BUSINESS
LTIMindtree, LTTS jointly announce $200 million Gen AI deal pipeline
Between the two companies, L&T Group has trained around 35,000-40,000 engineers in generative AI skills.
BUSINESS
Vedanta subsidiary to sell stake worth over Rs 4,300 crore amid plans to trim debt
Post repayments made from the transaction, VRL would have reduced its debt by upwards of $650 million since the beginning of FY 2025, according to the statement.
BUSINESS
Partial reimbursement of exploration expenses: Who are the beneficiaries and what are the implications? MC explains
The move is expected to benefit private exploration agencies involved in the search for critical and deep-seated minerals.
BUSINESS
Fourth critical minerals auction kicks off next week under a new Minister
The Mines Ministry has launched three tranches of auction of 38 mineral blocks, aimed to strengthen the domestic supply of raw materials needed to support India's green energy shift.
BUSINESS
Why are Indian cement companies moving South? MC explains
Southern states have the largest share in cement production (33%), followed by north (22%), east (19%), west (13%), and central (13%).
BUSINESS
India's renewable energy goal need investment of $190 bn-$215 bn by 2030: Moody's
India will have to add about 50 GW of renewable energy capacity annually over the next five years, beginning 2024, to meet the country ambitious clear energy target. So far, India’s best performance has been 15 GW a year.
BUSINESS
Afcons expects significant rise in FY25 capex, exceeding normal Rs 500-600 crore range
The EPC company will raise Rs 1,250 crore through a fresh issue and Rs 5,750 crore through offer for sale. It will set aside Rs 500 crore from the proceeds for debt repayment.
LOK-SABHA-ELECTION
Pralhad Joshi appointed as Minister of New and Renewable Energy. What's in store for the sector?
In the second-term under PM Modi, Joshi was leading the coal ministry which has now been given to Kishan Reddy. Meanwhile, power ministry would be run by the former Haryana chief minister ML Khattar under the NDA government.
BUSINESS
Kishan Reddy is the new Minister of Coal and Mines. What could be his top priorities?
As the backbone of India's energy and industrial framework, the sector is focused on increasing domestic coal production, reducing reliance on imports, and adopting sustainable mining practices.
LOK-SABHA-ELECTION
HD Kumaraswamy is the new Minister of Steel. What should be his strategic agenda?
His appointment comes at a critical juncture for the Indian steel sector, which is poised for significant growth and transformation as it enters 2024.
BUSINESS
JSW Energy's maiden green hydrogen plant to begin operations in March 2025: CEO
JSW Energy has total locked-in generation capacity of 13.3 GW of which 7.3 GW is operational, 2.6 GW is under-construction across wind, thermal and hydro and 3.4 GW is in the pipeline.
BUSINESS
Steel ministry ropes in consultant to explore use of green hydrogen in manufacturing
India aims to bring down steel sector's carbon emission through green hydrogen, challenges pertaining to its affordability and availability remain an issue
LOK-SABHA-ELECTION
AAP loses out on Kurukshetra lok sabha seat, Jindal won by 29,021 votes
In previous elections, AAP had limited success in Haryana, but it has been gaining traction over the years, especially after its impressive performance in Delhi and Punjab Assembly elections.
BUSINESS
Tata Steel's Rs 17,000 crore capex is aimed at India's domestic demand, says TV Narendran
India deliveries contributed 68 percent of Tata Steel's total deliveries but the steelmakers sees margins to be flattish in FY25.
BUSINESS
Tata Steel will aim to lower key debt ratio as it expands in India in FY25: CEO TV Narendran
Tata Steel CEO expects debt levels to largely remain unchanged but hopes to bring down the net debt-to-EBITDA, a ratio that worsened in the March quarter.
BUSINESS
JSW Steel launches Made-in-India JSW Magsure amid robust demand for coated steel
The steelmaker touts to be the first and only Indian steel company to manufacture and market a Zinc-Magnesium-Aluminium alloy coated steel product in the domestic market.
BUSINESS
Tata Steel's board approves Rs 3,000 crore fundraising via NCDs
Tata Steel net debt stands at Rs 77,550 crore as of March 31, 2024.
BUSINESS
Tata Steel Q4 net profit falls 64% to Rs 611 crore, misses estimates
Tata Steel board approved the proposal to infuse funds up to $2.11 billion into a wholly-owned subsidiary T Steel Holdings (TSHP) Singapore, to repay debt and restructuring costs at Tata Steel UK
EXPLAINERS
What is biochar and how can it aid sustainable steel production?
Biochar can be blended with coke used in blast furnaces and can also be added to iron ore pellets, which are then fed into the blast furnace.
BUSINESS
Grasim Q4: Net Profit flat at Rs 1,370 crore amid chemical weakness, temporary JV co shutdown
Grasim Q4 results: On a standalone basis, the company reported loss of Rs 440 crore over impairment charges related to JV firm's temporary closure.
BUSINESS
How the steel industry will benefit from beneficiation of sub-grade iron ore
A move to maximise the use of low-grade iron ore give steel producers a better cost advantage. India's imports of iron ore hit a five-year high of 5.31 million tonnes in FY24.
BUSINESS
JSW Steel to buy 92.2% stake in Mozambique-based mining firm for $73.8mln
The acquisition worth $73.8 million will help JSW Steel to gain access to more than 800 metric tonnes of premium hard coking coal reserves in Mozambique
BUSINESS
JSW Steel Q4 net profit plunges 65% to Rs 1,299 crore amid higher coking coal costs, lower realizations
JSW Steel's Q4 profit slipped even as consolidated crude steel production in the quarter stood at 6.79 million tonnes, which it touts to be the highest.
BUSINESS
RINL losing Rs 40-50 crore revenue a day amid ongoing strike at Adani's Gangavaram port
The battle for fair wages has been choking RINL’s coking coal supply for more than a month, making the decades-old steelmaker struggle to meet statutory payment obligations.
