The Central Bureau of Investigation on Monday filed its first charge-sheet in a Delhi court in the coal blocks allocation case against Navabharat Power Pvt Ltd for allegedly misrepresenting facts and making "fraudulent" claims to "embellish" its applications to get allotments between 2006 and 2009.
A Delhi court on Monday awarded three-year jail term to former coal secretary H C Gupta in a coal scam case related to irregularities in the allocation of a coal block in Maharashtra, a lawyer associated with the case said.
Major corporates are staring at an uncertain future after investing substantially on their projects
State-owned Coal India is expected to seal deals worth $1.8 billion (about Rs 8,000 crore) with foreign firms in the next two months for mining coal abroad.
The Coal Ministry on Monday received a total 69 applications from various PSUs
Adani Power bagged Jitpur mine in Jharkhand.
This follows finance minister's directive that PSUs should not fall short of the announced intention to invest.
Reliance Industries Ltd on Thursday reported a 7.4 per cent rise in its December quarter net profit, as its retail business rebounded and telecom earnings rose. Its consolidated net profit of Rs 18,540 crore, or Rs 13.70 per share, in October-December - the third quarter of April 2024 to March 2025 fiscal (FY25) - compared to Rs 17,265 crore, or Rs 12.76 a share, in the same period a year back, according to a stock exchange filing by the company.
Aiming to raise Rs 40,000 crore (Rs 100 billion) from disinvestment, the government on Wednesday said it will sell its stake in 10 more PSUs, including IndianOil, MMTC, Coal India Ltd, SAIL, RINL and Shipping Corporation, in the current financial year.
State-run Coal India Ltd is likely to hit the market by the third week of October with India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion).
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100-year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index. According to market expectations, Trent, a Tata group-owned fashion retailer, is likely to replace Bajaj Finserv during the upcoming index rebalancing in December.
Gautam Adani, promoter of Adani Power Ltd, has a reason to relax, even as the power arm of his group of companies continues to make losses for an eighth straight quarter.
With the Supreme Court (SC) cancelling captive coal block allocations, Jindal Steel & Power Limited will be the worst-affected company.
Coal India wants to organise PAN cards and demat accounts for each of its 400,000 staff ahead of its IPO.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
Labour unions, with a history of hostility towards management, are pushing back on Coal India's plans, fearing modernization and outsourcing will hit jobs.
Demands include clearing eight critical coal blocks attached to projects of big corporate houses.
A high-powered submersible pump from Coal India Ltd will be put into operation on Thursday.
Trinamool Congress is the second highest recipient of political donations through electoral bonds.
Euphoric about India's biggest IPO, possibly to garner up to Rs 15,000 crore, from the world's largest coal producer CIL, Coal Minister Sriprakash Jaiswal on Friday said October is an "auspicious" month to launch the issue.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
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.
The Adani group struck first coal from its Carmichael, Australia project on Thursday and will start shipping to its customers according to schedule. With this, the project will not only lift the economic prospects of the hitherto barren Australian outback, but also help Indian power plants to source cheap coal. The project had faced protests from a section of population with several banks even refusing to fund it. The group, however, went ahead with the project which included construction of a brand new railway line connecting an Australian port to the mine -- situated 300 kilometers away in Queensland.
As India's electricity demand soars, the power ministry on Tuesday reviewed the power supply situation to ensure 'zero load shedding' during the summer months. The ministry has drafted plans ranging from delaying planned maintenance of thermal power stations to mandatory operations of imported coal-based and gas-based stations till September. In a series of meetings with industry stakeholders, Union Minister for Power, New, and Renewable Energy R K Singh emphasised the importance of adequate planning to avoid situations where one state has surplus power while another state faces shortages.
In an interview with Business Standard, CIL Chairman Singayapally Narsing Rao attributes the performance to volume growth but adds a decision on price hike will be taken at an appropriate time.
The growth of eight key infrastructure sectors rose to 5.2 per cent year-on-year in March due to improvement in the output of crude oil, cement and electricity, according to official data released on Tuesday. In 2023-24, the growth rate in the output of these eight sectors was 7.5 per cent, marginally down from 7.8 per cent recorded in the year-ago period.
From Jammu and Kashmir to Andhra Pradesh, consumers are facing power cuts ranging from 2 hours to 8 hours.
The Ministry of Finance may seek the Union Cabinet's approval for the proposed 10 per cent stake sale in state-owned Coal India Ltd by the end of this month, a senior Coal Ministry official said
Air India sale will give a boost to India's privatisation drive, the Economic Survey said on Monday, as it suggested redefining the public sector role in business enterprises to encourage private participation in all sectors. The government earlier this month handed over ownership rights in national carrier Air India to Tata Group for Rs 18,000 crore. The amount includes the takeover of the debt burden of Rs 15,300 crore and another Rs 2,700 crore in cash.
To float SPV, levy user charge on consumers to cover investment cost.
Power firms can pass on burden to consumers, stocks rise up to 2%
"The fourth body was found at 230ft in general area where the third body was found. It is located about 20 feet away from the pulley cart used to transport the dug-out coal," operation spokesperson R Susngi said.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
IT giant Tata Consultancy Services (TCS) on Tuesday slipped to fourth position in the list of the country's most valued companies, below Reliance Industries, ONGC and Coal India Ltd.
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
Plans 'complete' agricultural solution in mining areas
This will help Coal India become globally competitive, says Minister of State for Coal Dasari Narayana Rao.
The RBI interest rate decision, industrial production data for June and the ongoing quarterly earnings from corporates would largely drive the stock markets this week, analysts said. Other major factors such as global market trends, the movement of oil prices and the trading activity of foreign investors would also influence trading, they added. "The market will have an eye on the RBI Monetary Policy Committee (MPC) meeting, which will be announced on August 10, 2023. We are heading towards the last batch of Q2 earnings of key companies such as Adani Ports, Coal India, Hero MotoCorp, Hindalco and ONGC, among others, which will lead to stock-specific movement," said Pravesh Gour, senior technical analyst, Swastika Investmart Ltd.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
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