L&T bags orders worth up to Rs 5000 Cr from Hindalco, Tata Steel
order from Hindalco to set up an aluminium smelter for its upcoming project in Odisha, and another project from Tata Steel to build a coke oven battery at its Jamshedpur complex.

Coal Ministry issues vesting orders for three new commercial mines

The Ministry of Coal has issued vesting orders for three more coal blocks under commercial coal auctions, taking the total number of such operationally allotted mines to 130. The ministry said these mines are projected to generate an annual revenue of around ₹37,700 crore and create over 3.6 lakh jobs, both directly and indirectly.

L&T wins large orders for Minerals & Metals business
 

Copper may be range-bound around $10,000/t for rest of 2025
Chennai: Copper prices will likely remain range-bound for the rest of 2025, but there could be a floor level around $10,000 a tonne, says analysts.  Copper is benefiting from supply disruptions and an optimistic outlook for global demand, they say. Currently, a three-month contract of copper is ruling at $10,806 a tonne, while spot prices are quoted at $10,797. 

Record gold rally lifts forex reserves by $4.5 billion to top $702.28 billion
Mumbai:  The record rally in gold prices, which scaled past $4300/ounce mark in the reporting week, have lifted the overall forex reserves by $4.5 billion to sniff at the record it had scaled last September when it was near $705 billion mark. The reserves closed the reporting week of October 17 at $702.28 billion.

Gold’s glitter turns into a titter
After hitting a record high earlier in the week, gold prices eased as investors became cautious ahead of the crucial economic data from the US officials. A firmer dollar dampened the sentiments. The yellow metal has gained more than 55 per cent this year, and breached the $4,000-per-ounce level for the first time in October. Experts view the latest decline as a natural and healthy pullback, or a correction after weeks of a prolonged upward run.

Bullion takes a breather: Gold slips below Rs 12,510, silver Softens
 

International crude oil defies US sanctions, prices cool off after 5% surge
 

India can switch from Russian crude, but at a cost: Analysts
 

New Western sanctions: Curbs tighten tap, leave India with headroom to taper off Russia crude
 

BEML, Italy's Tesmec ink pact to introduce surface miner equipment for mining operations
New Delhi: State-owned BEML on Friday said it has joined hands with Italy's Tesmec, S.p.A to introduce surface miner equipment for mining operations in the country. Surface miner equipment refers to heavy machinery used in open-cast mining operation. This includes surface miners, which cut and crush rock and soil without drilling or blasting.

Refex Industries bags ₹300 crore coal handling order in Jharkhand
Chennai: Chennai-based Refex Industries Limited has received an order worth ₹300 crore from a large mining entity in Jharkhand. 

Australia launches First Nations mission to boost mining ties with India
 

Crompton bags ₹445-cr NREDCAP solar rooftop tender in Andhra Pradesh
New Delhi: Crompton Greaves Consumer Electricals Ltd (CGCEL) on Friday said it has received a tender of ₹445.03 crore from NREDCAP for providing solar rooftop system under PM-Surya Ghar Muft Bijli Yojna.

Onix Renewable Limited announces strong financial performance for FY 2024-25
 

ISA’s endeavour is to create clean energy thought leadership in Global South: ISA DG
Emphasising the shift in clean energy leadership from the US and EU to Asia, Africa, and Latin America, Ashish Khanna, Director General of the International Solar Alliance (ISA), underscored the importance of developing thought leadership from the Global South perspective to accelerate energy access to millions. In this direction, he said the upcoming Eight Assembly will deliberate on options such as distributed renewable energy (DRE) to fasttrack access to clean and affordable energy access.

Excerpts:

Swelect’s new CEO shelves cell project, plans BESS foray
Dr Arul Shanmugasundaram, the new CEO of Swelect Energy Systems Ltd, has charted a new course for the company, a major feature of which is shelving the proposed solar cell project. The company will not put up a cell plant but will instead enter into a long-term supply contract with a domestic cell manufacturer, Shanmugasundaram told businessline recently. The supply contract is expected to be finalised in a few months, he said, but did not name the cell supplier because of a non-disclosure agreement. The cells, being made in India, will qualify for any domestic content requirement.

Share of gold in forex reserves doubles since 2022
The share of gold in India’s total foreign exchange reserves more than doubled to 13.6% in September this year from early 2022 levels, as global gold prices touched record highs. Geopolitical uncertainty has driven gold prices due to its safe-haven status and the ability to remain a reliable store of value.

India set to outpace China in FY25 as IMF projects 6.6% growth amid tariff uncertainty
The International Monetary Fund (IMF) has predicted that India will continue to be one of the fastest-growing ’emerging market and developing economies’ in 2025-26, growing at a rate of 6.6%, according to the World Economic Outlook (WEO) report.

Lower US tariffs to offset India’s Russia oil shift, says Nomura
Recalibration of discounted Russian oil imports by Indian companies should be more than offset by gains from lower US tariffs, Nomura said.

Markets wrap up Diwali-shortened week on a muted note: Sensex ends down 340 points, Nifty slips below 25,800; HUL down 3%
After the initial post-Diwali euphoria, the Indian stock market took a breather today, ending lower amid weakness in FMCG and banking stocks. The Sensex closed at 84,211.88, down 0.41%, while the Nifty50 settled at 25,795.15, slipping 0.37%.