AP CM vows to strengthen Visakhapatnam Steel Plant as capacity rises to 79%
Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said the state government remains committed to strengthening and protecting the Visakhapatnam Steel Plant (VSP).

Tata Steel targets cost-efficient switch for Netherlands unit
Tata Steel signed an agreement with the Dutch government last week, paving the way for up to €2 billion in state funding for a multi-year decarbonisation plan. The company’s ED & CFO, Koushik Chatterjee, tells Sambit Saha of The Telegraph that it would make the Netherlands unit more financially competitive, being carbon cost-efficient with a lower cost structure. He also argued the plan has broad bipartisan support, even as the Netherlands heads for general elections at the end of October.

Govt will decide on Baldota’s steel mill after court orders, says Siddaramaiah
Chief Minister Siddaramaiah on Monday said the government would take a call on the proposed 10.5 million tonnes per annum (mtpa) steel plant in Koppal district after courts decide on the subject.

The CM, responding to queries on the agitations over the proposed steel project, said there were cases pending in the court and the government would take an appropriate decision.

Hospet-based Baldota group signed up with the government at the global investor summit in February proposing to invest Rs 54,000 crore on a greenfield steel mill with a production capacity of 10.50 million tonnes per annum (MTPA).

The project would add about 15, 000 new direct and indirect jobs, the group had said. But it has ground to a halt following local resistance.

The CM had, in March first week, asked the Koppal district administration to direct the Baldota group to stop work on the steel mill. The CM’s direction came after a delegation of MLAs and MLCs, led by the district in-charge minister Shivaraj Tangadagi, gave him a memorandum opposing the plant.

The Baldota Group’s proposed investment, interestingly, has received all clearances including from the Union Government and the state pollution control board, sources said. The company has acquired 1,000 acres of land and is planning to acquire another 2,400 acres for the steel mill.
https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/govt-will-decide-on-baldotas-steel-mill-after-court-orders-says-siddaramaiah/articleshow/124339307.cms


 

Gold still our favourite long-term commodity; forecasts USD 4300 by Dec 2026: Goldman Sachs
New Delhi: Gold remains Goldman Sachs' "highest-conviction long commodity," with analysts citing strong private and institutional demand, rising equity traded fund (ETF) holdings, and central bank purchases as key drivers of the rally that has lifted the metal nearly 47 per cent to around USD 3,865 per ounce.

Kalyan Jewellers sees slowest growth in four quarters in Q2
Kalyan Jewellers reported its slowest sales growth in four quarters in the July-September period (Q2FY26), with demand tempered by rising gold prices, though festive season sales led by Navratri did offset some of the impact.

Lalithaa Jewellery gets Sebi nod to raise Rs 1,700 crore via IPO
hennai-based Lalithaa Jewellery Mart has received final observation from the capital markets regulator -- Securities and Exchange Board of India (SEBI) - to raise Rs 1,700 crore through an initial public offering (IPO). The company had filed its IPO papers with Sebi on June 6.

Gold may swing wildly this week as investors eye US funding bill, Federal remarks and data
Gold prices are likely to remain volatile in the coming week, as investors track developments around the US government funding bill, labour market data and Federal Reserve commentary, analysts said.

Gold hits record Rs 1.19 lakh, silver follows amid festive demand and global uncertainty
The Statesman
https://www.thestatesman.com/business/gold-prices-in-delhi-soar-%e2%82%b99700-to-hit-record-%e2%82%b9130300-per-10-grams-1503495716.html

Hindustan Zinc gets Rs 73.4 lakh penalty and tax demand from Udaipur tax authorities
Mining major Hindustan Zinc is penalised for Rs 73.4  lakh by the Central Goods and Service Tax Commissioner, Udaipur, Rajasthan. In an exchange filing, the Vedanta Group company stated that it has received a confirmed penalty of Rs 73.46 lakh along with the tax demand and applicable interest. 

India’s oil demand to outpace all other countries through 2050
India’s oil demand will rise more than those of any other country through 2050 on the back of its fast growing economy, and will account for over 12 per cent of the global energy market, BP chief economist Spencer Dale said Monday.

India to account for 12% of global energy demand by 2050: BP Chief Economist
India’s oil demand is expected to grow more than any other nation and will account for over 12% of the world’s energy demand by 2050, up from 7% in 2023, BP’s chief economist Spencer Dale said on Monday while presenting the bp energy outlook for 2025.

ONGC to invest Rs 8,110 cr to develop 172 onshore wells in Andhra, gets ‘green nod' from EAC
ONGC to invest ₹8,110 crore to develop 172 onshore wells in Andhra, gets ‘green nod’ from EAC
The Hindu Business Line

Coal India's first all-women-operated central store unit opens at SECL
 

PVV Infra bags ₹799 cr solar power orders in Uttar Pradesh