Top Indian Metal & Energy Industry News & Updates - 28 March 2026,Saturday
Govt. Policy / Industry
📝 L&T bags ₹1,000–2,500 crore orders for factories and industrial projects across states
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Iron & Steel
Global steel production goes south by 2.2% in Feb 2026
Source Credit: Sneha Joseph, The Hindu Business Line
📝 India seeks steelmaking raw material from Argentina, Indonesia, Oman, sources say
📝 JSW Steel sets board meeting date to announce Q4 results 2026. Details here
📝 Jindal Stainless collaborates with Sunrisers Hyderabad
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Gold / Silver & Bullion
Geopolitical tensions drive volatile gold prices, hitting jewellery demand
Mumbai: A surge in geopolitical tensions in West Asia has jolted India’s gold market, triggering sharp price swings and dampening both domestic buying and export demand at a critical juncture for the jewellery trade.
📝 Gold futures jump ₹1,997 to ₹1.41 lakh per 10 grams on global rebound
📝 Gold rebounds nearly ₹2,000 to ₹1.41 lakh/10g as global prices recover
📝 Gold, silver prices today, March 28, 2026: Check city-wise rates in Delhi, Mumbai, Chennai, Kolkata and more
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Oil & Gas / OMCs
Oil may hit $200 per barrel if Iran war lasts till June, warns Macquarie
Oil may hit a record $200 a barrel if the Iran war drags on till June, with the Strait of Hormuz staying shut, Macquarie Group Ltd. said.
Hardeep Singh Puri rubbishes rumours of lockdown in India amid West Asia conflict; calls it "irresponsible and harmful"
New Delhi: Union Minister for Petroleum and Natural Gas Hardeep Singh Puri, on Friday, made it clear that there will be no lockdown of the country, which was previously implemented during the pandemic period. The Minister also criticised rumours of lockdown, calling it "irresponsible and harmful" is such a situation.
Excise duty cut to help oil companies absorb losses, prevent fuel price hike: Petrol Dealers Association's Ajay Bansal
New Delhi: The recent reduction in excise duty on petrol and diesel will mainly help oil companies absorb their losses and prevent an immediate rise in fuel prices, said Ajay Bansal, President of the All India Petroleum Dealers Association (AIPDA), on Friday. Speaking to ANI, Bansal said the relief provided by the Centre is aimed at offsetting the financial losses currently faced by oil marketing companies.
PSU OMCs to not raise petrol, diesel prices even as under-recoveries surge
New Delhi: Even as oil marketing companies (OMCs)’ under-recoveries rose by around ₹26 per litre on petrol and a steep ₹81.90 per litre on diesel, the government on Friday said there are “sufficient supplies” of two key auto fuels with no plans by PSU OMCs to hike retail prices.
Govt imposes taxes on fuel exports as West Asia conflict jolts supply
India has announced a series of tax changes including a levy on fuel exports, as the country tries to shield consumers from the impact of a deepening conflict in the West Asia that has upended energy supply.
Govt cuts petrol, diesel excise duty by ₹10, but no relief for consumers – here’s why
Centre cuts excise duty on fuel, raises export costs to save consumers from fuel price rise
Excise duty on petrol slashed to Rs 3 per litre, on diesel to nil
Global crude prices have risen by almost 50 per cent since the United States and Israel launched military strikes against Iran on February 28, triggering sweeping retaliation from Tehran.
Oil up 2.5% but set for first weekly decline since start of Iran war
India cuts fuel duty on petrol & diesel, imposes export levy on diesel, ATF
Govt absorbing burden of oil price rise to shield consumers: Hardeep Puri
Why India cut fuel excise duty now and what it means for petrol prices
Govt to review windfall tax on export of diesel, ATF fortnightly: CBIC
📝 Indian Oil buys first Iranian LPG since 2018 as shortage worsens
📝 Crude oil futures pare losses; rise nearly 2% on global cues
📝 Govt raises commercial LPG allocation to 70% of pre-war levels, prioritises key industries
📝 Steel, auto, chemicals to gain from more LPG flow
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Coal / Mining
Coal India to invest Rs 3,300 crore in 8 coking coal washeries, Rs 300 crore for upgrades
Coal India to spend ₹3,300 crore for new coking coal washeries
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Power
India's power demand growth to slow to 1% in FY26, lowest in 5 years: ICRA
📝 Centre relaxes Land Border norms for BHEL tenders
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Renewable Energy
ACME Solar Holdings shares surge 8% after this business update; can they rise further?
ACME Solar Holdings share price surged 8% in morning trade on the BSE on Friday, March 27, looking set to extend its winning run for the third consecutive session. ACME Solar Holdings shares opened at ₹253.45 against their previous close of ₹253.85 and jumped 8% to an intraday high of ₹274.35.
📝 Rays Power Infra wins 200 MW RTC renewable energy project for Indian Railways
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International
📝 Copper steady, aluminium falls on ceasefire hopes
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Economy
Crashing rupee, rising oil prices pull down market after two sessions of gains
After two sessions of meaningful gains, India’s equity market fell sharply again on Friday due to a spike in crude oil prices amid escalating Middle East tensions. The sharp depreciation of the rupee weighed down by relentless selling by foreign institutional investors (FIIs) also hampered sentiments.
India's forex reserves drop $11.41 billion to $698.346 billion: RBI data
Source Credit: Anupreksha Jain, Business Standard
Mumbai: India’s foreign exchange (forex) reserves fell by $11.41 billion to $698.35 billion during the week ended March 20, the latest data from the Reserve Bank of India (RBI) showed. Over the past three weeks, forex reserves have declined by $30.14 billion.
Rupee slumps to fresh low of 94.85 against dollar; bond yields surge
📝 India may face credit stress if Gulf conflict drags on: Moody's
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