At around 3 pm on Wednesday, India's daily peak power demand touched 220 gigawatts (Gw)-the highest daily peak ever in the history of the country. The ministry of power in its estimates had projected country's power demand to cross touch 220 Gw during the months of April-June. With a cooler April due to unseasonal rains, the peak shifted to May.
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.
Gandhi claimed that Dalits, tribals, and Other Backward Classes were made bonded labourers and their participation was lacking in big companies, hospitals, schools, colleges and courts.
The Indian Railways carried more goods in December 2023 than the same time last year, making more money than any month bar one since the pandemic. The railways made Rs 15,098 crore by carrying freight in December 2023. The number was higher only in March 2023 when it earned Rs 15,769 crore, according to data from the Centre for Monitoring Indian Economy (CMIE).
The sector may be overcrowded with a fair number of large players and the entry of the Adani Group through its two key acquisitions, followed by the takeover of majority stake in Sanghi Industries via Ambuja Cements. Since every major player is in expansion mode, there could be a capacity surplus and hence, price wars.
Polling is scheduled in all 13 seats of Punjab and four of Himachal Pradesh, 13 constituencies in Uttar Pradesh, nine in West Bengal, eight in Bihar, six in Odisha and three seats in Jharkhand besides Chandigarh.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
The government has the power to allocate coal blocks to enterprises in specific sectors -- such as power, and iron and steel in particular.
The company has battled opposition from green groups since starting work on the project five years ago
Former Coal Secretary H C Gupta, who resigned as member of Competition Commission of India, was on Thursday questioned by the Central Bureau of Investigation in connection with coal blocks allocation from 2006 to 2009 during his tenure.
The Coal Regulatory Authority Bill, 2013, needs Parliamentary approval and is to be introduced in the next session, P Chidambaram told reporters.
To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
If the power plants are reporting low coal stocks with them, it is largely because they have improved their power generation to meet higher demand.
Many power firms, including NTPC -- the largest consumer of Coal India -- have refused to sign the supply pacts as they are opposed to certain clauses like minimum assured supply and the penalty to be paid by the state-owned coal producer, in case it fails to meet the commitment.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
A week after he lost his father, Umesh Yadav brought India back into the reckoning in the third Test in Indore after he picked three Australian wickets in the morning session.
Non-mineral-rich states will benefit from tariff concessions.
CAG audit is likely to be completed in six months.
The judiciary has sent a strong message against crony capitalism.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
The government on Wednesday expressed disappointment over a French company snapping up Mahatma Gandhi's Johannesburg house, through Sotheby's auction firm, but said it will continue efforts to acquire the heritage property through a public sector company."The matter concerns national sentiment and I will leave no stone unturned to acquire the historic property and declare it a national monument," said Union Coal Minister Sriprakash Jaiswal.
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Delayed clearances for coal blocks, as well as companies' own failure in developing mines, appear to have had a financial implication of Rs 1.46 lakh crore (Rs 1.46 trillion) for the country.
Bad loans of state banks in coal industry was 0.23 per cent as of end-September, while for private banks it was 0.22 percent
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
Industrial base metals major Hindalco delivered a strong consolidated performance during the January-March quarter (Q4) of FY24. Consolidated revenue was reported at Rs 56,000 crore, up 6 per cent quarter-on-quarter or Q-o-Q (flat year-on-year or Y-o-Y), with better realisation and higher India volumes.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
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.
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.
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
A bill to allow the private sector to mine six atomic minerals, including lithium, and deep-seated minerals like gold and silver was approved by the Lok Sabha on Friday.
"We will complain. He can meditate, but televisions cannot show it," she said, alleging that this will amount to "violation of the MCC."
In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
