Top Indian Metal & Energy Industry News & Updates - 29 July 2024,Monday
Govt. Policy / Industry
Steel ministry bid to keep 'financially-stressed' Rashtriya Ispat Nigam Ltd afloat
📝 About 151 GW renewable capacity under implementation in India: Minister Pralhad Joshi
📝 Government scraps auction of 3 critical mineral blocks, including J&K lithium mine
📝 India steel production to cross 300MT by 2030: Official
📝 UP govt grants approval to 1200 megawatt pumped storage power plant project
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Iron & Steel
📝 Vizag Steel Plant misses payment, lenders look for cover
📝 Jai Corp's Virendra Jain, son acquire Kamachi Industries for ₹487 crore
📝 Chinese steel pressuring global steel market, India engaging with govt to ensure level playing field: JSW Steel's Jindal
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Gold / Silver & Bullion
Gold price slips Rs 10 to Rs 68,990, silver declines Rs 100 to Rs 84,400
The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 63,240.
📝 Buying gold overseas seen to lose lustre as duty cut push domestic sales
📝 Aditya Birla group forays into jewellery retail with 'Indriya'
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Other Metals
Hindustan Zinc eyes gains from hard-to-extract critical minerals
Hindustan Zinc Ltd is interested in critical minerals which are difficult to extract and have a low appearance, as it gives the company an advantage over others, chief executive officer Arun Misra said.
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Oil & Gas / OMCs
Older petroleum product pipeline tariff to rise 17% after PNGRB's new regulation
New Delhi: Tariffs for older petroleum product pipelines will increase 17% next month and rise 3.4% annually from next year to account for inflation and to ensure a reasonable return to operators, the Petroleum and Natural Gas Regulator Board (PNGRB) has said.
Petroleum product under GST not taken up since 45th GST Council, says MoS
He added that the GST Council in which all States and UTs are represented, has not made any recommendation for inclusion of these goods under GST.
GLIDA inaugurates largest EV charging hub in Hyderabad
GLIDA, a public EV Charge Point Operator (formerly known as Fortum Charge & Drive India), has announced the inauguration of its largest electric vehicle charging hub in Hyderabad with 102 charging points. The hub has one 200KW Ultrafast charger with 6 satellite dispensers, 28 60KW CCS2 dual gun DC chargers, 8 30KW CCS2 dual gun DC chargers, 20 Type-2 7.4KW AC chargers and 2 NDC001 dual gun chargers. At any point, 102 cars can be charged at this hub.
Ethanol used in petrol now more from maize, damaged foodgrains than sugar
Cereal grains have overtaken sugarcane as the primary feedstock for the production of ethanol used in blending with petrol.
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Coal / Mining
Budget 2024-25 sets stage for India’s drive to self-reliance through Critical Mineral Mission: GK Reddy
New Delhi: India’s Critical Mineral Mission – announced in Budget 2024-25, will look to secure such resources through partnerships with other mineral-rich countries. It will also address issues of availability while ensuring supplies of such minerals in domestic market, says G Kishan Reddy, Union Minister of Mines. The Mission will also look to up capacities in India in terms of refining and processing (in critical minerals) and push R&D.
Coal India interested in participating in auctions to secure lithium block, says Chairman
Kolkata: State-run coal behemoth Coal India, which has embarked on diversification into the non-coal sector, is interested in participating in more auctions to secure its first lithium block. “Now we have taken one mine in graphite. For lithium, we participated (in auction), but we did not get it. So, we are interested,” Coal India Chairman-cum-Managing Director PM Prasad said on Sunday.
GMDC net profit dips 16% to ₹184 crore in Q1
During the same quarter, last year, GMDC posted a net profit of ₹218 crore, the company said in a filing with the stock exchanges. The company’s revenue from operations stood at ₹818 crore, up 6.9 per cent against ₹765 crore in the corresponding period of last fiscal.
Coal India raises output target to 1 billion tonnes by FY2025-26
📝 Advancing 119 projects with sanctioned capital of Rs 1.33 lakh cr to boost output: Coal India
📝 After setbacks, more exploration of J&K lithium block likely before another auction
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Power
NTPC Q1 Results: Q1 sees 12.6% growth to Rs 48,521 crore, net profit up 12.2%
NTPC Q1 Results: NTPC Ltd. has announced robust financial results for the first quarter of fiscal year 2025, demonstrating a significant double-digit growth in both income and profit. NTPC’s total installed capacity increased by 3,024 megawatts to reach 76,048 MW by the end of June 2024. The company’s gross generation of power grew by 10.56% to 97.9 billion units.
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Renewable Energy
REC reports net profit of ₹3,460 crore in Q1 FY25
The company’s consolidated total income during Q1 FY25 stood at ₹13,092 crore compared to ₹12,707 crore in Q4 FY24 and ₹11,108 crore in Q1 FY24. The company has declared the interim dividend of ₹3.50 per equity share (on face value of ₹10 each).
Harnessing solar energy for sustainable agriculture: Innovations and benefits
In recent years, the intersection of agriculture and renewable energy has become a focal point for fostering sustainable development. Among the various renewable energy sources, solar energy stands out due to its abundant availability and potential for integration into farming practices. Solar energy not only offers a sustainable solution to the energy demands of agriculture but also presents numerous innovative applications that can revolutionise the industry. This article explores the innovations and benefits of harnessing solar energy for sustainable agriculture.
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