BUSINESS
Rebel Ripples: Oil prices may rise temporarily due to the Red Sea crisis, say analysts
India imports most of its crude from the UAE, Saudi Arabia, and Iraq through the Strait of Hormuz, while Russian crude is brought in through the Northern Sea Route. These shipping lanes are largely immune to supply risks arising from the situation in the Red Sea.
BUSINESS
Radiance Renewables plans to raise about Rs 1,250 crore by June
The company, which started in 2020, currently has a capacity of 500 MW and aims to increase it to 2 gigawatts in three years.
BUSINESS
Cement industry ‘under construction’ as leader protects market amid high M&A activity
Analysts expect the bigger players will continue to buy up smaller companies and consolidate to protect and gain market share on expectations of robust demand.
BUSINESS
Budget@10: Mining reforms in focus as India pivots towards sustainability, self-reliance
Exploration in India is mostly handled by government entities, while it is dominated by the private sector in other countries. There is a need for the government to introduce incentives to attract more private participation.
BUSINESS
Crude oil prices edge lower as fresh voluntary cuts by OPEC+ disappoint traders
The benchmark Brent crude, which had initially rallied on the news, slightly dipped at $82.83 a barrel, down 0.32 percent, on December 1, while West Texas Intermediate (WTI) fell 0.26 percent.
BUSINESS
Regency Ceramics aims Rs 100-cr turnover by FY25 amid revival plans
In 2012, a labour unrest broke out in the Yanam plant wherein workers set ablaze machinery, vehicles, raw material, finished goods and records of the company, causing Regency Ceramics to declare a lockout
BUSINESS
India plans first tranche of critical mineral auction on Nov 29
The auction shall be held online through a transparent two stage ascending forward auction process, the ministry said adding that the eligible bidder shall be selected based on the highest percentage of the value of mineral dispatched quoted by them.
BUSINESS
SAIL seeks to hike rail prices for Indian Railways
Under agreement between SAIL and the railways, these prices are for rail supplies that have an Ultimate tensile Strength (UTS) of 90 kg/mm2 and a weight of 60 kg or 52 kg per meter.
BUSINESS
Crude oil prices edge higher as optimistic investors await OPEC meeting
Benchmark Brent crude was trading at $81.43 per barrel on November 24. Prices declined almost 0.7% to end near $81 a barrel on November 23 after a sudden delay to a scheduled OPEC meeting.
BUSINESS
NMDC to hike prices of lumps and fines in Chhattisgarh, Karnataka from today
The price hikes will be effective in both states of Chhattisgarh and Karnataka, CNBC reported adding that both lumps and fines in Chhattisgarh will be hiked by Rs 200 per tonne, while those in Karnataka will go up Rs 300 per tonne.
BUSINESS
Crude oil prices fall as OPEC reschedules meeting
OPEC+ countries were scheduled to meet on November 26 but the meeting has been pushed to November 30, when the oil cartel might extend or deepen supply cuts to support crude prices.
BUSINESS
Crude oil prices flat as markets weigh OPEC cuts
Brent crude was trading at $82.31 a barrel on November 22 against the previous day’s close of $82.45. OPEC and allies, which meet on November 26, may extend or deepen supply cuts to support prices
BUSINESS
Indian Biogas Association expects Rs 1,500 crore in foreign investments in less than a year
The association said investments worth Rs 2,755 crore were struck during the Renewable Energy India Expo 2023, double over the last year.
BUSINESS
NMDC plans investments to pivot towards tailored products
The state-run firm has appointed consultants such as McKinsey & Company and Deloitte to study the market and come up with a marketing policy by the end of the financial year.
BUSINESS
Gandhar Oil Refinery India IPO price band at Rs 160-169 per share, fund raising over Rs 500 crore
Gandhar Oil Refinery India IPO | The Mumbai-based company is planning to mop up Rs 500.69 crore via IPO.
BUSINESS
JSW Steel withdraws decision, chooses to retain ownership of iron ore mine in Odisha
The mine was won by JSW Steel by beating its competitors Adani, JSPL, Rungta Mines, Serajuddin & Co, Lal Traders and Eastern Mining in 2020, according to media reports.
BUSINESS
Vedanta sets up new copper unit in Saudi Arabia
The newly incorporated unit has been named 'Vedanta Copper International VCI Company Limited', according to an exchange filing put out by the company.
BUSINESS
MC Explains: Why is Russian coking coal gaining popularity among Indian steelmakers?
The prices of coking coal in Australia, which forms more than half of India’s imports, have soared this year, forcing companies to look out for other avenues.
BUSINESS
Cloudy outlook for Indian chemical firms as cheap Chinese imports flood market
Major domestic players such as Balaji Amines, Aarti Industries and Alkyl Amines reported a 20-50 percent decline in quarterly profit from the year-ago period
BUSINESS
Concerned about spike in imports of Chinese aluminium foil: Satish Pai Hindalco MD
Last year, Hindalco along with Raviraj Foils and Jindal India filed an application on behalf of the domestic industry seeking continuation of anti-dumping duties on aluminium foil imports from China
BUSINESS
HPCL to carve out lubricants business as separate unit to unlock value
The unit, which is almost 50 years old, has more than 350 grades of lubricants, specialty products and greases.
BUSINESS
MC Explains: Why Maharashtra pollution authority is sending notices to cement cos
Infrastructure projects and large-scale building construction and demolition work have generated dust over several parts of Mumbai, escalating the city’s AQI (air quality index) to 156 on October 19. At this time, New Delhi, which is generally considered more polluted than Mumbai, has an AQI of 121.
BUSINESS
Loss and damage fund must be set up to meet climate change goals: ReNew chairman Sumant Sinha
Sinha added that if the fund is not activated, a lot of the smaller countries, especially those which have low-lying coastal areas, islands, etc., can get wiped off the face of the earth.
BUSINESS
Vedanta to raise $1 billion by December end to repay bonds
The conglomerate has bond repayments of $3.2 billion coming up over the next two years. About $2 billion worth of bonds are slated for redemption in 2024 — half of which are due as early as January — and another $1.2 bn in 2025
