capital on Wednesday amid strong global trends, according to HDFC Securities. In the previous trade, the precious metal had closed at Rs 62,750 per 10 grams.
Why rising imports of gold should be watched
India has historically been a gold-loving nation, though there’s been some tempering of those tendencies. In 2010, India accounted for 30% of the world’s gold demand, according to the industry body World Gold Council. Since then, India’s gold demand has dropped even in absolute terms, and its global share fell to 23% in 2022. This has helped India on key fiscal management metrics. But in October, gold imports spurted at a rate that, if it continues, could undo some of the previous gains from the drop in gold demand.
India on path to triple renewable energy capacity by 2030 but faces financing hurdle: Report
New Delhi: India's 14th National Electricity Plan (NEP) sets it on a path to more than triple its renewable energy capacity by 2030, but the country needs a whopping USD 293 billion to achieve this, according to a report released by global energy think tank Ember on Wednesday. The International Energy Agency (IEA) says the world must triple its renewable energy capacity and double energy efficiency by 2030 to decrease the need for fossil fuels and limit global warming to 1.5 degrees Celsius by the end of the century.
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