Market News Today

IRFC launched 'IRFC 2.0', diversifying beyond railway financing by signing a ₹4,200 crore term loan agreement with DVC for renewable energy projects in Jharkhand and West Bengal.

Indian Railways approved Rs 223 crore to install the Kavach 4.0 automatic train protection system across 614.75 route km in the Varanasi Division to enhance passenger safety.

Indian Railways has approved Rs 122 crore for the 6-km Barbil-Bolanikhadan rail doubling project to boost freight capacity.

The Tamil Nadu government withdrew its order exempting the law-and-order department from the Right to Information Act, 2005, following severe political and public backlash over potential transparency losses.

India’s aluminium market remains firm but volatile as Gulf supply disruptions and historically low exchange inventories support global prices, while smelter restarts and rising Chinese output limit upside. Domestic aluminium prices are also being influenced by a weaker rupee, with MCX aluminium at ₹349.40/kg on 29 September.

India’s SECI has invited bids for a 10-year contract to supply 54,000 metric tons per year of green ammonia, marking a significant step in the nation's clean energy and production sector.

Chemplast Sanmar has resumed operations at its Karaikal EDC plant following the provisional revocation of a previous shutdown order, while awaiting final regulatory clearance.

India Pesticides secured UK and Argentina product approvals, despite reporting a 9.2% revenue decline to 2.5 billion rupees and a 34% drop in net profit for the fiscal first quarter.

India’s stainless steel market remained rangebound in the week ended 25 September, with 304 scrap prices unchanged while 316 scrap gained on tighter availability. Importers continue to face PSIC-related processing constraints and additional costs, while the six-month extension of the anti-dumping investigation on stainless steel cold-rolled flats from China, Indonesia and Vietnam adds uncertainty to import planning.

India’s pipe market remains firm, with MS ERW prices supported by elevated HRC costs and improving post-monsoon infrastructure activity. DI pipes continue to face tighter supply conditions, while government water projects and large energy/infrastructure orders are sustaining demand. Near-term prices are expected to remain firm, although competitive supply in MS ERW and imports could limit sharp gains. (nexizo.ai)