Critical mineral auctions come a cropper
The industry’s lack of response and interest to the auction of a few critical mineral blocks including lithium – a key component in renewable energy sources – poses concern over availability of adequate technology and the country’s ability to tap the domestically found minerals, according to analysts.

Tata, JSPL, JSW, JSL among Indian steel-makers carrying out pilot projects to reduce carbon emissions
New Delhi: To reduce emissions and carbon footprint, at least five pilot projects across three integrated steel mills and one stainless steel player are underway, with all of them experimenting with alternative fuels, including green hydrogen and biochar.

Steel demand likely to exceed 8% growth target, select speciality products under PLI scheme introduced: Nagendra Nath Sinha
New Delhi: The increase in capex spend in Railways, housing, industrial parks and so on, as proposed in the Budget, will propel demand for the steel to well above the anticipated 8 per cent number, says Union Steel Secretary, Nagendra Nath Sinha. India is a bright spot amidst a gloomy global scenario as far as steel demand is concerned, he said.  In an interview to businessline, he talks about the impact of Budget proposals on propelling steel demand and the impact of PLI on specialty steel, among others. 

Vedanta secures lenders’ nod for mega demerger, aims to unlock value
navVedanta Ltd, led by billionaire Anil Agarwal, has secured approval from 75% of its lenders, including the State Bank of India (SBI), for its proposed mega demerger.

Gold price slips Rs 10 to Rs 68,940, silver declines Rs 100 to Rs 84,400

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 63,190.

Lubrizol signs MoU with Maharashtra Govt as part of ‘make local for global’ strategy
Lubrizol, a US-based speciality chemicals manufacturer, has signed an MoU with the government of Maharashtra for a 120-acre land to set up a new manufacturing facility. The new plant, set to commence operations in 2028, will also mark the company’s 100th anniversary.

Hindustan Petroleum Corporation Q1 Results Live : profit falls by 90.63% YOY
Hindustan Petroleum Corporation Q1 Results Live : Hindustan Petroleum Corporation declared their Q1 results on 29 Jul, 2024. The topline increased by 1.49% & the profit decreased by 90.63% YoY. As compared to the previous quarter the revenue declined by 0.58% and the profit decreased by 76.6%.

IOC Q1 Results: Profit plummets 81% YoY to Rs 2,643 crore
IOC Q1FY25 consolidated net profit slumps 75%
The Financial Express

GAIL Q1 Results: Cons PAT soars 78% YoY to Rs 3,183 crore; revenue rises 6%
GAIL Q1 results: Net profit rises 77% YoY to ₹3,183 crore, revenue at ₹34,822 crore
mint

ElectricPe raises $3 million in pre-series A led by Green Frontier Capital
ElectricPe, a Bengaluru-based EV charging aggregator, has raised $3 million pre-series A Round. The funding led by Green Frontier Capital saw participation from its existing lead investors including Blume Ventures, Micelio Fund and NB Ventures. The funds will be used to fuel ElectricPe’s growth and innovation initiatives and expand to new geographic locations.

Saudi Arabia sees lithium investment options in Chile: Mining minister
Saudi Arabia's Manara Minerals is looking at opportunities to invest in lithium production in Chile, mining minister Bandar Alkhorayaf said on Monday during a visit to the South American country.

Vedanta gets creditors approval to demerge biz
 

Skipper reports impressive 99.51% jump in net profit for Q1FY25
Kolkata: Skipper, one of the world’s leading manufacturers of power transmission and distribution structures, reported a 99.51 per cent year-on-year jump in its consolidated net profit to ₹32.42 crore for the first quarter of this fiscal year. The Kolkata-based company had posted a net profit of ₹16.25 crore for the first quarter last fiscal. 

Charged up NTPC stock hits yet another peak
Chennai: Shares of NTPC zoomed to an all-time high, as most analysts gave thumbs-up to its quarterly performance of the PSU power major. NTPC hit an all-time high of ₹412.60 on the BSE on Tuesday and closed 3.3 per cent higher at ₹406.90 after the State-owned power generator reported higher quarterly results.

Torrent Power clocks 87 per cent increase in Q1 profits
Ahmedabad: Torrent Power clocked an 87 per cent increase in profits for the first quarter of financial year 2024-25. The company’s profit after tax grew to ₹996 crore from ₹532 crore during the same period last year. “Increase in contribution from merchant power sales in gas-based plants and increase in contribution from licenced distribution businesses, contributed to the increased PAT,” stated the company in an official release.

Adani Energy raises $1 bn via QIP issue
Adani Energy Solutions, the power transmission arm of the Adani group, raised $ 1 billion (over Rs 8,300 crore) through a qualified institutional placement (QIP) issue.

BP to develop green hydrogen project in Spain
BP said on Tuesday it has given the green light to development of a green hydrogen facility at its Castellon refinery in Spain.