Hindalco Boosts U.S. Presence with $125M AluChem Buyout
Hindalco Industries will acquire U.S.-based AluChem for $125 million to expand its global specialty alumina capacity. The deal adds 60,000 tonnes annually from AluChem’s three U.S. plants. Aiming to hit 1 million tonnes by FY30, the move strengthens Hindalco’s high-margin, value-added materials portfolio and enhances its North American footprint.
Tata Capital Gets SEBI Nod for Rs. 17,190 Cr IPO
Tata Capital has received SEBI approval for its Rs. 17,190 crore IPO, potentially the largest of 2025. The offering will include fresh shares and an Offer for Sale by Tata Sons, which holds a 93% stake. Listing is expected in July, marking a major move by the Tata Group’s financial arm into public markets.
Rare Earth Subsidy Plan Likely in 20 Days
The Indian government may finalize a subsidy plan for domestic rare earth (magnet) production within 15–20 days, says Union Minister H.D. Kumaraswamy. Consultations with stakeholders are ongoing. If incentives exceed Rs. 1,000 crore, cabinet approval will be needed. A Hyderabad-based firm has pledged to supply 500 tonnes by December, signaling growing industry interest.
FJCCI Delegation Embarked on Vietnam Tour
A 21-member FJCCI delegation began a 7-day Vietnam tour to explore trade and investment opportunities between Jharkhand and Vietnam. Led by President Paresh Gattani, the team will meet key Vietnamese business bodies and officials. Focus areas include textiles, agriculture, IT, and electronics. The visit aims to boost exports from Jharkhand and attract foreign investment to the state.
DVC Bokaro Thermal Wins ‘FGD Unit of the Year’ Award
DVC’s 500 MW Bokaro Thermal Power Plant has been honored with the “FGD Unit of the Year” award by the Council of Enviro Excellence (CEE) at a national conference in Nagpur. The award recognizes the plant’s outstanding emission control and environmental sustainability efforts through its Flue Gas Desulfurization (FGD) system, showcasing best practices in air pollution management.
DVC Plants in Jharkhand Hit by Technical Glitches
Technical faults in three DVC thermal power stations, Chandrapura, Koderma, and Bokaro have triggered a major power crisis in Jharkhand, affecting seven area boards including Dhanbad. Electricity supply has dropped from 220 MW to as low as 170 MW. While Bokaro’s issue may be resolved by 27th June, Chandrapura and Koderma repairs may take up to two months.
CPI-ML to Hit Streets Against Labour Codes on 9th July
CPI-ML will join the nationwide protest on July 9 against the Centre’s four labour codes, citing threats to workers’ rights and democratic values. The decision was made during the party’s two-day state committee meeting in Ranchi. Leaders vowed to intensify movements against policies they believe suppress constitutional rights and citizens’ voices.
10 Jharkhand Officials Promoted to Additional Secretary Rank
The Jharkhand government has promoted 10 officers of the Jharkhand Administrative Service from Joint Secretary to Additional Secretary. All have been retained in their current postings. The Department of Personnel and Administrative Reforms issued the notification, with officials from departments like Finance, Health, Education, and Transport among those elevated in rank.
CID Widens Probe Job & Compensation Scam in Tandwa
In a major scam at Chatra’s Amrapali coal project, CID filed an FIR against 22 people over fake documents used to fraudulently obtain jobs and compensation. Initial inquiry revealed forged land verification papers. The probe now includes CCL and Tandwa officials. The scam involved organized misuse of land records, prompting a deeper CID investigation to ensure accountability.
Extremists Torched Roadwork Vehicles in Hazaribagh
Over a dozen armed extremists attacked a road construction site in Hazaribagh, Jharkhand, torching seven vehicles after extracting fuel and assaulting drivers. The incident, likely linked to extremist activity, has heightened local security fears. No group has claimed responsibility. SP Anjani Anjan launched a detailed probe, assuring locals of swift action and increased vigilance.
