Shares of Bharat Coking Coal Ltd on Monday made a bumper stock market debut and ended with a premium of nearly 77 per cent, commanding a market valuation of Rs 18,935 crore. The stock was listed at Rs 45.21, a steep premium of 96.56 per cent from the issue price of Rs 23 on the BSE.
Bharat Coking Coal Ltd (BCCL) has suspended coal mining and dispatch operations at its ABOCP mine in Dhanbad since April 2, following a protest by local workers demanding full-time wages and benefits.
The Kolkata-based coal miner has tied up with the US-based Advance Resource International Inc for exploration and identification of the potential shale deposits within the company's coal blocks.
One hundred and thirty officials of different government departments were slapped with major penalty by the Central Vigilance Commission for their alleged involvement in corruption.
These three blocks figure in the 'Schedule I' list of those coal mines, which are being auctioned afresh
Amid the low stock position at the electricity generating plants, state-owned CIL has asked its subsidiaries to refrain from conducting any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The development assumes significance as the supply of coal is being prioritised to the power sector to replenish the dwindling stock in the wake of reports of an electricity crisis looming large. "In view of the current low stock position at the powerhouse end, supply of coal is being prioritised to the power sector to replenish the dwindling stock...coal companies are advised to refrain from conducting of any further e-auctions of coal with the exception of special forward e-auction for the power sector, till the situation stabilises," Coal India said in a recent letter to its arms, including Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL).
M Veerappa Moily's takeover of the environment & forests ministry last month, it appears, is turning out to be a blessing for Coal India Ltd (CIL), the world's largest coal producer.
After extricating five bodies from an abandoned coal mine in Jharkhand's Dhanbad district, government authorities and the Eastern Coalfields limited Wednesday called off the rescue operation, while locals and leaders of political parties claimed more people were still trapped under the debris.
An inquiry has been ordered by the Director General of Mines Safety and a high-level committee of experts has been constituted by Coal India to investigate the causes of the accident.
'It has changed the political character of India by ejecting socialism as an ideology from the Constitution of India.'
When the world was upended by the Covid-19 pandemic, metals got its shine back. In the last two years, infrastructure spending by major economies spurred demand, energy transition and intermittent supply disruptions fuelled a scorching rally in metals after a downturn during the first Covid wave. Now, Russia's war on Ukraine is ensuring that elevated prices stay the course.
The list is of companies declared sick as on March 31, 2014.
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
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