The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
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.
Coal India Ltd, the world's largest coal producer, may buy up to a 15 per cent stake in US-based Peabody Energy Corp's Australian assets early next fiscal for an estimated USD 100 million (about Rs 450 crore).
'The Budget will be positive, continuing on the path of growth taken so far.'
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
Earlier this year, the government raised around Rs 1,000-crore by selling its stake in Satluj Jal Vidyut Nigam.
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.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Can relax penalty payable in case of a shortfall on 80% committed quantity
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The court noted that Gupta made 'dishonest misrepresentation' before the then prime minister.
The Navy wanted to ascertain the water level as their divers can operate up to 100 feet in a closed container-type situation, a district official said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Top sources in the government told Business Standard that Railway Minister and Trinamool Congress chief Mamata Banerjee's opposition to divestment plans of profit-making public sector entities prompted the cabinet not to take it up for discussion today.
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
The court said accused cannot leave India without getting its permission.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In 2010, R Power acquired 100 per cent economic interest in three coal mining concessions in Indonesia
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
Prime Minister Narendra Modi's decision to open commercial coal mining to private players is a key step towards bringing order to the country's chaotic power industry and ending the chronic blackouts that impede its economic rise.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
The Prime Minister's Office on Tuesday reviewed the coal supply and power generation scenario as the government looks at ways to defuse the energy crisis being faced by several states.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed eight spots to the 45th rank, the highest for an Indian company on Forbes' latest Global 2000 list of public companies worldwide.
Samariya, the first Dalit to have been appointed to the post, was working as information commissioner in the transparency panel Central Information Commission (CIC). A 1985-batch Indian Administrative Service (IAS) officer of Telangana cadre, Samariya retired after serving as the labour and employment secretary in the Government of India. He was sworn in as the information commissioner on November 7, 2020.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 15-member team, equipped with specialised diving equipment including a re-compression chamber and remotely operated vehicles capable of searching underwater, went straightway to the mine site in the remote Lumthari village in East Jaintia Hills district.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Coal India would be second company to hit the markets under the government's disinvestment programme.
Officers of Central Public Sector Units will go an indefinite nationwide strike from December 22, demanding higher salaries and autonomy for the public sector.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Power stations with captive mines might look at this as an opportunity to sell merchant power at higher rates.
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.
But company says govt decision to permit use of incremental coal does not result in any loss to exchequer or undue benefit.
De-allocation could raise import bill by $3 billion, add to coal shortage.
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