Eleven bidders, including Adani Enterprises, have shown interest in the first-ever coal import tender issued by national miner Coal India (CIL). Recently, state-owned NTPC awarded 6.25 million tonnes (mt) of imported coal tender worth Rs 8,300 crore to Adani Enterprises. CIL, in a public statement on Tuesday, said: "The prominent Indian agencies among them (11 coal importers) were Adani Enterprises, Mohit Minerals, and Chettinad Logistics. "A couple of coal exporting agencies from abroad, including one from Indonesia, have also shown interest," it said.
Promoters of companies which have pledged their shares will be in a bind following the government's mandate that all listed companies must have a minimum 25 per cent public float. Although the government yesterday indicated it was open to a review of this rule, many companies will have to re-work their funding strategy if the norms are not amended.
Top names in the power and infrastructure sector, including Reliance Power, Lanco Kondapalli and Spanish firm Isolux Corsan, have evinced interest in setting up two power plants in Uttar Pradesh's Allahabad district.
Bid date for Allahabad project postponed on fears of higher tariff quotes.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Power generation and distribution is the most indebted sector
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
New SDR norms allow promoters to manage debt-laden firms.
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Since April 1, promoters of Jaiprakash Associates have released more than 225 million Jaiprakash Power Ventures shares (valued at Rs 425 crore) pledged with lenders.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers' stock market queries. Ajit will offer his unbiased views on a weekly basis
Firms generated free cash flows in 2013-14, for the first time since the 2008 Lehman crisis
An exercise to rationalise coal linkages which will optimize transport of coal and reduce cost of power is underway.
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