By FY27, the IPO-bound NTPC Green Energy (NGEL) intends to invest Rs 1 lakh crore in new initiatives and capacity expansion in areas like green hydrogen and storage projects. Gurdeep Singh, chairman and managing director, stated on Wednesday that the company, which currently has an operating capacity of 3.3 gigawatts (GW), aims to quadruple that…
The Solvent Extractors’ Association (SEA) said that October saw a 60% month-over-month increase in India’s palm oil imports, reaching 845,682 metric tonnes, driven by festive demand and refilled supplies. This increase may put a strain on Malaysian and Indonesian palm oil supplies worldwide. Imports of sunflower oil increased 56.5%, while imports of soy oil decreased…
Kalpataru Projects Overseas Limited (KPIL) declared on Wednesday that it had obtained new orders of awards totaling Rs 2,273 crore, in conjunction with its overseas subsidiaries and joint ventures (JVs). The orders are for residential construction projects in India as well as the Transmission & Distribution (T&D) sector in India and international markets. Manish Mohnot,…
Silver rose 0.16% to 89,327 amid short covering after losses as the dollar index rose above 105.8, its highest level in more than four months. This forecast of high inflation could be contained by the Federal Reserve to cut interest rates and promote safe-haven assets like silver. The global structural deficit in the silver market…
The rupee’s ongoing depreciation is mainly due to a strengthening dollar and selling by foreign investors. As the currency continued to decline, it reached a fresh closing low of 84.40 against the US dollar. The rupee settled at 84.40 after ranging from a high of 84.38 to a low of 84.41 during the day. According…
The Ministry of Statistics & Programme Implementation (MoSPI) revealed data on Tuesday that indicated a strong increase in food prices in October 2024 caused India’s retail inflation, which is based on the Consumer Price Index (CPI), to spike to a 14-month high of 6.21%. Inflation measured by the CPI was 5.49 percent in September, compared…
The Multi Commodity Exchange (MCX), India’s largest commodity exchange, has revised the expiry date of its base metal index futures contract (MCXMETLDEX) due to the Maharashtra Legislative Assembly Election on November 20, 2024. Trading on MCX will only open for the evening session, and the contract will be available for trading until the revised expiry…
Jeera prices dropped -0.22% to 25,220 as a result of a spike in arrivals; in Unjha, about 15,000 bags of cumin are delivered every day. An estimated 20 lakh bags of carryover stock are anticipated at the start of the next season, with farmers keeping about 35% of the supply. Nevertheless, there is hope for…
As the greenback remained strong, the rupee declined and ended Monday at a new record low. The pressure on the rupee is expected to persist until the markets gain clarification on the policies that the Trump administration will implement, as the dollar index remains close to its four-month high of 105.05 and US Treasury yields…
Aluminum prices fell 1.3% to 238.45 due to minor dissatisfaction with recently announced stimulus measures aimed at revitalizing China’s economy. And investors are uncertain about its immediate effect on the metals market. Concerns have been heightened by proposed tariffs on China after an election, which could reduce global demand for metals such as aluminum. China’s…
