Govt okays Japan’s Konoike Transport as strategic buyer of state-run Ferro Scrap
The government has approved the disinvestment of Ferro Scrap Nigam Ltd (FSNL), allowing Japan's Konoike Transport Co. Ltd’s ₹320 crore bid for taking over the Chhattisgarh-based mining and metals company with full management control.

Kamdhenu Ltd buys stake in franchisee for ₹11.72 cr; stocks decline
Kamdhenu Limited, a player in the steel industry, announced plans to acquire a 7.79 per cent stake in Maa Kudargarhi Power and Ispat Private Limited (MKPIPL), one of its franchisee units. The acquisition, approved by Kamdhenu’s loan and investment committee, involves purchasing 1.8 lakh equity sharesfor ₹11.72 crore, at ₹651 each.

Copper futures probing a resistance
Copper futures on the Multi Commodity Exchange (MCX) have been charting a sideways trend over the past two months. The contract has been oscillating between ₹775 and ₹816. Within this range, the September futures bounced off the support at ₹780 last week. It closed at ₹808.95 on Wednesday. Notably, the price is now above both 20- and 50-day moving averages, a bullish sign. However, the copper futures is yet to break out of the resistance at ₹816. The 38.2 per cent Fibonacci retracement of the prior downswing coincides at this barrier, making it a strong one.

More investor-friendly reforms soon for oil & gas hunt
The government is expected to come out with the bids for oil and natural gas assets under the tenth round of Open Acreage Licencing Policy in the beginning of 2025, according to a senior official of the ministry. Moreover, the government expects the contracts  for the upcoming round and the ongoing 9th round to be signed as per the reforms mentioned in the Oil (Regulations and Development) Amendment Bill, which is expected to be passed in the upcoming winter session of Parliament.

Petrol, diesel price cut before Maha elections? Oil Min official says prices volatile
A decline in price of crude oil -- which is converted into fuels like petrol and diesel at refineries -- had rekindled hopes for a reduction in petrol and diesel rates that have been on a freeze for over two years now barring a pre-election reduction earlier this year.

Govt issues revised guidelines for electric vehicle charging stations

Public spaces like commercial complexes, railway stations, petrol pumps, airports, metro stations, shopping malls, municipal parking lots, highways, and expressways are also covered under the guidelines.

Global oil prices still volatile | OMCs to wait more before petrol, diesel price cut, reverting to routine fuel price revisions
 

Petroleum Minister meets US officials over OVL’s extraction ambitions in Venezuela
Minister of Petroleum and Natural Gas HS Puri met with US officials to push ONGC Videsh’s (OVL) proposal to extract oil from two oil blocks in Venezuela. Puri is currently in Houston (Texas) attending the Gastech exhibition.

AM Green ties up with RWE, to start supplying green ammonia by 2027
AM Green Ammonia B.V., backed by Greenko Group's founders, has tied up with RWE Supply & Trading of Germany to supply green ammonia, and it's expected to start deliveries from its India plants by 2027, the company said in a statement on Thursday. 

NTPC's prospects appear robust, barring seasonal impact in August
Power generation decelerated 4.7 per cent year-on-year (Y-o-Y) to 155 billion units (BU) in August 2024. This was the first downtrend in many years, albeit on a high base -- generation had increased 19 per cent Y-o-Y to 163 billion units (BU) in August 2023. The dip was partly due to excess rainfall, which pared cooling demand and also reduced need for irrigation.

Editorial. Solar strategies
The recently concluded REINVEST meet at Gandhinagar was ambition personified; it raked in a slew of renewable energy investment proposals, amounting to $386 billion and a capacity creation of 570 GW in solar power (₹32.45 lakh crore) by 2030. Those lining up to invest include Reliance Industries (100 GW), ReNew Private Ltd (41 GW), Adani Green Ventures (39GW), NTPC (41 GW), Tata Power (15 GW), SECI (10 GW) and several others.

NTPC Green listing seen a win-win for parent and arm
State-run NTPC is eyeing the twin benefits of both the parent and green arm hitting new highs in valuation with the proposed listing of the latter.

Power Mech bags O&M order worth Rs 865 cr from Vedanta subsidiary Talwandi Sabo Power
Power Mech Projects Ltd on Thursday announced that it has bagged an order for Operation and Maintenance (O&M) of 3X660 MW supercritical thermal power plant from Talwandi Sabo Power Limited, a subsidiary of Vedanta Limited. The project is located in Banawala village, Mansa District, Punjab.

UP secures Rs 1.15 trillion worth investment in green hydrogen sector

Textile giant Welspun Group plans to invest Rs 40,000 crore in a green hydrogen or ammonia plant in Bulandshahr, while Hygenco Green Energies has proposed setting up a 0.2 million-tonne green hydrogen facility in Prayagraj, with an investment of Rs 16,000 crore. The Yogi Adityanath government has set a target of 1 million tonnes per year for green hydrogen or green ammonia production by 2029.

Govt gives approval for NPCIL-NTPC JV to take up nuclear power projects
The government has accorded approval to the Anushakti Vidhyut Nigam Ltd. (ASHVINI), a Joint Venture of Nuclear Power Corporation of India Limited (51%) and NTPC Ltd (49%) to build, own, and operate nuclear power plants in India.