Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
A 'White Paper' versus 'Black Paper' battle erupted on Thursday as the Centre and the Congress unveiled documents and crossed swords over the handling of the Indian economy during the nearly 10 years of the BJP-led NDA rule and the previous 10-year tenure of the Congress-led UPA government.
The judge summoned Birla as one of the accused in the case.
The Central Bureau of Investigation on Monday questioned Arvind Jayaswal, director AMR Iron and Steel Private Limited, in connection with alleged irregularities in allocation of Bander coal block in Maharashtra to the company.
Central Bureau of Investigation on Friday registered two enquiries to look into the issue of missing files on coal block allocations from the Coal Ministry.
An FIR was registered against Sinha for allegedly trying to influence the coal scam probe as the agency's chief.
The Central Bureau of Investigation has questioned T K A Nair, advisor to Prime Minister Manmohan Singh, in connection with alleged irregularities in allocation of coal blocks, which included granting of a block to Hindalco at Talabira despite it being rejected by a screening committee of the coal ministry.
They are arguing that it is a major source of greenhouse gas emission.
There was a sharp fall in power output on Thursday from a plant in Gujarat that left India more than 9,000 megawatts short of peak demand, according to two officials at the state grid operator.
The Cabinet may on Thursday take a decision on the draft Bill for setting up the coal regulatory authority.
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An advocate on Thursday moved the Supreme Court seeking directions to the Central Bureau of Investigation to name Prime Minister Manmohan Singh in its FIR filed against industrialist Kumar Mangalam Birla and former Coal Secretary P C Parakh in a coal block allocation case.
The key hurdle Adani needs to clear to secure loans for the Carmichael mine, rail and port project is dredging approval to expand its Abbot Point port.
As part of the energy sector reforms, government is trying to evolve a consensus on commercial mining of coal to promote development of the sector, Coal Minister Sriprakash Jaiswal said.
Major corporates are staring at an uncertain future after investing substantially on their projects
Analysts seem to be generally pessimistic about Bharat Heavy Electricals (BHEL). Out of 15 brokerages with recommendations since May this year, two have 'buy' while five have 'sell' and eight have 'underweight'/'reduce'/'underperform'/'hold' recommendations. The average target price of the public sector undertaking (PSU) is Rs 61. However, the stock has been consistently hitting new highs, which indicates that there is some kind of valuation mismatch.
'Officers have been made the scapegoat for political failure.' 'No effort has been made to find out who scuttled the prime minister's decision to introduce competitive bidding and why and at whose instance.'
The Coal Ministry has issued show-cause to eight firms including Hindalco Industries and Mahanadi Coalfields, and sought explanation from five firms for delays in commencing production from mines allocated to them.
The Federation of Indian Chambers of Commerce and Industry (Ficci) president RV Kanoria calls for privatisation of Coal India Limited (CIL), the world's largest coal producer and India's public sector unit.
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RPG Industries, Hindalco, SAIL, Jindal Steel, Monnet Ispat, GVK Power and Jaiprakash Associates among companies summoned for review.
"I am proud to announce the project has Final Investment Decision (FID) approval which marks the official start of one of the largest single Infrastructure -- and job creating -- developments in Australia's recent history," Gautam Adani said.
Production of eight infrastructure sectors expanded at a four-month high of 7.8 per cent in January 2023 on better show by coal, fertiliser, steel and electricity segments, according to official data released on Tuesday.
The mine, designed to eventually produce 60 million tonnes a year of thermal coal used in power stations, has been the focus of opposition by green groups fighting new coal mines and the rail and ports needed to ship the coal.
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
India's economy grew 7.6 per cent in the September quarter of this fiscal and remained the fastest-growing large economy, mainly due to better performance by manufacturing, mining and services sectors, the government data showed on Thursday. The gross domestic product (GDP) expanded by 6.2 per cent in the July-September quarter of 2022-23. India remained the fastest-growing major economy, as China posted a 4.9 per cent growth in July-September 2023.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Metal and mining companies, such as Tata Steel, JSW Steel, Hindalco, and Coal India, have been among the top-performing sectors on the bourses in recent months. The S&P BSE Metal Index is up 13 per cent in the past three months, rallying 29 per cent in the past year, outperforming the broader market. For comparison, the benchmark S&P BSE Sensex has only seen a 1.7 per cent increase in the past three months, with a 15 per cent gain since the end of September last year.
It's a perfect curry when served hot, topped with a dollop of butter, with rotis.
To ensure smooth allocation of 204 cancelled coal blocks, the government has set up a high-level inter-ministerial panel that would provide advise on policy issues and interact with the industry.
in the first lot 74 blocks will be auctioned, but the number of mines a company can bid will be capped to avoid monopoly.
90 prominent Australians warn Indian energy giant Adani that its controversial coal mine project in Queensland could damage bilateral ties and even affect sporting links.
Company looking for acquisition of coal properties abroad.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
The Central Bureau of Investigation has decided to expand its probe into coal-gate bringing under its scanner all coal block allocations made since 1993 including the six-year NDA rule after a reference in this regard was received from the Central Vigilance Commission on Monday.
Decades of a state-owned monopoly selling coal at a fixed price has taken its toll on production.
As of now, only Indian power, steel and cement companies can mine coal for their own consumption.
According to coal ministry officials, the Bill is likely to be introduced in the Lok Sabha on Wednesday. The Coal Mines (Special Provisions) Ordinance, 2014 was brought in October this year in the wake of the Supreme Court's decision cancelling 214 coal blocks.
Currently, only Coal India, the world's largest coal miner, and its smaller sister PSU Singareni Collieries besides mining agencies of state government are allowed commercial coal mining.
The government has so far closed bids for 13 blocks.
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