TCS emerges as the biggest gainer
The government on Thursday fixed Rs 358 a share as the floor price for up to 10 per cent stake sale in Coal India on Friday, which may help the exchequer garner about Rs 22,600 crore (Rs 226 billion) in the biggest sale of shares.
IT major TCS worst hit; it's m-cap slumped by Rs 11,811.13 cr to Rs 4,92,042.26 cr
The m-cap of ITC slumped Rs 19,958 cr to Rs 2,58,300 cr, taking the steepest hit among the top-10 firms
State-owned Coal India Ltd has decided to make a foray into power generation and the company is in talks with Neyveli Lignite Corporation to set up a 2000 mw pithead power plant at its subsidiary Mahanadi Coalfields Ltd.
Market valuation of TCS surged by Rs 26,677.87 crore.
Valuation of TCS, ITC declines in the week
This is BSE Sensex's best weekly rise since October 31, 2014.
The combined market valuation of top seven Sensex companies tanked by a whopping Rs 1 lakh crore in the past week, with TCS, ONGC and RIL taking the steepest hit.
In the domestic market cap ranking, TCS continues to top the list
Out of the seven companies, Coal India Ltd and SBI were the top gainers in an overall strong stock market. ONGC, ITC and Infosys were the losers for the week ended April 11.
A planned stake sale in Coal India in the last financial year had to be deferred after stiff opposition from the trade unions.
The market valuation of top seven Sensex companies fell by Rs 24,783.44 crore last week in an overall weak stock market.
'This is a crisis which did not happen overnight. It was happening slowly.' 'Now we are mining very fast and this crisis won't last long.'
The ministry has also noted the controversial proposal of opening up the coal sector and restructuring of CIL.
Of these, 14 have received environmental clearances and four forestry clearances.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
Biggest ever share sale by any private or public sector co in India.
Government wants to increase coal production so that it can meet the ever increasing coal demand.
Friendlier government policies, greater demand and better supply of coal have fuelled investor interest.
The market valuation of top five Sensex companies fell by Rs 36,971.61 crore (Rs 369.71 billion) last week, with ONGC and Sun Pharma being the worst hit.
Offloading shares in ONGC, CIL, NHPC may fetch govt more than the year's target.
Pump manufacturing company Kirloskar Brothers Ltd and Coal India on Friday are jointly moving 18 high-powered pumps to the mine, officials said.
Production and prices have been stagnant for several years, but the company's cost-cutting drive is showing results.
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Likely to set the ball rolling for Rs 1.72-lakh-cr projects today
The CAG report, tabled in Parliament on Tuesday, said because of non-deployment of pay loaders, South Eastern Coalfields Ltd, a CIL subsidiary, failed to utilise gainfully the existing crushing facilities and to earn an additional revenue of Rs 12.76 crore (Rs 127.6 million) during June 2010 and May 2011.
Closes 20 points lower on a bout of profit-booking.
The recommendation, if implemented, could severely dent coal miners' bottom line.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
However, TCS, ITC, Infosys, HDFC Bank, ICICI Bank and Sun Pharma added Rs 27k cr in m-cap
Several stocks cheaper in dollar terms now than in March 2009 when Sensex was below 9,000; FIIs in Coal India IPO stare at losses.
The combined market valuation of top nine Sensex firms advanced by a whopping Rs 1.39 lakh crore with energy majors ONGC and RIL emerging as the star performers, while TCS saw a marginal dip last week when stock market recorded life-time highs.
CMD designate says company will do everything to meet the presidential directive.
TCS is the most valued Indian company.
The depth of water from the surface till the bottom of the pit is expected to be over 150 feet, Navy officials said.
With Coal India deciding to pay around Rs 16,485 crore as interim dividend, the government will be able to make up for the shortfall in the disinvestment target of Rs 40,000 crore for the current fiscal.
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
The government on Tuesday advised investors to stay put with Coal India Ltd to multiply their fortunes and compared the strengths of the company with gold, which is considered the best long-term bet to create wealth.
The state-run miner, which recently raised a record Rs 15,000 crore (Rs 150 billion) from the markets, is running short of executive manpower, even as it looks at expanding production to meet rising coal demand in the country.
Coal India Ltd's Rs 15,000 crore (Rs 150 billion) mega issue, which opens on Monday for public subscription, has garnered a bullish endorsement from most of the market experts who believe it would be the star attraction of this week for all, including retail investors.
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