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Oyster Renewable Energy partners with Jindal Stainless for a 282 MW wind-solar project, cutting annual CO2 by 700,000 tonnes.

Oyster and Jindals Green Energy Partnership

Oyster Renewable Energy teams with Jindal Stainless for a 282 MW wind-solar hybrid project. The initiative will reduce CO2 emissions by 700,000 tonnes annually, furthering India's net-zero goals.

Oyster Renewable Energy partners with Jindal Stainless to launch a 282 MW wind-solar project, cutting CO2 emissions by 700,000 tonnes annually.

Power producer Oyster Renewable Energy on Wednesday announced a partnership with Jindal Stainless to supply clean power to the stainless steel manufacturer.
The tie-up is a step towards decarbonising the industrial sector in India. It raises the bar for transition to low-carbon manufacturing and accelerates India's path toward achieving its net-zero ambitions, according to a statement.
"At the heart of this partnership lies a cutting-edge 282 MW interstate wind-solar hybrid project, strategically located across Bhuj (Gujarat) and Agar (Madhya Pradesh)," the statement said..
The project will combine 82 MW of wind plus 135 MWp of solar in Madhya Pradesh, as well as 99 MW of wind in Gujarat.
With this collaboration, Jindal Stainless has acquired a 33.64 per cent equity stake in Oyster Green Hybrid One Pvt Ltd, a Special Purpose Vehicle (SPV) promoted by Oyster Renewable.
The initiative is backed by a Rs 1,517-crore loan sanctioned by Indian Renewable Energy Development Agency (IREDA) and will operate under a 25-year group captive power purchase agreement (PPA), directly supplying clean power to Jindal Stainless' manufacturing operations.
This plant will significantly reduce dependence on conventional grid electricity and help reduce CO2 emissions by about 7 lakh metric tonnes annually, equivalent to planting 3 crore trees per year.

The US enacts 25% tariffs on steel and aluminum, sparking trade tensions with key partners like Canada and impacting markets.

US Steel & Aluminum Tariffs Escalate Trade War

The US enacts 25% tariffs on steel and aluminum imports, impacting global trade dynamics and causing market volatility.

US expands tariffs on steel and aluminum amidst global trade tensions

The US enacts 25% tariffs on steel and aluminum, affecting markets and key trading partners like Canada.

The United States broadened its slate of tariffs Wednesday as sweeping levies on steel and aluminum imports took effect "with no exceptions or exemptions" as promised by the White House -- despite countries' efforts to avert them.
President Donald Trump's 25 percent duties on both metals will likely add to the cost of producing anything from home appliances to automobiles and cans used for drinks, threatening to raise consumer prices down the road.
"It wouldn't surprise me to see the tariffs pretty quickly show up in prices," Cato Institute research fellow Clark Packard told AFP.
He added that auto manufacturing and construction -- spanning both residential and commercial buildings -- are among the biggest users of steel in the country.
Trump has imposed steep tariffs on major US trading partners Canada, Mexico and China since returning to office, allowing only a partial rollback for his country's neighbors while vowing fresh levies from April 2.
The latest duties will again impact Canada heavily, with the country supplying some 50 percent of US aluminum imports and 20 percent of its steel imports, according to a recent note by EY chief economist Gregory Daco.
Besides Canada, Brazil and Mexico are also key US suppliers of steel, while the United Arab Emirates and South Korea are among providers of aluminum.
Wednesday's levies stack atop earlier ones. This means some Canada and Mexico steel and aluminum products likely face a 50 percent tariff rate unless they are compliant with the US-Mexico-Canada Agreement (USMCA).
Uncertainty over Trump's trade plans and worries that they could tip the world's biggest economy into a recession have roiled financial markets, with Wall Street indexes tumbling for a second straight day on Tuesday.
But Trump has played down fears over his handling of the economy, saying Tuesday he does not see a downturn coming while dismissing losses on Wall Street.
'Bumpy' transition Trump's trade decisions have come with volatility, with the president threatening to double the tariff rate on Canadian steel and aluminum to 50 percent less than a day before the levies were due to kick in.
Canada's Ontario province had decided to impose an electricity surcharge on three American states in retaliation to earlier US levies, prompting Trump's furious response.
Washington and Ottawa swapped angry tariff warnings throughout the day as trade tensions surged, and Trump doubled down on provocative plans to annex his country's northern neighbor.
But Ontario halted the surcharge after talks with Washington.
White House spokesman Kush Desai said Trump "used the leverage of the American economy" in order to "deliver a win for the American people."
Ontario Premier Doug Ford, US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer are set to meet in Washington Thursday "to discuss a renewed USMCA ahead of the April 2 reciprocal tariff deadline," according to a US-Canada joint statement.
Asked about Trump's oscillation on tariffs, White House senior counselor Peter Navarro told reporters that the process was "a negotiation."
"It is a transition," he added. "It's going to be at times, perhaps a little bumpy."
Massive uncertainty Even before the latest tariffs took effect, manufacturers have scrambled to find cost-effective domestic suppliers.
The mere threat of protectionism, Packard said, has allowed US steel and aluminum firms to raise their prices.
"It's creating massive amounts of uncertainty," he added.
Some US manufacturers using American steel consider the tariffs a positive development as these have boosted their business.
But others warn that tariffs merely add to the cost of imports while allowing US-made goods to become equally expensive.
Daco of EY also noted that the new steel and aluminum levies go further than measures Trump imposed in 2018 -- covering a range of finished products atop of raw steel and aluminum.
There is also a higher rate on aluminum imports this time and with duties layering onto existing restrictions this is "likely to make foreign sourcing more expensive across multiple industries."
The lack of exemptions Wednesday also comes despite US partners like Australia and Japan visiting Washington in recent days to push for exclusions.
Australian Prime Minister Anthony Albanese said Wednesday the tariffs were "entirely unjustified" but that his country would not retaliate.
It is unclear if Trump will, as he did in his first administration, eventually grant relief to some countries and cut deals with others.
Looking ahead, Trump has vowed separate reciprocal levies as soon as April 2 to remedy trade practices Washington deems unfair, raising the potential for more products and trading partners to be specifically targeted.

Steel Minister refuted the concerns on SAIL raised by West Bengal (WB) Finance&nbsp;Minister&nbsp;Amit Mitra&nbsp;stating that there are&nbsp;there are no plans to terminate any employee of state-owned SAIL or reduce its headcount.
In a letter&nbsp;Union steel minister Dharmendra Pradhan&nbsp;told Mitra&nbsp;that "There is no plan to terminate or reduce employee strength of the company. SAIL, a responsible employer, will continue to take care of its employees. I hope that clarifies the position as regards to your apprehensions".
On Wednesday, Mitra had requested the steel minister to intervene and stop the dismantling of Raw Materials Division (RMD) of&nbsp;Steel Authority of India Limited in Kolkatta.&nbsp;SAIL&rsquo;s raw material division, headquartered in Kolkata, runs 15 mines including iron ore mines, flux mines and coal mines.

West Bengal SAIL units not be undermined: Steel Minister tells Amit Mitra 

Steel Minister writes to Amit&nbsp;Mitra&nbsp;assuring that SAIL employees and business interests will be protected.&nbsp;

<ul>
<li>Steel Minister says SAIL will not reduce headcount&nbsp;</li>
<li>Steel Minister Pradhan&nbsp;writes letter to WB FM Amit&nbsp;Mitra</li>
<li>Pradhan&nbsp;to Mitra: Hope this clarifies position to your apprehensions</li>
<li>Mitra&nbsp;had requested Steel Min to stop any change in plan in SAIL</li>
</ul>

Steel Minister refuted the concerns on SAIL raised by West Bengal (WB) Finance&nbsp;Minister&nbsp;Amit Mitra&nbsp;stating that there are&nbsp;there are no plans to terminate any employee of state-owned SAIL or reduce its headcount.
In a letter&nbsp;Union steel minister Dharmendra Pradhan&nbsp;told Mitra&nbsp;that "There is no plan to terminate or reduce employee strength of the company. SAIL, a responsible employer, will continue to take care of its employees. I hope that clarifies the position as regards to your apprehensions".
On Wednesday, Mitra had requested the steel minister to intervene and stop the dismantling of Raw Materials Division (RMD) of&nbsp;Steel Authority of India Limited in Kolkatta.&nbsp;SAIL&rsquo;s raw material division, headquartered in Kolkata, runs 15 mines including iron ore mines, flux mines and coal mines.

Steel prices are likely to see a hike of &nbsp;Rs 3,250-10,000/t across flat&nbsp;steel/coated products in India in the coming week&nbsp;as per channel checks done by brokerage house Morgan Stanley.&nbsp;This price hike would make domestic prices come closer to the price of imported steel which is still about 5% higher. &nbsp;Domestic hot-rolled coil (HRC) prices are at a multi-year high of Rs 67,000 per tonne in February from Rs 39,200 per tonne in March 2020. Since October, prices of HRC have increased by about 54% but still trail the global steel rally.&nbsp; Landed cost of HRC (hot rolled coil) from China still remains higher at Rs 77,000 a tonne and seen a big rally over the last two sessions.
This translates to bad news for steel input users such as the auto companies that are seeing input cost pressures rise in a low demand period. Auto makers had begun to pass on the cost to customers via price hikes in April but room for increases remain limited in the current weak demand phase. 

Steel price hike coming, bad news for auto companies

Steel stocks see profit booking, Channel checks suggest price hike coming this week as global steel prices continue to rally.&nbsp;

Steel stocks see profit booking, price hike on the anvil

Steel prices are likely to see a hike of &nbsp;Rs 3,250-10,000/t across flat&nbsp;steel/coated products in India in the coming week&nbsp;as per channel checks done by brokerage house Morgan Stanley.&nbsp; This price hike would make domestic prices come closer to the price of imported steel which is still about 5% higher. &nbsp;Domestic hot-rolled coil (HRC) prices are at a multi-year high of Rs 67,000 per tonne in February from Rs 39,200 per tonne in March 2020. Since October, prices of HRC have increased by about 54% but still trail the global steel rally.&nbsp; Landed cost of HRC (hot rolled coil) from China still remains higher at Rs 77,000 a tonne and seen a big rally over the last two sessions.
This translates to bad news for steel input users such as the auto companies that are seeing input cost pressures rise in a low demand period. Auto makers had begun to pass on the cost to customers via price hikes in April but room for increases remain limited in the current weak demand phase.

The government has reportedly proposed to slash import duties on steel items to zero or near-zero levels.
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in a bid to help the user industry hit hard by rising price of the metal in the domestic market.
The lower import duties would help maintain supply lines affected by several domestic steel companies reducing steel production to divert medical grade oxygen for Covid-19 relief measures.&nbsp;

Steel import duties may be cut to zero as prices jump 50%

Steel prices are now at multiyear high with no easing in sight, Govt is now looking at waving import duty to ease price pressures on user industries.&nbsp;

The government is set to propose slashing import duties on steel items to near zero levels as per reports.&nbsp;
A decision had been taken to review duties on steel products and reduce or withdraw them altogether in an effort to help the user industry which has been hit hard by rising price of the metal in the domestic market. Domestic hot-rolled coil (HRC) prices rallied to a multi-year high of Rs 56,000 per tonne marking a&nbsp;a jump of over 50 per cent in last 13 months.
&nbsp;

Sensex ends 162 points in green, Nifty at 11,937

After a highly volatile session influenced by the European markets, Indian equity benchmarks ended in the green on Wednesday.
The Sensex&nbsp;ended 162 points up at 40,707 and the Nifty closed at 11,937, 0.34% higher.
Powergrid, Bharti&nbsp;Airtel, Tata&nbsp;Steel, Hindalco and GAIL were the top five Nifty gainers.
The rupee depreciated 9 paise to settle at 73.58 against the US dollar.
&nbsp;

40,707.31 +162.94 +0.40%
11,937.65&nbsp; 40.85 (0.34%)

After a highly volatile session influenced by the European markets, Indian equity benchmarks ended in the green on Wednesday.
The Sensex&nbsp;ended 162 points up at 40,707 and the Nifty closed at 11,937, 0.34% higher.
Powergrid, Bharti&nbsp;Airtel, Tata&nbsp;Steel, Hindalco and GAIL were the top five Nifty gainers.
The rupee depreciated 9 paise to settle at 73.58 against the US dollar.
&nbsp;

Sensex, Nifty start the week with high volatility

Indian equity markets were very volatile in the opening session on Monday amid mixed Asian peers.
At 9:20 am the Sensex was 33 points in the green at 38,390 and the Nifty was trading 0.29% up at 11,367.
Infratel, Tata&nbsp;Motors, Hindalco, DRL and Tata&nbsp;Steel were the top Nifty gainers. Whereas M&amp;M, Kotak&nbsp;Mahindra&nbsp;Bank, Zee, HDFC&nbsp;Bank and UPL were the top losers.

11,367.15&nbsp; 33.30 (0.29%)
38,390.46 +33.28 +0.09%

Indian equity markets were very volatile in the opening session on Monday amid mixed Asian peers.
At 9:20 am the Sensex was 33 points in the green at 38,390 and the Nifty was trading 0.29% up at 11,367.
Infratel, Tata&nbsp;Motors, Hindalco, DRL and Tata&nbsp;Steel were the top Nifty gainers. Whereas M&amp;M, Kotak&nbsp;Mahindra&nbsp;Bank, Zee, HDFC&nbsp;Bank and UPL were the top losers.

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