Adani to invest ₹1.3 lakh cr in FY25 across portfolio companies
Adani to invest Rs 1.3 lakh cr in FY25 across portfolio companies

JSW Steel USA to invest $110 mn to upgrade steel plate mill
JSW Steel USA, a subsidiary of JSW Steel, plans to invest $110 million to modernise its steel plate mill in Baytown, Texas.

IBJA reconstitutes board for 2024-29 with Prithviraj Kothari as national chief
Chennai: The Indian Bullion and Jewellers Association (IBJA) has reconstituted its governing board for 2024-29 with Prithviraj Kothari of Riddi Siddhi Bullion Ltd as the national president.  Aksha Mohit Kamboj, Executive Chairman of Aspect Global Ventures Pvt Ltd, has been appointed the national vice-president of the association, while Surendra Mehta C.A., will be the national secretary. The IBJA board includes representatives from the exporting community, loose diamond and diamond jewellery sector, bullion and refiners sector, jewellery manufacturers and wholesalers, hallmarking agencies, retail jewellers and coloured stone jewellers. 

Gold price dips Rs 10 to Rs 72,220, silver falls Rs 100 to Rs 90,900

The price of 22-carat gold slipped Rs 10, with the yellow metal trading at Rs 66,240.

Titan, Kalyan boost online play to fast-track growth
In the last 12 months, the country’s top two jewellery retailers, Titan and Kalyan, have each acquired an online platform — Caratlane and Candere, respectively. And the retailers are now looking to diversify  their base with newer, younger customers, tapping the market for lifestyle jewellery.  

We have a capex plan of Rs 20,000-cr for FY25, e-auction window to be widened: Coal India Chairman PM Prasad
State-owned Coal India is betting big in its diversification into renewable energy and exploration of critical minerals. In line with its plans to ramp up its mining capacity and coal production, the company aims to increase its renewable energy capacity to 5 gigawatt (GW) in the next few years, Chairman and Managing Director P M Prasad told Arunima Bharadwaj in an interview. After recording elevated capex for the past many years, the company has now set its capex target for the fiscal at Rs 20,000 crore.

Power stations stocked with bumper coal supply as transport woes ease
While the domestic production of coal during these summer months has grown 8-10 per cent over last year, easing of transportation bottlenecks has been the real catalyst of change. Imported coal currently accounts for 9-10 per cent of the total national coal stock.

Gas-based power plants to have limited role by 2030: report
New Delhi: The role of gas-based power generation, which currently accounts for around 2 per cent of India’s power generation, may become limited to just providing grid flexibility by FY30, a study by the Institute for Energy Economics and Financial Analysis (IEEFA) has projected. The IEEFA in its global liquefied natural gas (LNG) outlook 2024-28 pointed out that the Power sector’s LNG consumption has been low due to the high costs of gas-based power. From 2022 to 2023, at least half India’s 62 gas-based power plants did not generate any electricity, although the government will continue to use gas plants for peak demand requirements in 2024, it added.

Hydropower generation falters amid slow monsoon
 

Cleantech Solar secures ₹855-cr long-term green financing
Cleantech Solar on Tuesday announced the financial close of a ₹855-crore long-term senior secured loan from Aseem Infrastructure Finance. The funding is for the advancement of its open-access commercial and industrial (C&I) portfolio in India, the renewable energy solution provider said. The rupee term loan will be deployed towards the construction, development and operation of Cleantech Solar’s open-access solar and wind parks across multiple Indian states.

India to add 7 new nuclear reactors, increase power generation capacity by 70% in 5 years: Minister
New Delhi: India's nuclear power generation capacity is likely to rise by around 70% over the next five years, reaching 13.08 GW, with the installation of seven new nuclear reactors, said union minister Jitendra Singh during a meeting to review the Department of Atomic Energy's 100-day action plan. India currently has 24 nuclear reactors.