JSW Energy appoints Sharad Mahendra as Joint MD and CEO Designate with effect from December 1
The JSW Energy board in a regulatory filing announced that the company has appointed Sharad Mahendra as a Whole-time Director (Joint Managing Director & CEO– Designate) with effect from December 1, 2023.

Gujarat focuses on green hydrogen ahead of Vibrant Gujarat Global Summit 2024
On the tenth episode of Vibrant Gujarat Global Summit (VGGS), a key area of focus has been the Green Hydrogen and Green Energy Sector across the VGGS Roadshows and Delegation Visits.

PM Modi launches initiative focusing on generating Green Credits through plantation on degraded wasteland
Dubai: Prime Minister Narendra Modi on Friday launched an initiative focusing on generating Green Credits through plantation on degraded wasteland. During a high-level event at the ongoing climate talks or COP28 in Dubai, he highlighted that the Green Credits Initiative surpasses the commercial nature of carbon credits.

Centre pushes quality control on copper, nickel, and aluminium ahead by six months

The centre has deferred the enforcement of quality control orders (QCO) on nickel, copper, and aluminium by six months. The initial date for quality control orders to kick in was December 1, 2023. It has now been pushed ahead to June 1, 2024. QCO curbs are put in place to prevent substandard import and sale of products. A call on imposing these regulations was taken on August 31 this year.

HUL to partner Brookfield for Green Energy to meet Net Zero commitment

Hindustan Unilever Limited (HUL) today announced a strategic partnership with Brookfield to set up a solar energy park with 45 MW capacity in Rajasthan. This will help HUL in its journey towards net zero. The project will be developed at the site of Brookfield’s solar park, being undertaken as a part of Brookfield Global Transition Fund.

Tata Steel completes merger of S & T Mining Company with itself
Tata Steel on Friday said it has completed the merger of S & T Mining Company Ltd with itself. The scheme of amalgamation of S & T Mining Company Ltd ('S&T Mining') into and with Tata Steel Ltd was approved and sanctioned by National Company Law Tribunal (NCLT) Kolkata vide order dated November 10, 2023, according to a filing.

NMDC’s Nov. output rises 6%, sales jump 24%
 

Kerala Gem and Jewellery show begins in Kochi
Kochi: The sixteenth edition of the Kerala Gem and Jewellery Show, ‘KGJS 2023,’ has commenced at the Adlux International Convention and Exhibition Centre in Angamaly. Jewellery manufacturers, jewels artisans, leading designers, technology service providers, wholesalers, and retail jewellers across the country have lined up for the State’s biggest one stop Jeweller B2B trade exhibition. T S Kalyanaraman, Chairman and Managing Director of Kalyan Jewellers and Joy Alukkas, Chairman of Joy Alukkas Jewellers inaugurated the trade fair. M.P. Ahammed, Chairman, Malabar Gold and Diamonds, B. Govindhan, Chairman, Bhima Jewellery and A V Jose, Chairman Jos Alukkas were the chief guests.

Gold rises Rs 100; silver jumps Rs 500
Gold prices rose Rs 100 to Rs 63,300 per 10 grams in the national capital on Friday amid gains in precious metal price globally, according to HDFC Securities. The yellow metal had closed at Rs 63,200 per 10 grams in the previous trade.

Petrol, diesel price revision only when oil price stabilises below USD 80
This is despite the raw material (crude oil) cost surging last year, leading to heavy losses in the first half of 2022-23 fiscal year before easing rates propelled them to profitability.

Centre lowers windfall tax on crude to INR 5,000/tonne from INR 6,300/tonne
The Indian government on Thursday lowered the windfall gains tax on crude oil to INR 5,000 per tonne from INR 6,300 per tonne. The tax rates are reviewed every fortnight based on average oil prices in the previous two weeks, with the Centre slashing it from INR 9,800 per tonne to INR 6,300 per tonne two weeks ago, on November 16.

GAIL seeks USD 1.8 bn from former Gazprom unit
State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for "non-supply of LNG cargoes under long-term contract."

India's oil imports from Russia rebound in November: Data
India's Russian oil imports rebounded in November after several plants came back online from planned maintenance and as fuel consumption rose during the Diwali festive season, preliminary data from ship-tracking firms Kpler and Vortexa showed.

Civic body’s bio-CNG plant to start work by early 2024
Bhopal: Civic body officials interacted with a team from Global Environmental Facility (GEF) and United Nations Industrial Development Organization (UNIDO) on Thursday.

Russian crude oil imports to India fall 4% in November

India's imports of Russian crude oil fell 4% sequentially in November to 1.49 million barrels a day amid a broader decline in crude imports by New Delhi, according to energy cargo tracker Vortexa. Imports of Russian crude is expected to fall further in December.

Indian Oil board gives nod for 4,000 fast EV chargers, revised cost of Panipat refinery expansion
 

Commercial LPG prices hiked
 

Deeper OPEC+ output cut could hit fuel retailers, stoke inflation fears
The OPEC+ grouping’s decision on Thursday to cut production further could end up resuming pressure on the profitability of state-run fuel retailers, delay possible cuts in interest rates and test the government’s inflation management in the run-up to the general elections next year.

CIL's coal output rises 11.5% to 460 million tonnes during April-November
State-owned CIL on Friday said its coal production grew by 11.5 per cent to reach 460 million tonnes (MT) during the April-November period of the ongoing fiscal. CIL accounts for over 80 per cent of domestic coal output.

NTPC’s coal despatch grows 90% to 23.12 MMT in Nov, output rises 80%
New Delhi: NTPC Ltd has reported a substantial growth of 90 per cent in coal despatch from its captive mines till Nov-end in FY 2023-24, in comparison to the corresponding period of the previous year and achieved an impressive coal dispatch of 23.12 Million Metric Tonnes (MMT) till November 30 in FY24, compared to 12.17 MMT in FY2022-23. In addition, the company has also achieved a production of 22.08 MMT till November 30 in FY24, marking a significant 80 per cent increase over the previous year for the same period. This outstanding performance reflects NTPC’s relentless commitment to enhancing coal production from its captive mines and ensuring efficient supply to meet the nation’s energy needs.

India's power consumption grows 8.5% to 119.64 billion units in Nov
The country's power consumption grew nearly 8.5 per cent to 119.64 billion units (BU) in November, showing a surge in electricity demand due to festivities and increased economic activities. In the year-ago period, power consumption stood at 110.25 BU, higher than 99.32 billion units recorded in November 2021, according to the government data.

JSW Energy names Sharad Mahendra as next Joint MD & CEO
JSW Energy on Friday announced that Sharad Mahendra will be replacing Prashant Jain as a joint managing director and chief executive office.

Tata Power Renewable Energy adds 1.4 GW in group captive projects in last 6 months
Tata Power Renewable Energy Ltd (TPREL) on Monday said it has added 1.4 GW group captive projects to its portfolio in the last six months in India. With the addition of these group captive projects, TPREL said its overall renewables capacity reached 7,961 MW as of October 2023, a company statement said.

Freyr Energy unveils plan to install solar panels in 2,000 households in Kerala
Kochi: After providing rooftop solar solutions to homes and businesses in 27 states, Freyr Energy, is making headway in Kerala, with plans to install solar panels in 2,000 households in the coming year. Freyr Energy plans to encourage the use of solar power in Kerala dovetail with the Kerala State Electricity Board’s vision to install solar panels in 800 homes by the end of 2023. By the end of 2022, the Board had installed solar panels in 400 homes in the coastal state. 

HUL partners with Brookfield to set up solar energy Park

“Collaboration is key to achieving our net zero commitment. The proposed green energy partnership is a step in the right direction. I am sure this will pave the way for more such transformative partnerships that align with environmental and economic sustainability and will help stakeholders across the value chain,” said Rohit Jawa, CEO and MD of HUL. 

Rupee rises to settle at 83.30 against U.S. dollar
The rupee appreciated 7 paise to settle at 83.30 (provisional) against the U.S. dollar on Friday, following positive cues from equity markets and strong domestic macroeconomic data.

Nifty hits life-time high, Sensex jumps 493 points on favourable macro data
Key equity index Nifty hit its lifetime high while Sensex jumped 493 points to close at an 11-week high driven by favourable macroeconomic data and continuous foreign fund inflows.

India's forex reserves up by $2.54 bn to $597.94 bn for the week ending Nov 24
India's foreign exchange reserves increased by $2.54 billion to $597.94 billion for the week ending November 24, the latest data by the Reserve Bank of India (RBI) showed on Friday.