Govt mulling long-term coal linkages with no end use restrictions for steel, cement sectors

The Coal Ministry is planning to offer long-term coal linkages to the non-regulated sector (NRS) consumers, without end use restrictions, a move that will not only boost supply of the critical fuel but also aid companies in better planning of the key resource. The development assumes significance as the NRS sector companies include cement, steel, sponge iron and captive power units, which are an important part of the infrastructure sector.

India’s steel trade deficit widens as Chinese imports surge, exports decline
New Delhi: India’s steel trade deficit, the difference between imports and exports, has widened to ₹4,284 crore in the first two months (April and May), approximately 47 per cent of the ₹9,036 crore recorded in FY24, as the country continues to be a net importer of the metal, with a consistent increase in shipments from China.

Gender minorities, marginalised groups to comprise 25 per cent of Tata Steel workforce: Official
Gender minorities to comprise 25% of Tata Steel workforce: Official

Copper Extends Slide on Soft Chinese Demand and Stronger Dollar
Copper extended losses with the dollar strengthening and prices facing sustained pressure from weak Chinese demand.

Aluminium futures: Roll over the short position
Aluminium futures on the Multi Commodity Exchange (MCX) has been on a downtrend since the final week of May, after facing a resistance at ₹250. The June contract slipped below the support at ₹232 and the price action hints at a further decline. But since this contract is nearing expiry, traders can consider the July series for analysis and trading. The July contract, too, has dropped below a support at ₹235. Moreover, the price is below the 20- and 50-day moving averages, which are showing a bearish crossover.

Gold falls to two-week low as higher dollar, yields dent appeal
Gold prices slipped 1% to their lowest level in more than two weeks on Wednesday, weighed by a stronger dollar and higher bond yields, while traders looked forward to U.S. inflation data due later this week.

GMDC joins hands with GUVNL to address power security of Gujarat
Amid continuously increasing power demand in Gujarat, Gujarat Mineral Development Corporation (GMDC), one of the leading mining players, and Gujarat Urja Vikas Nigam Limited (GUVNL), state electricity regulation board, have inked an MOU to address the long-term energy security of the State. 

Inox Green Energy Services to raise up to ₹1,050 crore
Inox Green Energy Services (IGESL), a INOX GFL group firm, on Wednesday said that it will raise up to ₹1,050 crore by way of preferential issue, which will be utilised for organic and in-organic expansion.

TN to boost renewable capacity, to spend ₹700 crore in bolstering distribution infrastructure
Chennai: The Tamil Nadu government has announced a few new measures to enhance renewable energy capacity in the State, with plans to invest about ₹700 crore in improving power distribution and transmission infrastructure.

JSW Energy inks power purchase agreements via its arms for 1,325 MW renewable projects
JSW Neo Energy signs PPAs for 1.3 GW renewable power
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MEIL bags ₹12,800 cr tender from NPCIL for construction of two electrical reactors
New Delhi: Hyderabad-based Megha Engineering & Infrastructure Ltd (MEIL) has bagged an engineering, procurement, and construction (EPC) contract by the state-run Nuclear Power Corp. of India Ltd (NPCIL) for construction of two 700 MW electrical reactors at Kaiga in Karnataka.

Megha Engineering bags nuclear power generation deal worth $1.53 bn

The contract includes the construction of two 700 megawatts (MW) of electrical reactors at Kaigs in the southern Indian state of Karnataka, MEIL said on Wednesday, adding that it is the highest-valued tender ever rolled out by the state-run NPCIL.