BUSINESS
Inox Wind unlikely to bid for Siemens' Indian wind energy unit
Jain's remarks come as investor interest pivot towards greenfield renewable assets, slowing the sale of nearly 20 gigawatts (GW) of operational and under-construction renewable energy assets in India
BUSINESS
Diwali fuels a surge in premium products’ demand across sectors
Consumers are ignoring macroeconomic headwinds to splurge on luxury items across sectors, including clothing, jewellery, automotive and high-end real estate, during this festive season, data shows.
BUSINESS
Suzlon plans to add 1.5 GW turbine-manufacturing capacity by end of FY25: CFO Mody
Suzlon, which has managed to shake off its heavy debt burden, is looking at meeting the nation's growing demand for wind energy, one of the major sources of clean energy. The firm is not only providing its wind turbines, but also offering a range of operational and maintenance (O&M) services.
BUSINESS
JSW Steel's deal for Mozambique coking coal assets awaits political transition amid legal hurdles
The company through its subsidiary JSW Natural Resources Limited will acquire a 92.19% stake and shareholder loans of the target company for $73.75 million. The steelmaker in a May 17 presentation said the deal would give it access to more than 800 million tonnes of premium hard coking coal reserves in Mozambique.
BUSINESS
AkzoNobel considers stake sale or partnership for Dulux, hints at Grasim, Asian Paints as key players
Dulux's share at 5 percent of the Indian paints market may be minuscule compared to bigger rivals such as Asian Paints and Berger Paints but its strong presence in the premium segment gives it a hard-to-beat cachet
BUSINESS
JSW Steel Q2 results: Net profit falls 85% to Rs 404 crore as cheap import pressures hit realisations
JSW Steel Q2 results: Revenue declines 11% to Rs 39,684 cr, as import pressures hurt prices. The company also recognised an exceptional charge of Rs 342 crore in relation to the surrender of an iron ore mine in Odisha
_54482463.jpg "ACC Q2 results: Net profit falls 49% to Rs 200 crore hit by low cement prices, rising costs")
BUSINESS
ACC Q2 results: Net profit falls 49% to Rs 200 crore hit by low cement prices, rising costs
Consolidated revenue from operations increased 4 per cent to Rs 4,614 crore in the September quarter.
BUSINESS
HUL Board to decide by December on mode of separation for ice cream business, says CEO Rohit Jawa
HUL’s ice cream business, though a smaller part of its portfolio, has shown notable growth. In the Q2 FY25, ice-cream business maintained its volume vis-à-vis last year.
BUSINESS
Himadri Speciality plans to enter EV tyres business; eyes launch in 2 years
Last year, JK Tyre introduced low-resistance tyres designed specifically for EVs, while other leading manufacturers like MRF Ltd and CEAT have also shown interest in this segment.
BUSINESS
Closely watching the impact of Chinese export controls: Waaree Energies Chairman
Waaree exports 44 percent of its modules and the US is one of its key markets. The company is planning to set up a 1.6 GW module facility in Houston.
BUSINESS
Steelmakers raise long product prices amid uptick in domestic demand, uncertainty over China's stimulus bid
Indian steelmakers have been under pressure due to cheaper imports from China, Vietnam, and other countries for the past year. They have been urging the government to put in place trade measures such as tariffs to cushion them from volatility in pricing mechanisms.
BUSINESS
IPO-bound Waaree Energies flags export challenges to US amid scrutiny over Chinese forced labour concerns
Waaree currently exports 44 percent of its manufactured modules and the US is one of its key markets. The company is planning to set up a 1.6 gigawatt module facility in Houston.
BUSINESS
Green steel pilot set to take off from Raipur with Matrix Gas using hydrogen for coal
Matrix Gas and Renewables is working on an indigenous technology which will explore using green hydrogen to convert iron ore into sponge iron by removing oxygen
BUSINESS
Results preview I Cement makers stare at a grim Q2 amid near-decade-low prices and weak demand
Nearly all brokerage houses are cautious on the cement sector, as price growth has almost stalled and demand is yet to recover from the impact of the General Elections, delayed allocations to major infrastructure projects, and heavy monsoon rains, especially in August.
BUSINESS
JSW Steel's acquisition of Mozambique coking coal mines hits roadblock amidst legal dispute
Target Minas de Revuboe has raised objections related to a mining concession, and the deal now hinges on the decision by the International Centre for Settlement.
BUSINESS
Cement prices set to rise in H2 as infrastructure projects gain momentum
Cement firms in various markets are expected to hike prices in the range of Rs 5-15 per bag in October, according to Elara Securities.
BUSINESS
India’s offshore wind ambitions: Is the next big frontier feasible? MC Explains
India has an offshore wind potential of 2,435 GW; however, only 30 percent of this potential lies in waters shallower than 500 meters. Deeper waters will necessitate the use of advanced floating turbine technology to harness this vast resource effectively
BUSINESS
India's Energy Transition: Is coal still necessary for reliable power supply?
Experts say blending renewable energy with thermal power is not the most optimal long-term solution, especially since coal and transportation charges are expected to escalate, while battery-based energy storage prices are expected to decline further over the next few years.
BUSINESS
India's green ammonia drive hits the first speed bump
Producers are concerned about commercial viability due to the capex-intensive nature of the business, which results in low profitability. The government can somewhat address this by doubling the offtake period to 20 years.
BUSINESS
Indian stainless steel body urges imposition of surtax on Chinese imports
The Indian Stainless Steel Development Association (ISSDA), which counts Jindal Stainless and Steel Authority of India Ltd as its members, had flagged concerns related to unfair trade practice by Chinese developers, in a letter to the Steel Secretary,
BUSINESS
Bangladesh securing forex to settle dues of Indian power firms: Sources
Bangladesh’s Rupali Bank has written to ICICI Bank and Indusind Bank regarding the pending payments. Five Indian power companies that supply electricity to Bangladesh are owed more than $1 billion.
BUSINESS
US Fed rate cut to spur more Indian corporates to tap offshore bond markets
Fed chairman Jerome Powell delivered the large 50 bps rate cut, driven by the increased confidence that the US' long battle with inflation had come to an end.
BUSINESS
Oil & gas firms outperformed clean energy by 8.3% in returns over last 5 years: S&P Global data
In terms of subsidies and incentives, India has allocated an average of 37% to fossil fuels and 5% to green energy over the past five years, according to the International Institute for Sustainable Development.
BUSINESS
Hindustan Zinc outlines $2.5 bn expansion plan to double output, work to begin in FY26
The company's expansion plans will include brownfield projects at existing mines and the construction of a greenfield smelter with up to 600,000 tonnes of capacity, CEO Arun Misra said.
