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).
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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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The award of more than 200 coal blocks to steel, cement and power companies has been at the centre of the so-called "Coalgate" scandal.
The company has battled opposition from green groups since starting work on the project five years ago
'The Budget will be positive, continuing on the path of growth taken so far.'
Adani is the fastest growing energy company in Asia-Pacific and the second fastest in the world
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.
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.
The body of the trapped miner was spotted on January 16 and efforts were on to pull it out of the shaft of the coal mine filled with water.
In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government
Cairn India is 25th on the list with 22.2 per cent CGR.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Parliament in the Australian state of Queensland agreed on Tuesday that India's Adani Enterprises Ltd should be granted "all state government approvals" to build one of the world's biggest coal mines.
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.
'It has changed the political character of India by ejecting socialism as an ideology from the Constitution of India.'
Reliance Energy Ltd and Tata Power Company are eyeing an equity stake in an Indonesian coal firm -- Bumi Resources -- to meet fuel requirements for their power plants in India.
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.
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
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However, the National Disaster Response Force, which has been engaged in the rescue operation since the day of the tragedy on December 13 last, will continue with their services.
Coal India was the biggest gainer on both Sensex and Nifty
Either the stake in these companies will be sold or they may partner private firms.
In a year when the country produced record coal, rains hit movement of the fuel from mines to power generation units, impacting power generation in many states, including Gujarat, Punjab, Rajasthan, Delhi and Tamil Nadu.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
Area residents and environmental groups have resisted the coal power plant ever since it was originally proposed in 2006 due to worries about land clearance and pollution
The government's disinvestment programme is set to get a boost this Diwali, with the finance ministry planning to hit the market to sell a five per cent stake in Steel Authority of India Ltd (SAIL) by October.
Tata Steel has built an iron ore chest of nearly 600 million tonnes (mt) and will look for more as it prepares for life beyond 2030 when its legacy captive mines come up for auction. The lease for four of its existing iron ore mines -- Joda East, Noamundi, Katamati, and Khondbond -- that feed the domestic operation with low-cost iron ore is going to expire in 2030, following changes in mining regulations. The year will also coincide with Tata Steel's ambitious target of doubling steelmaking capacity in India to 40 mt, increasing the need for iron ore. The company is pushing the pedal to ensure that it has enough resources to meet enhanced needs.
The body, located 200 feet away from the bottom of the mine, was brought out using the Indian Navy's underwater remotely operated vehicle and an National Disaster Response Force boat on Wednesday, said operations spokesman R Susngi.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
Shares of One97 Communications Ltd, Paytm's parent company, on Thursday made a tepid market debut, listing with a discount of over 9 per cent from the issue price of Rs 2,150.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
More shares belonging to companies of the embattled Adani Group have been pledged as security for loans taken by the group's flagship firm, a trustee said. SBICap Trustee in notices to stock exchanges said that a further 0.99 per cent shares in Adani Green Energy Ltd were pledged "for the benefits of the lenders" of Adani Enterprises Ltd. An additional 0.76 per cent shares in Adani Transmission Ltd were also pledged to banks, the trustee said. SBICap, which is a unit of State Bank of India (SBI), however did not give details of the loans taken by Adani Enterprises for which the pledge was created.
Non-mineral-rich states will benefit from tariff concessions.
