MINING REVENUE
India needs to develop mineral strategy for the entire value chain, from exploration to recycling
From FY19 to FY24, India's mineral production growth has stagnated, with many major minerals seeing only single-digit growth or decline, per an SBI Research report. To unlock its mineral potential, India must overhaul its value chain—from exploration to recycling—alongside comprehensive fiscal reforms, enhancing competitiveness and fostering sustainable economic growth.
Metal & Mining stocks: Same yet different, time to shed bias & watch for global signs. 5 stocks, 2 with an upside potential of up to 27%
In the last three months of volatility which nifty, sensex and broader market have witnessed there are some sectors which have shown a streak of out performance. They haven't fallen as much as nifty when the index was going down and pretty much moved in tandem with the index when it moved upward. Amongst many sectors metal has been one of them. There has to be a reason for this relative performance. In the case of metals stocks, there are some minor indications of improvement in the Chinese economy which have been keeping the metal prices stable. Question arises that if metal stocks have been stable, shouldn't be mining stocks, which also pretty much follow the same path of outperformance and be on watchlist because at the end of the day mining is a critical part of the whole supply chain.
India imposes anti-dumping duties on three Chinese products
On hydraulic rock breakers, the duty ranged between 4.55 per cent and 162.5 per cent of CIF (cost, insurance, freight) value in US dollars. The duty was also imposed on these goods coming from Korea. These breakers are used in the construction and mining industry for carrying out demolition, excavation, mining and boulder breaking activities.
View: India's path to developed economy status hinges on natural resource management
India's natural resources sector faces import challenges but holds potential for growth and self-sufficiency. Strategic management, revenue reinvestment, and resource diversification can drive economic development and sustainability, aligning with global trends towards renewable energy and efficient resource utilization.
Only a third of critical mineral blocks find buyers
A company which offers to share the highest percentage of its revenue earned through sale of extracted minerals with the state governments - called the auction premium - wins the bid.
Adani group firm Ambuja Cement bags 24 limestone mines in FY24
Ambuja Cements, a subsidiary of the Adani group, has won 24 bids for new limestone mines with a total resource of 587 million tonnes. The company aims to have a capacity of 140 million tonnes per annum by 2028, with sufficient cash to achieve this through brownfield expansion and acquisitions. The company recently acquired Hyderabad-based Penna Cement, adding 14 MTPA to its capacity to 89 MTPA.
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Vedanta mulls 1st dollar bond sale of $500 million
The bond sale could climb to $1 billion depending on the response from investors, according to one of the people. The company is also exploring other avenues of fundraising, including equity sales and local currency loans from domestic banks, the people said.
Centre asks Telangana govt to auction at least six mineral blocks by Jun 30
The mines ministry has criticized Telangana for not auctioning any mineral blocks in the past nine years and urged the state to initiate auctions for at least six mines by month's end. Despite reminders, Telangana hasn't auctioned any of the eleven blocks provided, prompting the ministry to warn of initiating the auction process itself.
Investors can look to bet on rural consumption and housing theme: Sunil Subramaniam
We may think that even NREGA subsidies could go up a little bit. So, I think the budget will give a clearer direction. But we do know that given the fact that the election results were not to the kind of expectations of the government itself, they will be trying to fix those problems. And from what we can see that two or three big states in north, UP, Haryana, then the Maharashtra, where the results were not to their liking, you would see that that is a farming belt, the UP is a sugarcane belt, Maharashtra is a sugarcane belt, so definitely you will see action around minimum support prices, you will see action around NREGA flows in there.
PSU stocks expected to trade sideways for next six months: Digant Haria
We do not have the view that this government will go into a lot of freebies because if freebies was the only thing, then BJP should not have won Odisha and then Jagan should not have lost Andhra Pradesh or Chandrababu Naidu should not have been able to win Andhra Pradesh because the maximum freebies were given in that state and minimum freebies were given in Odisha which is even poorer state than Uttar Pradesh in terms of per capita.
Coal India's contribution to govt exchequer drops 2.2 per cent to Rs 9,560 crore in April-May
Coal India Ltd's contribution to the government's exchequer decreased by 2.2% to Rs 9,560.28 crore in April-May of the current fiscal year, down from Rs 9,777.64 crore in the previous year. Total levies paid to the government in May rose to Rs 4,763.20 crore. State governments receive revenue from coal production through royalties, GST, and other levies, with Jharkhand and Odisha receiving the highest amounts.
Cryptoverse: Miners trudge through post-halving world
Bitcoin miners face challenges with halved mining rewards, increased difficulty, and competition from ETFs. Marathon Digital and Riot Platforms have seen stock drops amid bitcoin's price surge.
Optic fiber cable component maker Runaya aims to grow rev to Rs 500 cr over next 3-4 years
The transition to 5G and the associated infrastructure upgrades are driving this demand, with the global market for fiber optic cables expected to grow from $9.2 billion in 2021 to over $12 billion by 2024, representing a compound annual growth rate (CAGR) of 10%, according to estimates by the company.
Nalco Q4 Results: Profit jumps two-fold YoY to Rs 996.7 cr
State-owned Nalco on Monday reported two-fold rise in consolidated profit to Rs 996.74 crore for the March quarter on the back of lower expenses. The company had posted a consolidated profit of Rs 495 crore in the March quarter of FY23, National Aluminium Company Ltd (Nalco) said in a filing to the BSE.
Hindalco raises FY25 capex target to ₹6,000 crore
Earlier this year, Hindalco said it would spend ₹5,000-5,500 crore on capex in FY25. In FY24, it spent about ₹4,200 crore.
21 international organisations write to CJI for speedy resolution of Adani coal imports case in SC
The letter comes after a report by the London-based Financial Times, citing documents from George Soros-backed Organized Crime and Corruption Reporting Project (OCCRP), alluded to a "fraud" by the Adani Group by selling low-grade coal as high-value fuel in 2013.
Balkrishna Industries off-roading well in India & US, Europe to give traction
Balkrishna Industries’ global peers have cut down production as their revenue fell by around 10% in the March quarter, but Balkrishna’s volume grew by 12.9% year-on-year to 82,085 tonnes in the period — the highest in eight quarters.
Chabahar Port to reduce Afghanistan’s dependence on Karachi: Kabul
The Taliban has welcomed India's 10-year management rights over Iran's Chabahar Port, viewing it as an alternative to Pakistan's Karachi Port. They support the port's expansion, which they believe will enhance economic stability and benefit Afghanistan. The Afghanistan-India trade in 2023 reached $773 million. The Afghanistan Chamber of Industries and Mines sees increased investment in Chabahar as beneficial for regional trade. A special zone for Afghan traders at Chabahar Port further facilitates export and import activities.
Hindustan Zinc makes a new high on silver rally
Silver is a byproduct of zinc mining, and Hindustan Zinc achieved record-high saleable silver production of 746 metric tonnes, up 5% year-on-year in FY24 while its zinc production remained stagnant at 8,17,000 metric tonnes.
Balkrishna Industries shares jump 5% post Q4 results
Balkrishna Industries Share Price: Shares of BKT surged 5% on Saturday to its fresh 52-week high of Rs 2,798.95 supported by the company’s solid fourth quarter performance. Its net profit soared 88% while revenue jumped 16% to Rs 2,697 crore on the back of a sales volume of 82,085 MT.
BEML shares surge 13% after Q4 results impress
BEML shares surged 13% on BSE to Rs 3,636 as it reported a 62% YoY profit increase for Q4FY24, reaching Rs 256.8 crore, alongside a revenue rise and dividend declaration.
Akshay Tritiya: Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers report strong sales
Jewellers from South India such as Malabar Gold & Diamonds, Bhima Jewellers, and Kalyan Jewellers saw strong demand during this year's Akshay Tritiya. Malabar Gold and Diamonds reported a 39% increase in sales, totaling Rs. 1361 crore. Kalyan Jewellers also noted robust revenue growth, with Bhima Gold experiencing over 50% sales growth compared to last year.
Q4 results today: SBI, Asian Paints among 69 companies to announce earnings
Q4 results today: On Thursday, State Bank of India (SBI), the foremost public sector lender in India, will be among the 69 companies set to unveil their financial results for the quarter ending March 2024. Investors will also keep a close eye on companies like Asian Paints, BPCL, and Indian Overseas Bank as they announce their results.
Sandur Manganese to foray into speciality steel with buyout of Arjas Steel
Sandur Manganese will be buying an 80% stake in the company at an enterprises value of Rs 3,000 crore. It will spend around ?2,400 crore through a mix of equity and debt to buy Arjas Steel, of which around 25-30% will be debt.
FY25 to be transformative year, says Vedanta's Anil Agarwal
"These include further deleveraging (parent) Vedanta Resources by USD 3 billion in the next 3 years and achieving an annual group EBITDA of USD 7.5 billion within 2 years," he said.
Bhutan to upgrade Bitcoin mining in Himalayas as 'halving' looms
The partnership between Druk Holding & Investments and Nasdaq-listed crypto mining firm Bitdeer aims to invest in boosting Bhutan’s mining capacity sixfold through the introduction of cutting-edge hardware.
Vedanta commences mining in Goa's Bicholim block
Vedanta initiates mining operations at the Bicholim mineral block in Goa, marking the resumption of mining after a hiatus since the Supreme Court's lease cancellations in 2018. The move signals a collaborative effort between Vedanta and Goa, aiming for progress, prosperity, and community welfare through increased revenue share.
Results of ninth coal auctions within two weeks, says coal ministry official
As many as 32 coal mines were put into action in the 9th round. "It will take another two weeks to announce the results of the 9th round. Within it, it will be announced," the official told PTI. As per official information, a total of 40 bids have been received in offline form.
Constitution doesn't give Parliament entire universe on mines and mineral development: SC
Entry 54 of List 1 of the 7th Schedule (union list) talks about "Regulation of mines and mineral development to the extent to which such regulation and development under the control of the Union is declared by Parliament by law to be expedient in the public interest."
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