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
BUSINESS
BPCL hopes to restart stuck Mozambique project in a couple of quarters
The project has been under force majeure since April 2021 following worsening security situation due to attacks from Islamic State terrorists in the coastal town of Palma in Cabo Delgado province.
BUSINESS
Tata Steel to start talks with unions on UK job cuts, decision not delayed: CEO
There will be an impact on jobs, and Tata Steel's objective is to make sure that it has a sustainable business in the UK and it continues to make steel there, said MD & CEO TV Narendran
BUSINESS
Tata Steel expects margin expansion in India, driven by demand
The India business generated a higher margin of about 20%, Ebitda of Rs 6,841 crore and crude steel production of just over 5 million tonnes.
BUSINESS
REC to tap Japanese bond market by month-end
The company also posted a profit of over Rs 3,700 crore for the second quarter, which it said was the highest ever.
BUSINESS
BPCL swings to profit in Q2, beats estimates as soft crude prices improve marketing margins
The average gross refining margin (GRM) of the PSU oil refining and marketing company was $15.42 per barrel for the half-year ended September 30.
BUSINESS
Chevron and HPCL launch lubricant brand Caltex, eyes OEM partnerships
The launch reflects Chevron's entry into the crowded lubricant market as India witnesses rapid growth in the sector, with buoyant demand from automotive and industrial companies.
BUSINESS
JSW Steel confirms deal talks with Teck Resources unchanged amid India-Canada diplomatic row
The Sajjan Jindal-led steel giant had earlier said that it was considering buying a 20-40 percent stake in the Teck Resources unit.
