BUSINESS
INOXGFL to branch out into more chemical segments, sees strong growth in wind energy business: ED
'We like to list companies,' Devansh Jain told Moneycontrol while talking about value-unlocking opportunities in the group.
BUSINESS
Why mining companies are at loggerheads with states on minerals tax?
In 1989, the SC found that “royalty is a tax” under the Mines Act. A cess on royalty being a tax on royalty was beyond the State’s legislative competence since the Union’s Mines Act “covers the field,” it had said.
BUSINESS
Exclusive: IOCL to re-float tender for maiden green hydrogen plant with revised norms by March-end
IOCL cancelled the tender after the Independent Green Hydrogen Producers Association challenged it in the court, citing alleged discriminatory clauses that favoured IOCL's joint venture.
BUSINESS
Breaking the energy barrier: How women leaders are powering the sector
Despite making up about 39% of the global labor force, women account for just 16% of the energy sector workforce, according to International Energy Agency.
BUSINESS
Karnataka, Rajasthan launch auction for exploration license for critical, deep seated minerals
So far, the nines ministry has handed over 20 blocks to states with consisting of minerals Tin, Tungsten, Rare Earth Elements, Vanadium, Diamond, Copper, Zinc, Lithium, PGE, Potash and Zirconium.
BUSINESS
Renewable energy to have 57% share in India’s installed capacity by 2030: Crisil
The installed capacity is likely to grow at 86 percent rom 416 GW in 2023 to 770-780 GW by 2030. Non-fossil fuel sources are expected to constitute 90 percent of this additional capacity, Crisil said in its report.
BUSINESS
MC Explains | How Indian metal firms are pivoting towards green hydrogen
Injection of hydrogen in blast furnaces helps reduce consumption of coal in the production process, thereby reducing a company's carbon footprint.
BUSINESS
Govt working to avoid a shortage of low-grade iron ore in India: Steel Minister Scindia
Exports of iron ore, mainly fines of below Fe (iron) 58% grade, as well as pellets rose to a three-year high of over 44 million tonnes in calendar year 2023, according to analytics firm SteelMint.
BUSINESS
JSW Steel, Italy govt sign pact to revive Piombino steel hub with 143 mn euro investment
The company said that the project aims to kickstart economic development in the region, which includes restarting production of steel products to safeguard employment and reduce import of steel products into Italy
BUSINESS
Govt launches 2nd part of critical minerals auction worth Rs 30 lakh crore
The mineral blocks which were put for auction include graphite, vanadium, nickel, rare earth elements, PGE, cobalt etc.
BUSINESS
Steel Secretary N N Sinha rules out ban on low-grade iron ore exports
According to reports, smaller steelmakers in India are pressing for a ban on exports of iron ore.
BUSINESS
MC Explains: How did IOC's inaugural green hydrogen project reach Delhi HC's corridor?
On February 21, IOCL cancelled tenders for its inaugural green hydrogen plant to be set up in Panipat, Haryana, according to a corrigendum seen by Moneycontrol.
BUSINESS
Indian Oil cancels tenders for 10 KTA-green hydrogen unit
IOC cancelled the tender amid a lacklustre response and allegations that the tender norms favoured a joint venture that included the state-run oil marketing company
BUSINESS
Why Indian behemoths are betting on the paints sector?
A post-pandemic boom of investments and infrastructure development has resulted in a demand spike from the real estate sector, which accounts for about 70 percent of the total paint demand in India.
BUSINESS
Cement business growth will be through organic, inorganic routes: Kumar Mangalam Birla
The competition heated up in the Indian cement industry after Adani's take over of Ambuja Cement and ACC Ltd., which placed Adani in direct competition with UltraTech. Analysts expect the war for market share to continue and may lead to price wars even as new capacities are added.
BUSINESS
Grasim's Birla Opus expects to exit FY25 with high-single-digit market share
The comments come as industry players are betting high on the decorative cement business amid expectations for the sector to grow to Rs 1 lakh crore in the next five years.
BUSINESS
South African thermal coal gains popularity in India amid cheaper prices
A drop in prices towards the end of 2023 pushed up South African thermal coal shipments to India by 74% to 4.7 million metric tonnes in November-December from a year ago.
BUSINESS
Confidence Petroleum says more industries want to switch to LPG
Currently, the steel industry relies on coke, derived from coal, to smelt iron ore to produce steel.
BUSINESS
Confidence Petroleum, BW LPG JV to build Rs 650 crore LPG terminal at JNPT
The terminal will have the capacity of 62,000 metric tonnes capacity and is expected to enhance the storage capacity and distribution capabilities for LPG in India
BUSINESS
JSW Group to invest Rs 65,000 crore in steel, cement plants in Odisha
The steel facility to is expected to drive economic growth in the region and generate around 30,000 direct and indirect jobs, the company has said
INDIA
Offshore mineral blocks to be auctioned in 2-3 months: Secretary of Mines Ministry
The Geological Survey of India has already handed over 35 offshore mineral blocks for auction to the government and 24 more blocks are in pipeline to be handed over.
BUSINESS
Exclusive: Exploration for vanadium, crucial for EV battery, to start soon in Gujarat
The mining of the metal may advance India's efforts to ensure raw materials security as it forays into EV supply chain amid decarbonization goals. Vanadium is among the 30 minerals identified as 'critical' by the Indian government.
BUSINESS
Exclusive: Hindalco eyes lithium, nickel mines in India; to enter critical minerals mining: MD Satish Pai
The company is looking to use its mining expertise to enter the exploration space of critical minerals, Pai tells Moneycontrol.
BUSINESS
JSW Steel and Japan's JFE form JV to produce grain-oriented electrical steel in India
The global grain-oriented electrical steel market size is poised to reach $18.81 billion by 2030, led by the rising demand from the EV industry, according to a report by Fortune Business Insights
