Top Indian Metal & Energy Industry News & Updates - 03 Jan 2026,Saturday
Iron & Steel
Steel Exchange of India board approves Rs 700 crore fund raising, credit rating upgraded
The board of Steel Exchange of India has approved fund raising of up to Rs 700 crore, the company said in an official statement. The company has also received an upgradation in its credit ratings, which is likely to help manage the raised funds, the company said in its regulatory filing.
Safeguard duty spurs upgrade as ICICI Securities sees Steel EBITDA rising up to 10%
New Delhi: ICICI Securities has upgraded its outlook on India's steel sector after the government imposed a three-year safeguard duty on most flat steel imports, a move expected to significantly improve domestic pricing power and profitability.
CBAM to hit Indian steel exports to Europe
Indian steelmakers exporting to Europe are preparing for higher costs, lower margins and tougher choices as the European Union’s Carbon Border Adjustment Mechanism (CBAM) begins to bite. Industry estimates suggest that once carbon costs are fully reflected, export prices could rise by 15–22%, a shift that directly affects volumes, profitability and long-term market presence.
Import barriers on metallurgical coke raising cost of making steel
Domestic steel prices may rise in Q4 as safeguard duty curbs imports
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Aluminium & Copper
📝 Aluminum prices top $3,000 for the first time since 2022 as supply risks grow
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Gold / Silver & Bullion
Gold bull run to extend into 2026, silver to stay supported: Report
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Other Metals
📝 Hindustan Zinc mined metal production rises, saleable silver output drops in Q3
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Oil & Gas / OMCs
Reliance cautiously returns to Russian crude with Jamnagar-bound cargoes
Cash Ur Drive to deploy 10 EV Charging stations with advertising rights in Rishikesh
📝 Torrent Gas slashes CNG price by up to Rs 3.50/kg, PNG by up to Rs 2 per unit
📝 India asks refiners for weekly Russian oil import data as it seeks US trade deal, sources say
📝 Adani Total Gas cuts CNG, piped gas prices after PNGRB tariff reset
📝 Tankers laden with Russian oil sail toward Reliance refinery
📝 ISMA seeks GST parity for flex-fuel vehicles, higher ethanol blends in Union Budget
📝 Petrol, diesel, LPG consumption show above average increase in December
📝 Saugata Basuray appointed as Castrol India's interim CEO
📝 Adani Total Gas cuts CNG, piped gas prices after PNGRB tariff reset
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Coal / Mining
Coal India clears decks for buyers from Bangladesh, Nepal and Bhutan to join e-auctions directly
Kolkata: In a move to boost its coal offtake, state-run Coal India on Friday said foreign buyers from Bangladesh, Bhutan and Nepal can now participate in the company’s single window e-auctions directly.
Captive, commercial mines drive coal output growth and dispatches in FY26
Coal production from these mines stood at 19.48 million tonnes in December, marking a 5.75 per cent year-on-year increase, while dispatches during the month were recorded at 18.02 million tonnes, according to data released by the coal ministry. In the October–December quarter (Q3) of FY26, cumulative coal output from captive and commercial mines reached 54.14 million tonnes, up 5.35 per cent from the same period last year.
📝 PM Modi reviews progress on acquisition of critical mineral assets abroad, sops for domestic recycling
📝 Entities in Bangladesh, Bhutan, Nepal can directly buy coal from CIL
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Power
📝 NTPC in talks to buy minority stake in US-based nuclear tech firm CCTE
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Renewable Energy
AGEL incorporates step down arm AE5L
New Delhi: Adani Green Energy on Friday said it has incorporated a step-down subsidiary Adani Ecogen Five Ltd (AE5L) on January 1, 2026, which will produce electricity from renewable sources like solar and wind energy. According to a regulatory filing, the AE5L is incorporated in India and registered with the Registrar of Companies, Ahmedabad, on January 1, and is yet to commence its business operations.
Jakson Group plans solar module exports to the US, Europe and West Asia from FY27
Kolkata: The diversified Jakson Group, which is setting up a 6GW integrated solar manufacturing facility in Madhya Pradesh at an investment of around ₹8,000 crore, is looking at exporting solar modules in a big way.
📝 KPI Green Energy begins power supply from 92-MW hybrid project in Gujarat
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Nuclear Energy
NTPC eyes minority stake in US-based nuclear energy firm Clean Core Thorium Energy
National Thermal Power Corporation (NTPC) is in talks to buy a minority stake in US-based nuclear fuel technology company Clean Core Thorium Energy (CCTE).
📝 Nuclear power play: NTPC, foreign companies ink pacts
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Economy
Nifty closes at new high of 26,328, Bank Nifty too hits fresh high; Sensex up nearly 600 points
The Nifty 50 hit a fresh lifetime high in the afternoon trade. Indian equity benchmarks advanced for most of the session on Friday. The Nifty 50 ended the day 182 points or 0.70% higher at 26,329, and hitting a new record high of 26,340. The BSE Sensex moved up 573 points or 0.67% to end at 85,762.
Rupee slips to two-week lows, closes 90 per dollar
The Indian rupee, which had been holding above the 90-level mark, finally lost the battle after nearly two weeks and closed at 90.20 against the US dollar.
India’s foreign exchange reserves increases by $3.2 billion to $696.6 billion, gold reserves jump $2.9 billion
India’s forex reserves jumped by $3.293 billion to $696.61 billion in the week. According to the Reserve Bank of India, the overall kitty had increased by $4.368 billion to $693.318 billion in the previous reporting week.
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