Author: Sreelatha M

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Corporate

Coal India’s CMPDI launches Rs 1,842 cr IPO, March 20

Investors now have the chance to buy shares in Central Mine Planning & Design Institute Limited (CMPDI), a key subsidiary of Coal India Limited, as its IPO opens on March 20, 2026. The offer will remain open until March 24, giving retail and institutional investors a four-day window to participate.

This IPO is structured entirely as an offer for sale (OFS), meaning Coal India and the Government of India are selling part of their stakes. The price band is set between ₹163 and ₹172 per share, and the total issue size is around ₹1,842 crore. A portion of shares is also reserved for eligible employees and existing shareholders.

CMPDI, based in Ranchi, Jharkhand, plays a vital role in India’s coal sector. It provides services like mine planning, mineral exploration, environmental consultancy, and safety assessments, helping keep India’s coal production efficient and sustainable.

The market is watching CMPDI closely. Earlier this year, Bharat Coking Coal Limited, another Coal India subsidiary, saw strong demand in its IPO, giving investors confidence about the prospects for CMPDI. Analysts expect interest from long-term investors looking to own a part of a public sector company with a strategic role in India’s energy infrastructure.

Also Read: Tejas Networks wins 4G expansion deal

 

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Corporate

NBIS jumps after $27bn Meta AI deal

Shares of Nebius Group (NASDAQ: NBIS) surged Monday after the company announced a huge deal with Meta Platforms to provide advanced AI computing infrastructure. The multi-year agreement could be worth as much as $27 billion, highlighting how tech giants are racing to secure the computing power needed for artificial intelligence.

The deal guarantees that Nebius will supply at least $12 billion in AI capacity starting in 2027, with options for Meta to buy even more as its AI projects grow. The infrastructure includes state-of-the-art GPU systems and clusters spread across Nebius data centers, designed to handle the heavy demands of next-generation AI models.

Investors reacted enthusiastically, sending Nebius shares up roughly 13–15 % in early trading. The stock jump reflects confidence in Nebius as a key player in the booming AI cloud market.

This isn’t the first time Meta and Nebius have teamed up. They previously worked on a smaller AI project, and Nebius also counts Microsoft among its major clients. Nvidia has also invested $2 billion in the company, strengthening its position as a leading provider of AI infrastructure.

While the capacity won’t be fully available until 2027, the partnership is a clear signal of Meta’s commitment to AI and its strategy to secure the resources necessary for its future projects. For Nebius, it’s a major win that positions the company at the heart of the AI revolution.

Also Read: Jensen Huang projects $1 trillion AI revenue by 2027

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Corporate

Reliance, Samsung C&T sign $3 bn green ammonia deal

Reliance Industries Limited (RIL) has signed a long-term agreement with Samsung C&T Corporation to supply green ammonia in a deal valued at more than $3 billion. The 15-year supply contract is expected to begin in the second half of fiscal year 2029.

The agreement is considered one of the largest long-term green ammonia supply deals globally and reflects rising demand for low-carbon fuels as countries and companies work to reduce carbon emissions.

Under the agreement, Reliance will produce and supply green ammonia using hydrogen generated from renewable energy sources. Green ammonia is produced by combining green hydrogen with nitrogen from the air, creating a low-carbon alternative to conventional ammonia that is typically made using fossil fuels.

The fuel is increasingly seen as an important solution for decarbonizing hard-to-abate sectors such as shipping, power generation, and heavy industry. It can also be used as a carrier for hydrogen, making it easier to transport and store clean energy across long distances.

The supply will support energy transition initiatives in countries like South Korea and Japan, which are exploring cleaner fuels to cut emissions from industrial operations and electricity generation.

The agreement is part of Reliance’s broader strategy to build a large-scale clean energy ecosystem. The company is developing an integrated new energy platform that includes renewable power generation, battery storage, green hydrogen production, and downstream fuels such as green ammonia.

Reliance is also investing in domestic manufacturing of key clean energy technologies, including solar modules, energy storage systems, and electrolysers used in hydrogen production. These investments are aimed at creating an end-to-end supply chain for clean energy products.

Also Read: Japan releases emergency oil reserves

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Beyond

Global oil prices jump over 2%

Global oil prices rose by more than 2% on Tuesday as growing tensions in the Middle East increased fears of disruptions to global energy supplies. Markets reacted to the ongoing conflict involving Iran and the risk it poses to oil shipments passing through the Strait of Hormuz, one of the world’s most important energy routes.

Benchmark crude prices moved sharply higher during trading. Brent crude climbed to around $102–$103 per barrel, while U.S. West Texas Intermediate (WTI) crude approached $96 per barrel. The increase reflects rising concerns among traders that the conflict could restrict oil exports from the Gulf region.

The Strait of Hormuz is a crucial shipping corridor connecting major oil-producing countries in the Middle East to global markets. Nearly one-fifth of the world’s oil supply normally moves through this narrow passage. Any disruption in the route can quickly affect global oil availability and push prices upward.

Recent developments in the region have heightened market anxiety. Reports of attacks targeting shipping and energy infrastructure near key Gulf oil hubs have raised fears that the conflict could expand and further disrupt supply chains. The situation has also slowed tanker movement in the area, creating uncertainty for exporters and buyers.

Some Gulf producers have already been affected by the disruption. Reduced shipments and logistical challenges have forced certain producers to scale back production temporarily. This has added to concerns that global oil supplies could tighten if the conflict continues.

Energy analysts say the situation remains highly uncertain and markets are reacting to the risk of further escalation. If tensions persist or shipping through the Strait of Hormuz remains restricted, oil prices could remain volatile in the coming weeks.

There are also discussions among major energy organizations about possible measures to stabilize the market. One option being considered is the release of oil from strategic reserves to offset potential supply shortages.

The Middle East plays a central role in global energy supply, and prolonged instability in the region can have wide economic impacts. Higher oil prices could increase fuel costs and add inflationary pressure in many countries.

Also Read: Rupee settles at 92.42 against US dollar

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Beyond

Gold at ₹1.57 lakh, Silver at ₹2.69 lakh

Gold and silver prices in India witnessed a slight decline on March 17, with both precious metals slipping marginally in domestic markets. The fall comes amid mixed global cues, as investors remain cautious while monitoring geopolitical developments and economic signals influencing bullion prices.

According to market data, the price of 24-carat gold dipped by ₹10 to ₹1,57,410 per 10 grams, while 22-carat gold also fell by ₹10 to ₹1,44,290 per 10 grams. Meanwhile, silver prices declined by ₹100, bringing the rate down to ₹2,69,900 per kilogram. Despite the minor drop, prices continue to remain at relatively high levels and are moving within a narrow range in recent sessions.

City-wise rates show minor variations across major markets. In Delhi, 24-carat gold was priced at ₹1,57,560 per 10 grams, while 22-carat gold stood at ₹1,44,440 per 10 grams. In cities such as Mumbai, Kolkata, Bengaluru and Hyderabad, 24-carat gold was trading at ₹1,57,410 per 10 grams and 22-carat gold at ₹1,44,290 per 10 grams.

Prices in Chennai were comparatively higher than other metro cities. Here, 24-carat gold was quoted at ₹1,60,470 per 10 grams, while 22-carat gold stood at ₹1,47,090 per 10 grams. Silver in most cities was priced at ₹2,69,900 per kg, whereas in Chennai the metal was trading higher at ₹2,75,900 per kg.

Bullion markets continue to be influenced by global developments. Internationally, gold prices have been fluctuating amid changing economic conditions, currency movements and investor sentiment. A weaker US dollar has provided some support to gold prices, while concerns related to global economic trends and geopolitical tensions have kept markets cautious.

Also Read: Sensex rises 300+ points, Nifty nears 23,500

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Corporate

Exicom opens ₹216 cr EV charger plant in Hyderabad

Exicom Tele‑Systems has inaugurated a new ₹216 crore manufacturing plant in Hyderabad to produce EV chargers, lithium-ion battery systems, and power electronics. Spread across 18.4 acres with a built-up area of 2.8 lakh sq ft, the facility will increase production capacity by 2.5 times, making up to 200,000 EV chargers a year.

The plant incorporates Industry 4.0 technologies, including automation, robotics, digital monitoring, and ISO 8 cleanrooms, ensuring high-quality output. Exicom also plans India’s first EV charger interoperability testing centre, enabling chargers to work seamlessly with multiple vehicle brands.

Sustainability features include a 1 MW rooftop solar system, rainwater harvesting, sewage treatment, and around 40 % green cover. The facility is expected to generate over 750 direct jobs in manufacturing, engineering, and quality testing.

Exicom aims to strengthen its position in India’s EV market while expanding exports to Southeast Asia and Europe, supporting the country’s push for electric mobility and clean-energy solutions.

Also Read: Indian-origin techie joins Elon Musk’s xAI

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Leaders

Indian-origin techie joins Elon Musk’s xAI

Aman Gottumukkala, an Indian-origin software engineer based in Texas, has joined Elon Musk’s artificial intelligence company xAI. He will work on AI tools that can help developers write software faster and smarter.

Gottumukkala shared the news on X (formerly Twitter), saying he will help build “the best coding AI.” He also mentioned that he has spent the past few years running a small startup with just three people, creating popular tools for Android developers that made millions in revenue.

Elon Musk welcomed him to the xAI team, highlighting the importance of this new addition.

Before joining xAI, Gottumukkala co-founded Firebender, an AI tool that helps programmers write and organize code. Despite being built by only three people, Firebender became popular among developers and earned significant revenue.

The startup was also supported by Y Combinator, a well-known program that helps new technology companies grow.

At xAI, Gottumukkala will focus on creating AI systems that make coding easier and faster. By working with Musk’s team and resources, he hopes to solve tough problems in AI and improve software development for people around the world.

Also Read: Airlines add fuel surcharge as oil prices rise

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1 Minute-Read

Airlines add fuel surcharge as oil prices rise

Indian airlines, including Air India, IndiGo and Akasa Air, have introduced a fuel surcharge on flight tickets following a rise in aviation fuel prices linked to tensions in West Asia involving Iran.

The surcharge will apply to both domestic and international flights and could range from around ₹199 to ₹1,300 depending on distance and route. Airlines said the move is aimed at offsetting higher aviation turbine fuel costs, which make up a large share of operating expenses.

Industry experts say fares may ease if global oil prices stabilise in the coming weeks.

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Beyond

LPG crisis sparks illegal cylinder sales

Fears of a shortage of cooking gas have led to panic buying in many areas, giving rise to black-market sales of LPG cylinders at very high prices.

Reports show that some illegal sellers are charging up to ₹6,500 for an LPG cylinder. In other cases, people are paying between ₹3,500 and ₹4,000 just to refill a cylinder. This is much higher than the normal price, which is usually around ₹900 to ₹1,000.

Investigations have found that some dealers are illegally diverting cylinders from authorised supply chains and selling them secretly to customers who cannot get gas through regular channels. These illegal sellers often operate from small shops such as stove-repair centres or grocery stores. In some places, they refill cylinders in hidden setups to avoid being caught.

The problem has worsened because many people are worried about possible supply disruptions. India depends heavily on imported LPG, and concerns about global tensions and supply issues have caused people to book extra cylinders or store them at home. This sudden increase in demand has made it easier for black-market traders to take advantage of the situation.

Officials say selling LPG cylinders outside authorised distribution systems is illegal. It violates rules under the Essential Commodities Act and the Liquefied Petroleum Gas Regulation Order. Authorities have warned that strict action will be taken against those involved in hoarding or selling cylinders illegally.

Despite increased monitoring, black-market traders are still managing to operate by selling cylinders only to known customers or through personal contacts. This makes it harder for law-enforcement agencies to track them.

Meanwhile, government officials have urged people not to panic and avoid booking extra cylinders unnecessarily. They said steps are being taken to increase LPG production and ensure proper distribution.

Refineries have already increased LPG output, and authorities are trying to ensure that cooking gas reaches households and essential services first. Officials have also asked the public to report any suspected black-marketing so that action can be taken quickly.

Also Read: Ex-Uber CEO launches robotics startup Atoms

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Leaders

Ex-Uber CEO launches robotics startup Atoms

Travis Kalanick, the former chief executive of Uber, has launched a new robotics venture called Atoms, signalling his renewed focus on technology and automation. The startup will develop robots designed to perform specific physical tasks across industries such as mining, logistics and food services.

The announcement marks Kalanick’s latest entrepreneurial move since stepping down from Uber in 2017. Through Atoms, he aims to build advanced robotic systems that can handle labour-intensive work, improve efficiency and support industries where automation is increasingly needed.

Atoms has evolved from Kalanick’s earlier venture, City Storage Systems, which he founded after leaving Uber. The company has now been repositioned as a robotics platform, bringing together several projects under a single technology-focused brand. Kalanick’s ghost-kitchen business, CloudKitchens, is also part of the broader ecosystem linked to the new venture.

Unlike companies developing humanoid robots, Atoms will focus on task-specific machines built to carry out particular functions. The approach is intended to speed up real-world adoption, as robots designed for specific jobs can be deployed more easily in industrial settings.

The company plans to operate through multiple divisions, including Atoms Food, Atoms Mining and Atoms Transport. Each unit will focus on building robotic tools tailored to the needs of different industries. For example, robots could assist in food preparation and packaging, help manage operations in hazardous mining environments, or automate parts of the logistics and transportation process.

Kalanick believes advances in artificial intelligence and robotics are creating opportunities to automate more physical work across industries. According to him, specialised robots could significantly improve productivity while reducing the risks associated with dangerous or repetitive tasks.

The robotics project has reportedly been in development for several years before being publicly revealed. During this period, teams worked on building the technology and testing its potential applications in different sectors.

Also Read: FASTag annual pass to cost more from April