Top Indian Metal & Energy Industry News & Updates - 06 May 2025,Tuesday
Govt. Policy / Industry
Bhushan Power order puts Rs 34,000 cr bank fund at risk
The Supreme Court order rejecting JSW Steel’s Rs 19,800 crore resolution plan and liquidating Bhushan Power & Steel Ltd (BPSL) has put at risk around Rs 34,000 crore of banks exposure to the latter.
📝 Government to finalise view on liquidation of Bhushan Power and Steel soon, says DFS Secretary
📝 Finalising response to SC's decision on JSW Steel-Bhushan deal: Govt officials
📝 Modi government finalising response to Supreme Court scrapping JSW Steel-Bhushan deal, official says
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Iron & Steel
Tata Steel & Infosys seek reduction in SEZ areas
Tata Steel and Infosys have requested the government for approval to reduce the sizes of their special economic zones (SEZs) due to change in their business plans.
SC verdict on Bhushan Power and Steel resolution may burn a Rs 22k-cr hole in JSW pocket
New Delhi: The Supreme Court’s decision to revoke the resolution plan of Bhushan Power and Steel Ltd (BPSL) could burn a ₹22,000 crore hole in the consolidated turnover of JSW Steel.
‘JSW needs to rework Odisha strategy’
New Delhi: JSW Steel’s ambitious cost optimisation plans hit a roadblock as it will have to rework its strategy in Odisha after the Supreme Court order to liquidate Bhushan Steel and Power Ltd (BPSL), according to a BigMint report.
JSW Steel may seek legal recourse against SC’s rejection of Bhushan Power & Steel acquisition
With JSW Steel-Bhushan deal scrapped, banks may have to take a hit to their balance sheets
At WTO, US challenges India’s speciality steel PLI scheme
📝 IBC rules under review after scrapping of JSW Steel's BPSL acquisition
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Gold / Silver & Bullion
📝 World Diamond Council urges US to exempt natural diamonds from tariffs
📝 Gold jumps Rs 550 to Rs 97,350/10 gm; silver declines Rs 400
📝 RBI goes slow in bringing back home gold from overseas vaults
📝 Sovereign Gold Bond 2017-18 series VI yields over 220% return in 7.5 years; RBI fixes premature redemption price at Rs 9,453 per gram on May 6
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Other Metals
📝 Hindustan Zinc advances research in zinc-based battery technologies
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Oil & Gas / OMCs
Compensation for oil companies if changes in law shave off $5 mn in earnings a year
The government plans to compensate oil and gas explorers in new contracts if a future change in the law reduces their economic benefits by more than $5 million per year by adjusting its royalties, fees or revenue share from an oilfield.
Oil prices fall below $60 per barrel, time ripe for hike in fuel duties
Crude prices may average $65-70/bbl in 2025, say analysts
The Financial Express
Consumption of diesel, petrol rises in April as economic activity picks up
ONGC, JV partners complete India’s first offshore facilities decommissioning project
OMCs to get compensation for ₹30,000 crore LPG under-recovery in FY26
📝 Compensation for oil companies if changes in law shave off $5 mn in earnings a year
📝 Shell, Reliance & ONGC JV completes India's first offshore facilities decommissioning project
📝 Saudi push into Indian refining is stalling over crude supply
📝 OPEC+'s 'healthy' crude oil market looks like catching a cold: Clyde Russell
📝 Hydrogen versus battery: The cost of clean public transport
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Coal / Mining
Record production in mining; iron ore sees 4.3% growth
📝 Union Minister S C Dubey lauds Coal India arm BCCL for record 3.39 million tonne output in April
📝 Vedanta looks to repay $920mn debt in FY26
📝 Coal India resumes discussions with Chile to acquire lithium blocks
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Power
📝 Bangladesh owes Adani Power around $900 million
📝 Andhra Pradesh overhauls power utilities, inducts new talent, expertise
📝 Spain’s blackout is a wake-up call for India
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Renewable Energy
Ather Energy listing: May be a low key affair
Shares of Ather Energy will be listed at the bourses today. The company has fixed the IPO price at ₹321, at the upper end of the ₹304-321 price band. The IPO saw lacklustre interest, especially from high net worth individuals; as it was subscribed just 1.43 times. Being the first IPO of the current fiscal and from the electric vehicle segment, there has been a lot of buzz ahead of the issue opening.
Serentica Renewables to supply 75 MW hybrid renewable energy to INOXAP
According to the statement, Serentica Renewables, a leading renewable energy provider in India, has signed a Power Supply and Consumption Agreement (PSCA) with INOX Air Products (INOXAP), India's largest manufacturer of industrial, electronic and medical gases.
Amplus Solar rebrands to Gentari - a unified step forward to drive next phase of clean energy growth
📝 Coal India signs MoU with UPRVUNL to set up solar power plant in UP
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