It will be helpful advice for a chief minister-in-waiting who is going to have to deal with empty coffers and overflowing expectations
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The government on Wednesday expressed disappointment over a French company snapping up Mahatma Gandhi's Johannesburg house, through Sotheby's auction firm, but said it will continue efforts to acquire the heritage property through a public sector company."The matter concerns national sentiment and I will leave no stone unturned to acquire the historic property and declare it a national monument," said Union Coal Minister Sriprakash Jaiswal.
There was a sharp fall in power output on Thursday from a plant in Gujarat that left India more than 9,000 megawatts short of peak demand, according to two officials at the state grid operator.
Road projects alone worth $10 billion face delays over land disputes and other clearances.
Mutual funds breathed easy today, with the flow into liquid and liquid-plus schemes soaring to Rs 30,000-35,000 crore. This is in contrast to the situation over the past few days when a liquidity squeeze caused by the Coal India issue soaking up cash forced companies and banks to withdraw money from mutual funds.
In the run-up to the Coal India initial public offering (IPO), brokers are offering Rs 500-700 to 'rent' the demat accounts of retail investors not subscribing to the issue. The rent is for the duration of the issue, which opens on Monday and closes four days later.
Committed to keep fiscal deficit under check, Prime Minister Manmohan Singh has convened a high-level meeting on Tuesday to push forward the disinvestment programme with a view to achieve the budgetary target of Rs 40,000 crore (Rs 400 billion) in the current fiscal.
In view of flurry of IPOs expected in the immediate future, here is a simple tip which will make investors' participation in IPOs more profitable and enjoyable.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The provision in the new mining bill approved by a group of ministers last week for 26 per cent profit sharing by mining companies with affected residents of the area they operate in hasn't been welcomed by many in the sector.
The Solicitor General had told the bench that several members of the National Disaster Response Force were working at the site and instead of the army, the government has sent navy personnel there as the mine was submerged in water.
Reliance Industries on Tuesday toppled state-run oil major ONGC to become the country's second most valued firm after TCS.
Select companies in infra, capital goods, private banks, auto, oil & gas, and mining could be considered by investors.
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).
It is up to the government to take a decision on this before it starts auctioning.
The incidence of shareholder activism in India is more than that in other Asian countries, according to a BNP Paribas Asia Strategy report.
Government-owned companies are more generous in rewarding their shareholders with dividends.
Its market capitalisation tops those of the 3 largest Indian firms combined
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
Gains were led by Tata Motors amid robust sales in June along with select financials.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
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.
Court says no evidence of cartel in low bids for coal blocks.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
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
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The 13 firms under consideration had nearly a million employees as of March 2018, including contractual and temporary workforce.
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 proposed units comprise seven coking coal washeries and 13 non-coking coal washeries.
The meeting was about capex, and as the country is on the growth path, the companies were advised to increase capex, NLC India Chairman and Managing Director S K Acharya said after the meeting.
The divestment department has lined up a host of companies.
Bids for eight coal blocks were sent for re-examination.
TCS emerges as biggest gainer with its m-cap advancing Rs 18,610.7 cr to Rs 4,97,168.53 cr
Ranchi Rays came back from a bitter loss in their previous game to clinch a remarkable 7-3 win over table toppers Dabang Mumbai in the Coal India Hockey India League in Ranchi on Thursday.
Jaiswal's statement came after Coal India said its multi-billion dollars worth of projects could become unviable if prices were not hiked. The PSU is seeking a nominal increase in prices of its products which were marginally revised last in 2007.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
The Centre has identified 50 new public sector undertakings (PSUs) to be put on the capital markets for selling 10 per cent of government stakes to raise funds for development programmes.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
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