Aluminium: Likely to be range bound. Stay out
Aluminium prices witnessed some wild swings last week. The Aluminium Futures contract on the Multi Commodity Exchange (MCX) initially surged to a high of ₹252.10 per kg. But from there, it fell sharply, giving back all the gains to make a low of ₹236.85. The contract has bounced slightly from there, and it is currently trading at ₹243.50 per kg.

India tightens permissible wastage norms for jewellery export
Government revises wastage, input-output norms for gold, silver jewellery exports; industry ‘disappointed’

Jewellery chain Senco Gold aims 15-20% growth in revenue, profit in FY25

The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY'25), of which around 50 per cent will be franchisee-owned.

Oil steadies after weekly decline on U.S. interest rate prospects
Oil prices were little changed on Monday, making marginal advances in muted trade owing to public holidays in Britain and United States after a downbeat week characterised by the outlook for U.S. interest rates in the face of sticky inflation.

GAIL inaugurates 10 MW green hydrogen plant in Madhya Pradesh
New Delhi: GAIL (India) Ltd's maiden green hydrogen plant at Vijaipur in Madhya Pradesh has been commissioned, making a major step for the nation's largest natural gas transmission and distribution firm's foray into new and alternate energy, the company said.

Hyundai Installs Chennai’s First EV Charging Station
Hyundai set up its first 180 kW DC fast public electric-powered vehicles (EV) charging station in Chennai. The South Korean automobile manufacturer will install 100 fast public EV charging stations at key highways and cities across Tamil Nadu.

ONGC's high investments to delay deleveraging: S&P
"We attribute the higher EBITDA to the strong performance of downstream subsidiaries - Mangalore Refinery and Petrochemicals Ltd (MRPL) and Hindustan Petroleum Corp Ltd (HPCL), which together accounted for about 30% of the group's EBITDA during the year. We forecast ONGC's EBITDA will remain at about INR 1 lakh crore over fiscal years 2025 and 2026," it said.

NTPC powers ahead with plans for expansion, renewable energy business
Back in January 2008, after hitting a high of ₹242, the NTPC Ltd stock fell out of favour with investors, just ahead of the initial public offering (IPO) of Reliance Power. What then followed seemed like a never-ending lull until recently. Over the past one year, NTPC’s shares have more than doubled to ₹370 per share on the back of talk about the unlocking of value in NTPC Green Energy, its renewable (RE) power generation subsidiary. In the FY24 earnings conference call, NTPC’s management has indicated that the process will gather momentum in FY25. 

Bright spot
The fact that India installed upwards of 10 GW of solar power capacity in the first quarter of the calendar year 2024 is truly remarkable. Admittedly, the record-breaking achievement is partly due to delayed projects attaining fruition during the quarter; nevertheless, it is an accomplishment of note. About 96 per cent of the installations were large, ground-mounted projects, which clearly shows where the action and economics lie. Considering that India’s solar journey began only in 2011, this is a noteworthy achievement.

Adani Energy gets board nod to raise Rs 12,500 crore
Adani Energy Solutions (AESL) on Monday received the board’s approval to raise Rs 12,500 crore through qualified institutional placement (QIP) of shares or other avenues in one or more tranches.

NTPC to list green arm NGEL by Oct-Nov to mobilise resources
State-run power major NTPC Ltd is likely to list its fully owned subsidiary NTPC Green Energy Limited (NGEL) by October or November this year to mobilise resources for green projects. The company is expected to expedite the process after June, the company’s top management said in an investor call.

NTPC to launch IPO for green energy subsidiary by October-November 2024
New Delhi: India’s largest power generator said on Monday that it intends to float the much-awaited initial public offer (IPO) of NTPC Green Energy (NGEL) by October-November this year.

A mountain of renewable assets is looking for buyers
Mumbai: A buyer's market is building in India's renewable energy sector, as a range of companies fight for investor attention to sell stake, provide investor exits and raise capital to build new projects.

“Infra, renewable sectors bright spot for investment”
Country’s largest private sector lender HDFC Bank sees infrastructure and renewable sectors as bright spots for investments domestically, Rakesh Singh, Group Head of investment banking, private banking, among other verticals, tells Piyush Shukla in an interaction. Edited excerpts: