During the September quarter (Q2FY25), Hindustan Zinc's (HZL's) revenue was reported at Rs 8,300 crore (up 22 per cent year-on-year or Y-o-Y, and 2 per cent quarter-on-quarter or Q-o-Q), marginally above consensus. Operating profit stood at Rs 4,100 crore (up 31 per cent Y-o-Y and 5 per cent Q-o-Q), also a small beat. The operating profit margin was 50 per cent, up from 48.5 per cent in Q1FY25.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Union Home Minister Amit Shah has refuted claims made by Tamil Nadu Chief Minister M K Stalin regarding fund allocation and delimitation, accusing him of spreading misinformation and engaging in diversionary tactics. Shah asserted that the Modi government has provided significant financial support to Tamil Nadu and denied claims of any reduction in Parliamentary representation for the state following delimitation. He also criticized the DMK government's handling of law and order, citing issues such as drug trafficking and corruption. Shah expressed confidence in the BJP's prospects in the upcoming Assembly elections, predicting a larger victory than in Maharashtra and Haryana.
Tata Power will acquire 30% stake in two major Indonesian thermal coal producers owned by PT Bumi Resources Tbk (Bumi) for Rs 4,840 crore ($1.1 billion) giving it access to one of the largest thermal coal mines in the world.
Sale at acquisition price may have been prompted by slow coal traffic and fall in prices.
The death toll in Wednesday's blaze at the Mittal-owend Lenin coal mine in Kazakhstan has risen to 41 with one miner still missing.
Coal Minister Sriprakash Jaiswal on Thursday said mining should be allowed in 90 per cent of the areas classified as no-mining zones by the Environment Ministry and a proposal will be tabled before Cabinet soon, after ascertaining the views of different ministries.
State-owned mining giant, Coal India, is hoping to recover around 75-80 per cent of its liabilities from customers with whom it has long-term fuel supply agreements (FSAs) after the Supreme Court (SC) allowed states to recover dues retrospectively. A legal recourse, however, is underway. "We are impacted in two states - Jharkhand and Odisha.
The court issued notice to the ministry and directed it to file its response in two days.
Temples across Uttar Pradesh were packed with devotees on Sunday for Ram Navami, with Chief Minister Yogi Adityanath leading prayers at the Gorakhnath Temple. Heavy crowds were witnessed at temples in Lucknow, Gorakhpur, and Varanasi, where security was heightened. In Gorakhpur, Adityanath performed the traditional kanya pujan ritual, while in Varanasi, a 51-foot statue of Lord Ram has become a major attraction. The festival was celebrated with enthusiastic fervor across the state.
Will the Supreme Court take note of the case and ensure a respected civil servant is not punished for being in office at the wrong time?
Power utilities may report moderate growth in earnings for Q3FY25. Generation is up 3 per cent year-on-year (Y-o-Y) in Q3 on lower cooling demand and high base, to 429 billion units (BU). Peak demand was steady at 224 Gw in Q3FY25, a 10 per cent decline from the record highs of 250 Gw in May 2024.
The CMOAI had earlier called for a three-day strike that began on Thursday.
The growth in production of eight key infrastructure sectors entered a negative zone after three-and-a-half years, contracting 1.8 per cent in August 2024 due to decline in output of coal, crude oil, natural gas, refinery products, cement and electricity, according to official data released on Monday. The growth rate was 6.1 per cent in July. The growth of core sectors -- coal, crude oil, natural gas, refinery products, fertiliser, steel, cement and electricity -- was 13.4 per cent in August 2023.
The Navy wanted to ascertain the water level as their divers can operate up to 100 feet in a closed container-type situation, a district official said.
The 34-year-old TMC national general secretary was seen entering the new office of the central probe agency in central Delhi around 11 am.
Main opposition Bharatiya Janata Party on Monday once again targeted Prime Minister Manmohan Singh in Rajya Sabha on missing files pertaining to coal mines allocation saying the scam is "monumental" and demanded that he clarify on it.
Adityanath alleged that illegal mining, including rampant extraction of sand, coal and forest resources, was flourishing under the protection of the ruling coalition, leaving Jharkhand hollowed out by mafia activities.
The top court said it cannot order a roving inquiry into purchase of electoral bonds on the assumption that it was quid pro quo for award of contract.
Court says no evidence of cartel in low bids for coal blocks.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
State-owned CIL on Monday said coal supply to the power sector rose 15.6 per cent to 49.7 million tonne last month in the wake of high demand of the dry fuel from electricity generating plants and stressed that it is planning to augment its dispatches further, especially to power plants in the coming months. The statement comes at a time when several parts of the country are grappling with power crisis. "With the intense demand for coal continuing unabated driven by an upward spiral in the electricity generation, CIL (Coal India) pushed up its supplies to power plants of the country to 49.7 million tonnes (MT) in April'22.
Any delay in passing the coal bill may cause a crisis in the coal sector which would also affect the power sector.
They, however, called off their nationwide strike
The immediate denial of any issues with approvals by the Queensland government raises questions as to what Adani is trying to accomplish
The company described the move as an 'important milestone'.
In June last year, India unveiled its first list of 29 critical minerals open for private sector exploration and mining. Since then, 38 critical mineral blocks have been auctioned, but only 14 - less than 37 per cent - have found bidders. This modest achievement was secured only after the Centre conducted a second round of auctions when the first round fell flat, failing to attract the minimum required bidders.
The Enforcement Directorate (ED) has summoned West Bengal Chief Minister Mamata Banerjee's nephew and Trinamool Congress MP Abhishek Banerjee and his wife for questioning in a money laundering case linked to an alleged coal scam in the state, officials said on Saturday.
The company has also advised power firms to use trucks to carry coal from remote mines, like the Amrapali open cast pit in eastern Jharkhand state.
India on Monday announced the results for the country's first critical mineral auction. Amid the tepid response from big players, the list of successful bidders included some lesser known names. A total of five companies secured bids for six critical mineral blocks of graphite, manganese, phosphorite, lithium, and rare earth elements with auction premiums ranging from 13.05 per cent to 400 per cent.
To ensure smooth allocation of 204 cancelled coal blocks, the government has set up a high-level inter-ministerial panel that would provide advise on policy issues and interact with the industry.
The ED had earlier claimed that Abhishek Banerjee was a beneficiary of funds obtained from this illegal trade.
An Indian Air Force transport carrier 'C-130J Super Hercules' with 20 Odisha Fire Services personnel onboard will provide help to the authorities in the East Jaintia Hills.
OSCO E&C said Adani had asked it to halt its design work as of July 16, with tentative plans to resume work in early October.
The central agency asked Banerjee to appear at its Kolkata office on Friday morning, he said.
Soren emphasised that Jharkhand would adhere only to the Chotanagpur Tenancy and Santhal Pargana Tenancy Acts to protect tribal culture, land, and rights.
'If we truly wish to understand and apply Marx's insights today, we must reject the rigid dogmas that later 'Marxists' imposed in his name.'
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