Core sector growth continues to sizzle at robust 7.8% in November
The eight core industries’ output growth subsided to a six-month low of 7.8 per cent. Despite this moderation, it has significantly outperformed the 5.7 per cent growth seen during the same month in the previous fiscal year. 

TCIL to invest over Rs 1,785 cr for setting up manufacturing facility in Jamshedpur
Ranchi: The Tinplate Company of India Ltd (TCIL), a unit of Tata Steel, on Friday said it will invest Rs 1,787 crore for setting up a 3-lakh-tonnes-per-annum manufacturing facility in Jharkhand's Jamshedpur. The facility, an expansion project, is scheduled for commissioning in 2026, and is likely to generate about 600 direct and indirect employment opportunities, TCIL said.

AM/NS India signs ₹16,000-cr investment deal with Gujarat govt
Ahmedabad: Steel-manufacturer ArcelorMittal Nippon Steel India Ltd (AM/NS India) has signed Memorandum of Understanding worth ₹16,000 crore with the Gujarat government. The agreements include an investment for the construction of a ship-building and repair facility at Surat.

Gold price dips Rs 380 to Rs 63,870, silver falls Rs 1,200 to Rs 78,300
The price of 22-carat gold declined Rs 350, with the yellow metal selling at Rs 58,550.
 

Gem, jewellery exports dip by 4.52 pc in Nov to Rs 19,018 cr: GJEPC
The overall gem and jewellery exports witnessed a on-year decline of 4.52 per cent in November to Rs 19,018.180 crore (USD 2,263.34 million), GJEPC said on Friday. Exports stood at Rs 19,917.73 crore (USD 2437.53 million) during November 2022, according to the data by the Gem and Jewellery Export Promotion Council (GJEPC).

India, Hong Kong bust money laundering racket via diamond trade
The customs departments of India and Hong Kong have jointly busted a money-laundering network, where foreign currency was remitted out of India against import of cheap synthetic diamonds, the finance ministry said on Friday.

Yellow metal eases from 3-week high, silver declines Rs 660 per kg

Gold prices declined marginally in the last trading session of 2023. Despite a slight dip, gold prices clocked their best year in three, as expectations regarding US interest rate cuts early next year and the war in Ukraine and tensions in the Middle East lifted safe-haven demand.

Fuel price cuts may be moderate, impact on OMC margins minimal
Shares of the three state-owned oil marketing companies fell by up to 4% on Friday following reports of a likely cut in the retail prices of petrol and diesel ahead of the general elections scheduled next year. However, analysts believe that any price cut won’t be sharp enough to seriously impact the profitability of these firms, whose earnings have been robust in the last two quarters.

Petrol price, diesel price may see big drop in India soon. Here are the details
Petrol and diesel prices in the country may see a big drop soon in the run up to the 2024 Lok Sabha elections which will take place across the country in the months of April and May of 2024. It has been reported that the final nod for a price cut in petrol and diesel is awaited from the Union Finance Ministry.

Oil prices slide as Red Sea transport disruptions ease
Oil prices fell more than 1% on Thursday as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester.

PNGRB sets up high-level committee for oil and gas safety overhaul
New Delhi: The Petroleum and Natural Gas Regulatory Board (PNGRB) has formed a high-level expert committee to reassess and fortify the safety and integrity framework governing India's burgeoning oil and gas sector.

Going Green. Oil & gas sector steps up on clean energy transition in 2023
New Delhi: Even as India was busy during 2023 securing the critical crude oil and natural gas supplies amidst an international market riled by sanctions and geopolitical conflicts, the year was marked by the world’s third largest energy consumer’s efforts to accelerate its transition to cleaner fuels, particularly for the oil and gas sector.

OMCs hike procurement prices for ethanol
India's state fuel retailers have raised procurement prices for ethanol made from C-heavy molasses by INR 6.87/ per litre to 56.28 rupees per litre, according to industry sources and a document reviewed by Reuters on Friday.

Asian refiners face diesel supply glut in 2024
Diesel supply in Asia is set to jump in 2024 fueled by new refineries in the Middle East and robust exports from China, and is likely to outpace the region's world-leading demand growth, analysts and trade sources said.

Risk of oil price spike impacting FY25 growth is low: CEA V Anantha Nageswaran
"Therefore, I do not think energy demand will necessarily become sufficient enough to see oil prices spike up in 2024. Geopolitical situation and what is happening to cargo movements in the Red Sea are relevant factors, but not serious enough to slow demand massively. My view is that if oil prices rise, they will further cool down economic activities," Nageswaran said.

New Year bonanza! Centre may reduce petrol, diesel prices by this much, check latest fuel rates of your city
Prepare for a massive New Year's bonus. Prime Minister Narendra Modi is working on significant price reductions for petrol and diesel that might be announced before the end of the year, with the general elections scheduled for the first half of 2024. These reductions could amount to as much as Rs 10 per litre.

As many as 76 mineral blocks auctioned in 2023: Govt
The government on Friday said that as many as 76 mineral blocks have been auctioned in the current year. Of the 76 mineral blocks, 30 mineral blocks were auctioned for mining lease and the remaining 46 were sold as a composite licence.

Power Mech bags orders worth Rs 2,192.41 crore
Power Mech Projects Ltd on Friday announced that it has bagged orders worth Rs 2,192.41 crore for revival & operations and maintenance (O&M) services, and mining of river bed minerals (RBM). 

Techno Electric & Engineering Company gets smart metering and transmission projects worth Rs 1,750 crore
Techno Electric & Engineering Company on Friday said it bagged new orders related to smart metering and transmission projects worth Rs 1,750 crore.

Torrent Power incorporates wholly-owned subsidiary Torrent Green Hydrogen
New Delhi: Torrent Power on Friday announced the incorporation of its wholly-owned subsidiary Torrent Green Hydrogen Private Limited. In a regulatory filing, the company said Torrent Green Hydrogen Private Limited (TGHPL) was incorporated to carry on the business of manufacture, assemble, purchase, purify, store, transport, experiment with, the supply, trade and generally deal in hydrogen, its byproducts and/or its derivatives like ammonia, chemicals, compressed natural gas and mineral substances.

Power Mech Projects bags orders worth Rs 2,192.41 cr
New Delhi: Power Mech Projects has bagged orders worth Rs 2,192.41 crore for revival, operations and maintenance (O&M) services at coal fired power plant and mining of river bed mineral. The company has bagged an contract for revival and operations and maintenance (O&M) services at coal fired power plant consisting of 2x150 MW (Phase-1) and 2x350 MW (Phase-2) Sub-Critical Units located at Thamminapatnam, in Tirupati district of Andhra Pradesh from Meenakshi Energy Ltd for Rs 674.81 crore, it said in a regulatory filing.

‘Developing grid infra a key challenge for energy transition’
French engineering and technology company Technip Energies, which focuses on energy transition, recently tied up with IIT Madras for energy research, including on decarbonisation and other areas. Chief executive officer Arnaud Pieton talks to Raghavendra Kamath about the company’s plans and energy transition issues in the country.

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Trust investment-led investors put ₹975 cr in GI hydro bonds

Mumbai: GI Hydro, a hydro power generating company formerly known as Gati Infrastructure, has raised ₹975-crore debt by issuing bonds to investors including alternate investment fund Trust Investment Advisors and global asset manager Allianz Global Investors, people aware of the matter said.

Swan Energy gets board nod to raise Rs 4,000 crore
Swan Energy's board has approved raising Rs 4,000 crore through the issuance of equity shares or any other eligible securities.

SJVN secures Rs 10,000 cr construction finance facility from banks
State-owned SJVN Ltd has secured Rs 10,000 crore construction finance facility to fund its upcoming renewable energy projects from a group of leading domestic and international lenders. The construction finance facility is a unique and first-of-its-kind transaction undertaken by a PSU entity and Public Sector Banks, a company statement said on Friday.

Jindal Stainless to generate over 1.9 bn units of clean energy
New Delhi: Jindal Stainless on Thursday said it will generate over 1.9 billion units of clean electricity per year through its green energy initiatives. The initiatives have the potential to reduce carbon emissions by over 13.52 lakh tonnes per annum.

BSES plans to energise over 1,000 rooftop solar installations in 2024-25
New Delhi, Electricity provider BSES has energised 6,000 rooftop solar installations so far and the discom plans to energise over 1,000 more connections in the 2024-25 financial year, officials said on Friday. The highest number of rooftop solar connections are in the domestic segment (3,650), followed by commercial (1,087), educational (939), industrial (85) and others (129), they said.

Solar manufacturer Waaree Energies files DRHP for Rs 3,000 cr IPO
Mumbai-based Waaree Energies filed its Draft Red Herring Prospectus (DRHP) with the Securities Exchange Board of India (Sebi) on Friday. It is currently one of the largest solar module manufacturers.  
 

Gas prices to fall in 2024; Americans likely to save USD 32 bn on fuel: Experts
Gas prices across the US are projected to fall in the new year in 2024 for the second successive year resulting in a net saving of about USD 32 billion on fuel costs for the Americans.

LME aluminium, nickel inventories hit fresh highs
Aluminium and nickel inventories in London Metal Exchange (LME) registered warehouses jumped to fresh highs this week after more inflows, LME data showed, highlighting excess supply.

Indian economy to comfortably exceed 6.5 per cent GDP growth rate for FY24, says FinMin
The finance ministry expects the Indian economy's GDP growth rate in 2023-24 to "comfortably" exceed its forecast of 6.5 per cent following the blockbuster data for July-September.

India will become USD 5 trillion economy in 2-2.5 years: Piyush Goyal
Commerce and Industry Minister Piyush Goyal has said that in the next two and a half years, India will become a USD 5 trillion economy while addressing media persons at the launch of the E-Commerce Export Handbook for MSMEs at an event in New Delhi.

India's economy is on stable high growth path backed by stronger banks: RBI
Amidst a challenging global macroeconomic environment, the Indian economy is exhibiting "a quickening growth momentum," with resilience and financial stability, according to the RBI's Financial Stability report released on Thursday.

Rupee rises 6 paise to 83.14 against U.S. dollar in early trade
 

Sensex, Nifty fall in early trade after five days of sharp rally
 

India's economic growth sparks optimism as corporates anticipate profit surge: Fitch Ratings