Top Indian Metal & Energy Industry News & Updates - 19 May 2025,Monday
Govt. Policy / Industry
IOCL targets $1 trillion revenue by 2047, to enter data centres, nuclear power, battery and mining sectors
Indian Oil Corporation Ltd (IOCL) is looking to diversify into data centres, nuclear power generation, shipping, critical mineral mining, and battery manufacturing among sectors, said people aware of the development.
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Iron & Steel
📝 Tata Steel targeting Rs 11,500-crore 'cost takeouts' across geographies: CFO
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Gold / Silver & Bullion
Gold prices mark notable drop from all time high
Chennai: Gold prices on the Multi Commodity Exchange (MCX) have experienced a significant fall. The June 2025 gold futures closed at ₹92,480 per 10 grams on Friday, marking a 7.4% drop from the all-time high of ₹99,358 reached earlier this year. This represents a ₹7,347 decrease from the peak.
Gold correction likely short-term; prices may trade between USD 3,050-3,250 per ounce in Q2 2025: Report
📝 GJC asks jewellers to cease business transactions with Turkey, Azerbaijan
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Oil & Gas / OMCs
📝 Regulator approval must for new LNG import terminal
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Coal / Mining
📝 Lease for 7 mines may be revoked as PSEs fail to begin operations
📝 Coal import drops to 263.56 MT in 2024-25
📝 Several global consulting firms evince interest to implement Vedanta's USD 20-bn expansion projects
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Renewable Energy
IPO-bound SAEL to venture into solar cells with a ₹5,000 crore plant in UP
New Delhi: Norfund-backed clean energy firm SAEL Ltd plans to establish a solar cell manufacturing plant in Uttar Pradesh at a projected investment of ₹5,000 crore.
JSW Energy's Ebitda growth fueled by debt binge
JSW Energy Ltd’s stock gained about 3% to ₹504 on Friday even though its results for the quarter and year-ended March were unimpressive. Reported profit after tax increased 20% year-on-year (y-o-y) to ₹415 crore in Q4FY25, but it was mainly because other income more than doubled to ₹308 crore. Other income included a one-off element of about ₹100 crore related to the write-back of provision for deferred consideration related to Mytrah Energy.
RVNL looks at SMRs as next business opportunity along with other green energy sources
📝 India sees a future making solar panels for itself, and maybe the world
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