With the country poised to import 142 million tonnes in 2011-12, the development holds significance as a tie-up with railways will help CIL in transporting the imported coal to its destinations.
Fourteen miners were on Wednesday trapped inside Central Coalfields Ltd's Saunda colliery of at Hazaribagh in Jharkhand after the mine's roof collapsed and water gushed in flooding the colliery.
The issue, through which the Centre will be divesting 10 per cent of its stake, garnered applications for 5,67,40,450 shares within the first hour of opening.
The forthcoming public offers of CIL and SAIL can be a roaring success if the debut history of 28 PSUs since 2003 is any indication, as 94 per cent of these public sector companies listed with a premium of at least 10 per cent on the bourses.
The deadline for these overseas mining firms for responding to CIL's EoI notice is August 31 this year.
State-owned Coal India is likely to get listed by October and may be accorded Maharatna tag by 2010 end, while BHEL has to wait for at least a year to be awarded with the coveted tag, a senior official said on Friday.
The scheme, which was earlier implemented by the coal companies, has been extended for the current fiscal also.
Coal India said 52 global companies have expressed interest in partnering with it for acquiring mines overseas, especially in Australia, Mozambique and Indonesia.
Currently, the government holds 100 per cent stake in the PSU and plans to offload 10 per cent equity through the IPO, which will offer 63.16 crore (631.6 million) shares.
The government may offload a maximum of 10 per cent of its stake in the state-run firm. Currently, its holdings in CIL stands at 100 per cent.
Eyeing to become India's largest player in 2020 Adani Group plans to invest 70 per cent of its capital expenditure in clean energy and energy efficient systems.
"We have recommended that at least 20 per cent of coal should be sold through e-auction," said Kirit Parikh, member (energy), Planning Commission. CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
Coal India Ltd, Steel Authority of India Ltd, Bharat Heavy Electrical Ltd and Oil and Natural Gas Corporation were among the 15 top PSUs, which went about head hunting at the IIM-L. CIL and SAIL recruited 12 students each. "Out of the total of 267 IIM-L students graduating this year, PSUs recruited 65 students," IIM-L Placements Chairman Sushil Kumar told the media in Lucknow.
Five leading unions (INTUC, AITUC, BMS, HMS, and CITU) had given the strike call from January 5 to 7 to press for their wage revision demand. However, with the Coal India management and the unions entering into a memorandum of understanding on the wage agreement in Hyderabad on Sunday, the strike has been called off.
Coal consumers across the country sourcing coal from Coal India Limited through the e-auction mode are sore over the recent rise in earnest money deposit for procurement of coal and also the bulk transport of e-auction coal through the road route which has pushed up the cost of the raw material.
A racket-smashing Andy Roddick was shocked 6-4, 4-6, 6-4 by 19-year-old Croat Marin Cilic in the third round of the Toronto Masters on Thursday. Rafael Nadal and defending champion Novak Djokovic however eased into the last eight.
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
Cummins India Limited will be investing an estimated $29 million in its plants in Pune to enhance capacity in the mid-range horse power engines to include electronically
The miners were working on night shift when the mine caved in at around 5.30 am.
Petronas of Malaysia has picked up about 10 per cent stake in Cairn India Ltd, the subsidiary of Scottish oil firm Cairn Energy Plc, that is to be listed on Bombay Stock Exchange by the end of next month.
Over the past week, BSE Sensex fell sharply by 701.24 points to 27,366.07
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
A bench headed by Chief Justice H L Dattu said, the apex court had granted six months' time to wind up their operations and the companies cannot be restrained from excavating coal during this period.
The company made the announcement on Tuesday as it reported a 2013 loss of $556 million after costs for unsuccessful exploration in Morocco and the North Sea soared.
TCS took the steepest hit among the top-10 firms as its m-cap plunged Rs 17,334 cr
Tech major's shareholders will receive total dividend of Rs 15,474 crore in FY15
The divergence shows lack of financial depth in the Indian stock markets.
The CCI passed this judgment in two different cases relating to the e-auction scheme and fuel supply agreements which were filed last year.
The company will engage various NGOs for the construction of toilets as well as undertake awareness campaigns for better sanitation, it said adding that a total of around 100,000 households would be benefited by the sanitation initiative.
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
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.
India must reckon with the possibility that it will struggle to attract higher overseas investment.
PSUs will get direct allotment.
Freight rates for 12 commodities hiked.
Bharti Airtel, HDFC, ONGC, ITC and CIL emerged as the top gainers.
Unfazed by the stalemate over the Sadhvi Niranjan Jyoti issue, government has lined up a heavy legislative agenda in Parliament this week including a bill seeking to replace coal blocks allocation ordinance.
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
In 2014, the benchmark Sensex rose by 6,328.74 points or 30 per cent and recorded a record high of 28,822.37 on November 28.
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