SUSTAINABLE MINING
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.
Centre bans export of Li-ion battery waste, scrap to boost domestic recycling and critical mineral recovery
India has imposed an immediate ban on the export of lithium-ion battery black mass to strengthen its local recycling ecosystem. This decision aims to enhance domestic recovery of critical minerals, such as lithium and cobalt, which are vital for technology and energy sectors. The prohibition will ensure that battery waste generated in India is processed locally and improves utilization of recycling capacities.
India needs suitable evaluation matrix for awarding exploration and mining projects: NITI CEO
NITI Aayog CEO Anurag Jain underscored the development of an evaluation matrix for gold mining projects. The focus is on promoting technical competence and sustainable development of gold resources in India. Discussions revolved around improving geological data and regulatory approvals within the mining sector. The meeting also addressed the country's growing dependence on gold imports and limited exploration efforts.
Crude oil tanker carrying six Indian seafarers hit by projectile while transiting the Persian Gulf
On Tuesday, a Liberia flagged crude oil tanker was struck by a projectile in the Persian Gulf. Four crew members sustained injuries, including one Indian national who received minor injuries. The injured seafarer was taken ashore for medical examination while the remaining crew members are safe and accounted for. The Indian government is in close contact with the ship management company regarding the situation.
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.
European shares muted as investors assess AI outlook; banking stocks rally
European shares were subdued as investors assessed the fallout from last week's technology selloff and uncertainties surrounding AI investments. Banking stocks gained on merger developments and upbeat earnings, while mining shares advanced on higher precious metal prices.
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Vehicle registrations fall 24% in October on high base
Registrations of vehicles in October experienced a significant decline compared to the previous year's records. This drop was largely due to an earlier festive season that drove higher demand last year. Despite the decrease, certain vehicle segments like electric vehicles showed remarkable growth in registrations. The upcoming Dhanteras and Diwali festivities are expected to positively impact sales this month. Dealers remain cautiously optimistic about demand, especially in rural markets.
Copper price falls for 4th day, heads for worst week since March on AI rout
Copper prices have faced yet another decline, marking four consecutive sessions of decrease, primarily due to a dip in technology shares and rising concerns over artificial intelligence investments. The three-month copper rate on the London Metal Exchange fell to a low not seen since late July. While tight supply, particularly outside the US, has cushioned further losses, a significant drop in copper stocks within Chinese warehouses is intensifying supply anxieties.
Hindalco Q2 Results: Revenue jumps 39% YoY to Rs 91,708 crore; profit rises 59% on one-time gain
Hindalco Industries revealed a consolidated net profit of Rs 7,532 crore for Q2 of FY27, marking a rise of about 59% from Rs 4,741 crore last year. The company boasted a revenue from operations of Rs 91,708 crore, indicating a year-on-year growth of nearly 39%. This profit takes into account certain exceptional gains and deductions, although shares dipped slightly after the results were shared.
Adani Ports agrees to buy Dutch storage and terminal co Evos for $2.9 bn
All cash offer for Europe’s 2nd largest player is the company’s foray into Europe. The Iran war and supply disruptions across the hydrocarbons and chemicals value chain has forced countries and companies to seriously evaluate energy storage and logistics
'Gold’s rally is not just about wars, it’s fundamentally linked to $40 tn US debt': WGC India CEO Sachin Jain
World Gold Council India CEO Sachin Jain said gold’s rally is driven by rising US debt, de-dollarisation and central bank purchases, rather than geopolitics alone. He expects strong Indian demand during Diwali and recommends allocating 10-15% of financial assets to gold. Over the next five years, technology, tokenisation and blockchain could make gold more accessible, transparent and easier to trade.
Coal gasification projects may save India Rs 1.5 lakh crore in forex over 5-7 years: Coal Ministry Secretary
Coal gasification projects are expected to provide significant foreign exchange savings for India by substituting imports. The Coal Ministry has initiated financial incentives targeted towards promoting coal gasification. Responsible mining practices are emphasized to encourage sustainable development and investment in the coal sector.
These mid-caps have ‘strong buy’ & ‘buy’ recos and upside potential of up to 28%, according to analysts
Global markets on Wednesday celebrated the outcome of the US mid-term election as well as a sharp drop in oil prices. Oil prices, which at the end of last week were at about $118 to the barrel, are now under $95. The hope clearly is that Democrat control of both chambers of the US Congress will pressure the Trump administration to pursue a diplomatic end to the conflict with Iran in the Gulf.
Sarbananda Sonowal outlines plan to double coastal & waterway freight share to 12% by 2047
The Indian government is implementing initiatives to double the share of coastal and inland waterway shipping by 2047. The Coastal Cargo Promotion Scheme and the Cruise Bharat Mission are set to attract 1 million cruise passengers and create significant employment opportunities. Paradip Port Authority will develop the Puri International Cruise Terminal in collaboration with the Government of Odisha.
India needs indigenous technologies to ensure energy security: Union Minister G Kishan Reddy
At the NIT Raipur convocation, Union Minister G Kishan Reddy emphasized India's need for innovations in energy, mining, and healthcare. He noted significant growth in higher education infrastructure and international rankings over the past decade. Reddy mentioned government initiatives aimed at supporting research and development in technology sectors. He encouraged graduates to tackle real-world challenges in their fields over the next three years.
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.
Silver loses more than half its value from record high: What went wrong and will it recover?
Silver has plunged more than 58% from its February record high of nearly $120 an ounce to around $50, as profit-booking, weaker industrial demand and shifting macroeconomic conditions weigh on prices. Geojit’s Hareesh V explains what drove the rally, why it unravelled and what could shape silver’s recovery.
In 1882, a pipeline helped silver boomtown Candelaria, Nevada, grow to about 1,000 people; after the 1893 financial panic, it declined, and its post office closed in 1939
Candelaria emerged as a bustling boomtown in 19th-century Nevada, only to face dire water shortages. Although a dependable water pipeline was constructed in 1882, the town experienced significant decline following the economic downturn in 1893. This echoes the modern-day struggles of resource-dependent communities grappling with severe freshwater limitations, urging a reconsideration of sustainability strategies to prevent the vulnerabilities seen in Candelaria.
By 1909, copper had helped Swansea, Arizona, grow to about 500 people; financial trouble followed in 1911, and the last mine closed in 1937
Swansea, Arizona, once thrived as a mining community but became a ghost town after its abandonment in 1937. It flourished in the early 1900s due to copper discoveries, only to suffer economic decline later. Research highlights that boom-dependent communities often face economic hardships. Surprisingly, copper prices are soaring today, driven by the tech and electric vehicle sectors. Swansea's history reminds modern towns to tread carefully in the current copper market.
Coal India shares fall 3% after Q2 results; Jefferies, Motilal Oswal, others cut target price
Coal India shares fell 3% despite a 57% year-on-year rise in Q2 FY27 net profit to Rs 6,547 crore. Jefferies and JM Financial cut their target prices to Rs 460 and Rs 438, respectively, while Motilal Oswal retained its Buy rating with a Rs 450 target, citing a potential volume recovery.
Corporate demand for workers with green skills rises: LinkedIn report
Demand for workers with green skills is rising significantly in India, with 31 percent growth in hiring. Various industries are experiencing a shift towards hiring talent equipped with these green skills, as sustainability becomes a priority. Gen Z workers express a strong desire to contribute to combating climate change, but face challenges in finding green job opportunities.
Weak returns at home fuel India's overseas retail investing boom
Indian retail investors are increasingly venturing into global markets, significantly boosting their overseas investments. In response, domestic asset managers are introducing new funds to meet the rising demand for international exposure. With the Reserve Bank of India's limits on overseas investments nearing their cap, many investors are exploring tax-friendly locations like GIFT City.
Tata Projects secures order from GSFC for acid complex in Gujarat
The proposed complex will comprise a 600 metric tonnes per day (MTPD) phosphoric acid plant and a 1,800 metric tonnes per day (MTPD) sulphuric acid plant, along with associated utilities and offsite infrastructure.
Metals thrust, strong growth engines power Vedanta's stellar July-September
The metals-to-oil conglomerate's profit in Q2 was boosted by higher base metal prices. Vedanta attributed its robust Q2 show to higher commodity prices and favourable foreign exchange movements, among other things.
Weak domestic returns fuel India's overseas retail investing boom
Indian investors are turning to global funds as domestic market performance remains weak and opportunities abroad increase. A surge in overseas investments, particularly in AI-related assets, has been noted recently. Fund managers are launching various international funds to cater to this growing demand. Regulatory limits on overseas investments are in place, but tax-neutral hubs offer solutions.
Gold, silver prices crash up to 53% from January peak. Time to buy before Dhanteras, festive season?
Gold and silver prices have corrected sharply from their January peaks, raising questions about whether the fall offers a buying opportunity ahead of Dhanteras and the wedding season. Experts recommend staggered purchases over lump-sum investments, while highlighting interest rates, the US dollar, inflation and industrial demand as key drivers of prices.
Need more resilient energy supply chains amid growing global disruptions: Minister Naik
During the Singapore International Energy Week, India underlines the critical need for resilient energy supply chains. Union Minister Shripad Yesso Naik emphasizes diversifying energy sources to bolster security in the face of global disruptions.
Coal India’s H1 capex rises 27% to Rs 7,966 crore, beats target
Coal India Ltd has reported a capital expenditure increase of 27% to Rs 7,966 crore for the first half. The company surpassed its H1 target of Rs 7,286 crore, achieving 109% of the planned outlay. Significant investments focused on mine infrastructure development, land acquisition, and diversification initiatives. Over Rs 1,000 crore was spent on operational readiness of mining projects during this period.
Union Minister G Kishan Reddy to visit Australia to strengthen bilateral cooperation in critical minerals
During his visit to Sydney and Melbourne, the Minister will participate in various programmes and hold extensive discussions with government representatives, mining companies, research institutions and industry leaders from Australia and other countries.
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