MINING OPERATIONS
Vodafone Idea Q2 Results: Loss widens to Rs 5,975 crore, revenue rises 6% YoY; ARPU jumps to Rs 198
Vodafone Idea Q2 Results: Telecom operator Vodafone Idea reported a widening of its net loss to Rs 5,975 crore in the September quarter of FY27 (Q2FY27), partly due to the adverse impact of mark-to-market adjustments on treasury assets. The company had reported a net loss of Rs 5,584 crore in the corresponding quarter of the previous financial year (Q2FY26).
In the 1920s, Utah’s Coal City was planned for 2,600 lots, but only about 200 were sold; the mining company dissolved in 1936
In the early 1920s, George A. Storrs aimed to create a unique mining town in Utah. The planned community was intended for miner-ownership with homes, farms, and essential services. Despite initial excitement, only a small portion of the lots were sold, and the project failed. The Great Western Coal Mines Company went bankrupt in 1936, leading to the town's decline.
Mundra to Chile, Adani amps up the volume of its heavy metal rock
Adani Group has signed an agreement with Codelco to explore a copper project in Chile. This partnership aims to ensure a secure supply of copper for its operations in Mundra, Gujarat. The agreement comes amid rising copper demand in India and a need for more imports.
Adani eyes Chile's copper riches: Kutch Copper and Codelco sign MoU to explore Kaburkaala project
Adani Group's Kutch Copper Ltd has signed an MoU with Chile's state-owned Codelco to explore the Kaburkaala copper project in northern Chile. The partnership aims to combine Adani's investment and technical capabilities with Codelco's geological expertise, potentially securing long-term copper supplies for the group's Mundra smelter as India seeks to strengthen its domestic copper supply chain.
UN Security Council to meet on "situation in the Middle East"
Bahrain requested an urgent UN Security Council meeting to discuss the ongoing situation in the Gulf region. The session is scheduled for Thursday at 3:10 pm New York time, focusing on regional security developments. Recent military tensions, particularly involving Iran, have prompted these urgent discussions among international leaders. Israeli Prime Minister Benjamin Netanyahu has argued for military actions while US President Trump favors a diplomatic approach.
Hindalco bets on value-added products for earnings growth, stock re-rating
Hindalco reported record revenue and profit in the latest quarter amid increasing metal prices and improved Novelis performance. The company anticipates muted growth due to declining aluminium prices and elevated input costs. It has initiated significant investments in capacity expansion and enhancing value-added products. Novelis expects to transition towards increased earnings and cost savings in the coming years. Hindalco's strategic moves aim to fortify its position in the aluminium market.
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Three Indian seafarers safe after Saudi-flagged oil tanker faces possible attack in Strait of Hormuz, says Sonowal
A Saudi Arabia-flagged oil tanker named NCC FAJR experienced a possible attack while navigating the Strait of Hormuz. Three Indian seafarers aboard the vessel are reported to be safe after the incident. The Indian government is actively monitoring the situation and coordinating with the ship management company. Maritime safety concerns have arisen due to this incident affecting commercial shipping routes.
IMFA bets on higher ferro chrome output to offset raw material volatility in second half of FY27
Indian Metals and Ferro Alloys expects higher production in the second half of FY27 to offset pressure from raw-material volatility, with output set to cross 100,000 tonnes in the current quarter, managing director Subhrakant Panda said. The company is targeting 380,000 tonnes of ferro chrome this fiscal, supported by captive chrome ore supplies and additional capacity from its acquired Kalinganagar plant.
Flights resume at Ramon Airport after being suspended due to 4.5-magnitude earthquake near Eilat
The flight services at Ramon Airport near Eilat have resumed after they were halted because a 4.5-magnitude earthquake struck the southern region near the Red Sea. The airport was evacuated for safety inspections and infrastructure checks, while Ben Gurion Airport near Tel Aviv continued operating normally. No injuries have been reported
Iran says tanker struck mine, caught fire in Hormuz
An oil tanker has been engulfed in flames after striking a mine in the Strait of Hormuz, as Iran continues to limit maritime traffic since the onset of regional hostilities. In retaliation, the United States has implemented a blockade on Iranian ports, while its Central Command is guiding ships through the strait to guarantee their safety. Recently, three more tankers have experienced fire incidents in the area.
Tata Steel shares rise 2%. Why brokerages remain bullish; see up to 30% upside potential
Tata Steel shares rise over 2% following strong Q2 FY27 earnings, with net profit increasing 16% year-on-year. Brokerages largely retain Buy ratings, although target prices vary. Nomura cuts its target, while Jefferies remains optimistic and Axis Securities upgrades its rating, citing improving margins and earnings prospects.
Oil rises from two-month low as Hormuz shipping attacks offset Iran truce hopes
Oil prices rose after a two-month decline due to ongoing tensions in the Iran war and attacks on shipping. Brent futures climbed following reports of multiple attacks on vessels in the Strait of Hormuz. Data indicated a significant rise in shipping incidents in October, with continued threats observed into November. Concerns remain about insurance costs and risks associated with shipping in these waters.
Iran says two oil tankers on fire in Hormuz
Iran's Revolutionary Guards have reported that two oil tankers caught fire in the Strait of Hormuz. The vessels were allegedly traveling along unauthorized routes when the incidents occurred. This action follows significant restrictions imposed on maritime traffic in the region amid ongoing conflicts. Additionally, the US has implemented a naval blockade in response to these developments. Tensions remain high as these incidents threaten global oil transportation routes.
Another billion-dollar IPO: After Jio and NSE, what should investors know about Mahanadi Coalfields?
Mahanadi Coalfields is gearing up for a potential $1 billion IPO that could value Coal India's subsidiary at up to $10 billion. With Sebi clearance secured and investor meetings underway, the offering could be among India's biggest public issues. Here's what investors should know about the company's operations, financial performance, IPO structure, key customers and growth prospects.
These large-caps have ‘strong buy’ & ‘buy’ recos and an upside potential of over 25%
The FPIs that were selling in the Indian market all these months mostly owned large-cap stocks. And as they sold them, it was that segment which bore the brunt of the selling. The same logic will operate in reverse as they start buying, focusing once again on the safer and more liquid large-cap stocks.
Stock Picks of the Week: 5 stocks with consistent score improvement and upside potential of up to 35% in 1 year, according to analysts
The market weathered a whole bad patch with almost no FPI money coming in. But it cuts the other way too. When so little has been flowing in, even a small amount of FPI buying can move the market more than it normally would. That said, the mood has turned from bearish to cautiously optimistic, thanks largely to dropping oil prices. None of that changes your basic job as an investor: Study companies, look at earnings, and keep quality front and centre.
Explained: Why copper prices could fall further after four-month low amid US election outcome
Copper prices fell to a four-month low following the US midterm election outcome, which raised doubts over AI data centre demand and import tariffs. Despite a minor Monday bounce and tight supply constraints, analysts at TD Securities warn of potential further downside in the near term.
If AI unwinding pulls power stocks down, mind the difference between narrative and business: 6 stocks with upside potential of up to 30%
It is quite possible that, over the coming weeks, the narrative on the street could be that power stocks, which many had started to treat as a kind of proxy for the AI build-out, would come under pressure. But linking these stocks to global unwinding in the AI trade could be a mistake because demand for power in India depends on something far bigger and far older.
US military says it fired on commercial vessel in Gulf of Oman after it attempted to breach blockade
U.S. Central Command disabled a ship flagged by St. Kitts after it attempted to leave Iranian waters. This action follows multiple warnings regarding naval movements in the region. Meanwhile, explosions were reported in the Strait of Hormuz, raising concerns about maritime safety. The Iranian military also announced that two tankers caught fire after hitting mines. Military tensions in the area have escalated following recent limited strikes by U.S. forces.
In 1793, England completed an inclined plane that carried canal boats 207 feet uphill on wheeled cradles before returning them to the water
Around 200 years ago, a brilliant team of engineers in England created the Hay Inclined Plane, revolutionizing canal boat transport. This ingenious design enabled boats to move between the River Severn and the Shropshire Canal bypassing locks. By harnessing gravity and the power of counterweights, the system enhanced transport efficiency. As railways became more prevalent in the 19th century, its importance waned.
Bengaluru airport road to face 18 months of traffic curbs amid infrastructure work; what is the latest status of the Blue Line Metro and when will it open to passengers?
Bengaluru airport traffic news: Bengaluru Development Authority is commencing an elevated corridor project on Ballari Road starting November 6. The construction will affect traffic movement for the next 18 months, particularly for goods and bus vehicles. Bengaluru Traffic Police has issued a ban on certain vehicles in the construction area to manage congestion. Additionally, the Blue Line of Namma Metro is facing delays due to material shortages caused by restrictions.
Delhi air pollution: GRAP 3 restrictions kick in ahead of Diwali; what's allowed and what's banned
Delhi-NCR has invoked GRAP Stage III restrictions ahead of Diwali as pollution levels worsened, with the capital's AQI reaching 382. The curbs include restrictions on older vehicles, construction and dust-generating activities, while essential projects, additional Metro services and buses can continue under prescribed measures.
Adani’s copper smelter targets up to 85% utilisation by March on assured supplies
Adani Group’s Kutch Copper expects to increase smelter capacity utilisation to 80-85% by March, against its earlier target of 75%, as long-term contracts help secure copper concentrate amid tight global supplies. The smelter operated at 64% utilisation in the September quarter, producing 80,200 tonnes.
ArcelorMittal reports USD 391 million loss in July-Sept quarter
ArcelorMittal reported a net loss of USD 391 million for the September quarter due to rising energy costs. The company's sales increased to USD 16,466 million while steel production saw a slight rise. Adjusted net income grew to USD 0.9 billion, indicating improvement in earnings capacity over time. AMNS India, its joint venture with Nippon Steel, also reported increased EBITDA for the same period.
Trump-linked crypto assets slip up to 16%, AI data centre stocks slide after Democrats' US midterm win
Trump-linked cryptocurrencies tumbled up to 16%, while shares of Bitcoin miners transitioning into AI data centre businesses slumped as Democrats' strong midterm performance rattled investor sentiment. Concerns over tighter regulations, potential construction delays in Texas and rising financing costs weighed on companies betting on the AI infrastructure boom.
Kazakhstan and India sign extradition treaty to combat international crime & terror
India and Kazakhstan have recently entered into an extradition treaty aimed at addressing cross-border crime. The treaty establishes a legal framework for the extradition of individuals wanted for criminal activities. This agreement complements existing treaties on mutual legal assistance and transfer of sentenced persons between the two nations. Increased cooperation is necessary due to growing trade, cultural exchanges, and tourism between India and Kazakhstan.
Google's use of press by AI chatbot may infringe copyright rules, EU court adviser says
A recent advisory from a leading legal authority in Europe highlights that press publications can sometimes violate copyright laws. The Advocate General emphasized that while copyright covers unique expressions, using such material for the development of large language models may fall under the text and data mining exception. This advisory is part of a legal challenge brought by Like Company against Google.
Coal India said to plan $1 billion MCL IPO as soon as this month
Coal India is preparing a $1 billion IPO of its subsidiary Mahanadi Coalfields, potentially launching in late November or early December 2026. The offer will involve a 10% stake sale by the parent, valuing MCL at up to $10 billion. MCL contributed 22.4% of India's non-coking coal production in FY26.
South Eastern Coalfields files DRHP with SEBI for IPO; Coal India to offload 66.8 crore shares
Coal India subsidiary South Eastern Coalfields has filed its draft papers with SEBI for an IPO comprising an offer for sale of up to 66.81 crore shares. One of India’s largest coal producers, SECL reported higher revenue and profit and plans to list on the BSE and NSE.
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