Chem / Fertilisers
Amara Raja Batteries rechristened Amara Raja Energy & Mobility Limited
This strategic change underscores the company's commitment to its new role as a comprehensive solutions provider in the energy and mobility sector, the battery maker said in a press release. Company Chairman and Managing Director Jayadev Galla said, "Over the past three years, we have made significant investments in our in-house R&D capabilities and have strategically partnered with companies at the forefront of new energy technologies.
Chemical sector in India needs to be more self-reliant, say industry stakeholders
The Industry Connect meeting on 'Chemical Synergy: Bridging Industries with Synthetic Expertise,' was organised by CSIR-National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) on its campus at Pappanamcode near here today. ElixGlobal mentor Srinivas Lanka and Crystal Crop Protection Ltd., VP-R&D, Rajeev R Jha, were the guests of honour at the function, which also featured Ambernath Organics Pvt Ltd managing director Santosh Nandan.
India counting on potash supplies despite diplomatic row with Canada: Officials
India is expected to have no difficulty in obtaining potash from foreign suppliers, despite strained relations with Canada, according to industry and government officials. Although ties between India and Canada have deteriorated, potash supplies from Canada have remained steady. India does not rely solely on Canada for potash, as it has a diversified list of global suppliers.
Dharani Sugars' promoter gets another chance to win it back
The Supreme Court had stayed a liquidation order of the sugar maker given by the National COmpany Law Tribunal (NCLT). The National Company Law Appellate Tribunal, too, had upheld the NCLT order. Lenders did not receive any counteroffer for the ₹222.5 crore binding offer by NARCL, which triggered a Swiss challenge auction held on September 18.
Carbon black demand expected to grow at a rate of 5-6 per cent: PCBL
Phillips Carbon Black Ltd (PCBL) projects that the demand for carbon black in India will grow at a rate of 5-6% due to the expansion of the tyre industry and favorable macroeconomic factors. The Indian tyre industry is expected to experience significant growth in the coming years, driven by increased demand, reduced imports, and government policies.
China slows fertiliser exports, raising industry concerns in India
China has halted exports of urea, a key fertilizer, due to a surge in prices, resulting in around 500,000 metric tons being held up at Chinese ports. This is causing delays and potential shortages for buyers such as India. China is the world's largest producer of urea and accounts for a third of global supplies. Chinese state-owned producers are prioritizing domestic supply, and port inspections for urea cargoes have been suspended. The curbs are expected to raise global prices and increase spending by countries reliant on imported urea.
Anupam Rasayan appoints Gopal Agrawal as Chief Executive Officer
Specialty chemicals manufacturer Anupam Rasayan appointed Gopal Agrawal as its Chief Executive Officer (CEO) with effective from September 11. Agrawal, a chartered accountant was earlier the MD and head of the Investment Banking business at Edelweiss.
Indian agro-chemical industry can grow over 9 pc notwithstanding Chinese competition: Niti Aayog
India's agro-chemical industry has the potential to grow beyond its current rate of nine percent, despite competition from China, according to Niti Aayog member Ramesh Chand. He suggested that the industry should pay attention to the shift from agrochemicals to biopesticides in Western countries. Chand also urged the Agro Chem Federation of India (ACFI) to create a document on the ease of doing business in agrochemicals. He noted that despite disruptions caused by the Covid-19 pandemic, the domestic agrochemical industry has shown impressive growth.
A new twist in the Kalyani-Hiremath legal battle; younger brother could lead to Baba losing 34% stake in Hikal
A new twist in the legal battle between Bharat Forge CMD Baba Kalyani and his sister Sugandha Hiremath for a stake in Hikal continues is Gaurishankar, who is required to transfer his 3% stake in Bharat Forge to Baba after their parent's demise. However, this would also mean Baba has to give up a 34% stake in Hikal to his sister.
Fix fair, remunerative price of Rs 5.5/kg for fermented organic manure: Indian Biogas Association
The Indian Biogas Association (IBA) has recommended a fair and remunerative price of Rs 5.5 per kg for fermented organic manure (FOM), excluding the government incentive of Rs 1.5 per kg, to support biogas plants in the country. The IBA has suggested that the Ministry of Chemical and Fertilizer administer a fair market price for FOM, with an additional allowance for logistics and transportation charges.
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Adequate availability of fertilisers for kharif sowing; states must act against diversion of urea: Mandaviya
Indian Union Chemicals and Fertilizers Minister Mansukh Mandaviya has assured that there is enough supply of fertilizers in the country for the ongoing kharif season. He also urged states to reduce the excessive use of chemical fertilizers. State agriculture ministers from various states and senior officers attended the meeting.
L&T bags contract worth up to ₹2.5k cr for Australia's Urea Plant
Larsen & Toubro on Monday said its energy hydrocarbon business has bagged a contract from the Saipem & Clough JV (SCJV), Australia, for fabrication and supply of process and pipe rack modules for a 2.3 mmtpa urea plant for Perdaman Chemicals and Fertilisers. The value of the order is between ₹1,000 crore and ₹2,500 crore.
Insecticides India to invest Rs 150 cr in next 2 yrs on capacity expansion in Rajasthan, Gujarat
The company posted 24 per cent drop in its consolidated net profit at Rs 29.14 crore for the first quarter of 2023-24. Aggarwal cited that high inventory cost owing to a sharp rise in global prices of key raw materials led to a decline in profits in the last two quarters. However, the company expects to perform better as international prices have started cooling down lately.
Disinvestment of Fertiliser sector PSUs unlikely in FY24: ET NOW sources
ET NOW Exclusive | Disinvestment of Fertiliser sector PSUs unlikely in FY24, as per sources. What are the hurdles coming to the fore? ET NOW's Priyadarshi explains the entire timeline and issues
Hikal discloses family pact of promoters to meet Sebi norms
Last month, Sebi made it mandatory for promoters of all listed companies to disclose to the stock exchanges all their active family settlement agreements or arrangements that have a bearing or influence on management control of the company.
Chemicals-petrochemicals firms must focus on quality, global competitiveness: Mansukh Mandaviya
Mandaviya said he has given direction for establishing chemical parks for making India an investment hub and added that "the work is happening in this regard".
