Market News Today

Westlake Corporation is aiming to increase PVC prices in the US by 5 cents/lb (approximately USD 110/MT) effective January. Separately, the company plans to cease operations by end-December 2025 at multiple units located in Lake Charles, Louisiana, USA. This includes its Vinyl Chloride Monomer (VCM) plant with a capacity of 413,000 tons per year, and the diaphragm Chlor-Alkali plant at the south site, which has a capacity of 374,000 tons per year of chlorine and 413,000 tons per year of caustic soda. In addition, Westlake also intends to shut down its Styrene unit at the same location by end-December 2025. The styrene facility has a production capacity of 570 million pounds per year.

AM Green and Mitsui signed an MoU for a low-carbon aluminium partnership. Mitsui will explore investing in AM Green's 1 MTPA green aluminium smelter and 2 MTPA alumina refinery, powered by renewables. AM Green targets 1 MTPA green aluminium by 2030.

Readily Mobility plans an IPO of ~INR 100 crore, valued at INR 700-750 crore, to expand its 700-800 MW solar commissioning and O&M portfolio in India, including rooftop solar, strengthening its clean-energy after-sales platform.

Bombay HC ordered SRA, MHADA to ensure timely rent payments to allottees, acting on 67 petitions. Developers must deposit two years' rent, with 10-20% free-sale tenements frozen for defaults. SRA recovered Rs 800 crore.

ACME Solar secured INR 4,725 crore debt for renewable projects. This includes INR 2,716 crore from PFC for a 300 MW project and INR 800 crore from NaBFID for a 150 MW project. INR 1,209 crore was refinanced via Yes Bank, cutting costs by 170-195 bps.

MahaRERA aided 13 Goregaon homebuyers facing project delays, ordering promoters to register sale agreements. Buyers can get refunds (excluding statutory charges) or monthly interest for delayed possession, reinforcing accountability in Mumbai's real estate sector.

AMFI's 'Mutual Funds Sahi Hai' campaign transforms Mumbai's Andheri Metro Station, reaching 1.8 lakh daily commuters with financial education. This initiative uses urban infrastructure for investor awareness, embedding messages across the station to promote goal-based investing.

Andheri West road, caved-in due to a 1980s sewer line 9m deep, reopened December 17 after over six weeks. The repair near the metro station eased traffic but raised concerns about urban infrastructure and repair timelines.

Navi Mumbai International Airport begins commercial flights December 25 with one runway and terminal. It aims to ease Mumbai airport congestion, support regional growth, and plans for a third runway, boosting urban and economic transformation.

CERC approved a ₹3.97/kWh tariff for SECI’s 300 MW wind power project, awarded to Torrent Green Energy. A ₹0.07/kWh trading margin was also allowed, following a competitive bidding process for 600 MW capacity.