Top Indian Metal & Energy Industry News & Updates - 05 Nov 2025,Wednesday
Govt. Policy / Industry
Govt turns wary of fresh RE bids, to revise contract model
The government is actively exploring mechanisms to optimise transmission capacity and improve the contracting framework for renewable energy (RE) projects with stakeholders, to enable efficient addition of RE capacity to the grid, the ministry of new and renewable energy said on Tuesday.
Kirloskar Ferrous to invest ₹3,000 crore in Karnataka’s Hiriyuru plant expansion
Bengaluru: Castings and pig iron manufacturer Kirloskar Ferrous Industries plans to invest ₹3,000 crore in its Hiriyuru plant in Karnataka’s Chitradurga district over the next three years.
📝 India may cancel green power projects struggling to find clients
📝 India's clean‑industry pipeline hampered by financing, regulatory delays, report says
📝 Govt launches 3rd round of PLI scheme for speciality sector to attract investment in sector
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Iron & Steel
Steel PLI 1.2 to focus on advanced products; MSMEs also to benefit
The government on Tuesday launched the third round of production linked incentive (PLI 1.2) scheme for “specialty steel” to attract new investments in these emerging and advanced steel products.
JSW Steel CEO flags concerns over India’s met coke import curbs amid supply crunch
India’s import curbs on metallurgical coke, a key steelmaking fuel, have become a concern for many producers, Jayant Acharya, Indian steelmaker JSW Steel’s chief executive, said on Tuesday.
Lower global prices plague local steel companies: Steel secretary Sandeep Poundrik
Low prices, dumping hurt steelmakers: Steel secy
The Financial Express
Centre launches third round of PLI scheme for specialty steel
📝 IMFA to buy Tata Steel’s Kalinganagar ferrochrome plant in Rs 610 crore deal
📝 Specialty steel gets fresh PLI round with ₹2,100 cr outlay
📝 India’s steel expansion plans face setback as cheap imports hit local mills
📝 IMFA to acquire Tata Steel's ferro chrome plant in Odisha for Rs 610 cr
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Aluminium & Copper
📝 Novelis Q2 net income rises 27% YoY to $163 million on higher aluminium prices
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Gold / Silver & Bullion
Gems & jewellery exports: UAE gains share as US loses ground
Shipments of gems and jewellery to the US have been contracting for four years in a row, reports Saikat Neogi. The decline became much sharper in FY26.
📝 Titan reports surge in Tanishq jewellery sales during festive season amid high gold prices
📝 Gold declines by Rs 1,200 to Rs 1.24 lakh/10g on weak global trends
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Other Metals
📝 Hindustan Zinc pioneers sustainability with EcoZen brand
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Oil & Gas / OMCs
Castrol’s Q3 profit boosted by strong auto lubricant demand
Engine oil maker Castrol India posted a 9.8% rise in third-quarter profit on Tuesday, supported by steady demand for its automotive lubricants.
📝 BESCOM to Install EV 40 charging stations along national and state highways in Karnataka
📝 Reliance preparing to stop crude imports from sanctioned Russian entities; aims to preserve access to Western markets
📝 Domestic demand drags fuel exports down 21%
📝 Norway wealth fund to vote against Musk's $1 trillion Tesla pay package
📝 Oil steadies as market digests OPEC+ output plans
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Coal / Mining
📝 Coal stocks at power plants seen ending FY26 at 62 mt, higher than year-start levels amid steady supply
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Power
Adani Power’s Bangladesh project faces cancellation over corruption charges, company raises payment delays
Gautam Adani-led Adani Group’s 1,600 MW Godda plant has come under scrutiny over corruption by the Bangladesh government. Bangladesh’s interim government has said it will not hesitate to cancel its power supply agreement with Adani Group if corruption or irregularities are found in the deal.
Spot power prices down 32% in Oct
📝 Tata Power to invest Rs 11,000 crore in Pune pumped hydro project
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Renewable Energy
NLC India commissions additional 106 MW solar power capacity at Barsingsar
With this, the total commissioned capacity of the project now stands at 158.83 MW, following the earlier commissioning of 52.83 MW.
Q2 profits of Suzlon Energy rise 6-fold on deferred tax gains & record deliveries
Ahmedabad: Aided by revenues from Wind Turbine Generators and deferred tax gains, the net profit of Suzlon Energy Ltd rose six times to ₹1,279 crore during the second quarter of financial year 2025-26.
Govt to review 43.9 GW of RE capacities that have no takers
New Delhi: In a significant development, the Ministry of New & Renewable Energy (MNRE) said on Tuesday that it has directed renewable energy implementation agencies (REIAs) to review 43.9 gigawatts (GW) capacities that has been languishing due to lack of interest from Discoms in signing power sale agreements (PSAs).
📝 No blanket scrapping of renewable project bids, says ministry
📝 Suzlon’s Q2 deliveries hit all-time high amid India’s wind energy push
📝 Suzlon Energy Q2 FY26 Results: PAT soars 538% YoY to Rs 1,279 crore, highest in 30 years; revenue jumps 85%
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International
📝 SSAB targets profit growth driven by premium steels, investments through 2030
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Economy
Markets end lower: Nifty slips below 25,600, Sensex falls over 500 points; Power Grid plunges 3% – Other key highlights
Indian equity benchmarks closed Tuesday’s trade on a lower note, creating lower lows. The Nifty 50 finished the day 165 points or 0.64% lower at 25,598, and the Sensex declined 519 points or 0.62% to end at 83,459.
📝 India’s top 1% grew wealth share by 62% between 2000 and 2023, says G20 inequality report
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