Maiki South Mining Pvt Ltd has bagged the country's first lithium block in Chhattisgarh that was put up for sale, the government said on Monday. Meanwhile, the government cancelled the auction of 14 critical minerals that were on offer in the second round of auction. The Katghora lithium and rare earth elements (REE) block in Chhattisgarh was awarded to the company at an auction premium of 76.05 per cent.
Operating margins have been the primary driver of corporate earnings in India in recent quarters, despite revenue growth suffering from weak consumer demand. Companies across sectors have reported a sharp improvement in earnings before interest, tax, depreciation, and amortisation (Ebitda) margins over the past two years, benefiting from lower commodity and energy prices. Higher margins more than compensated for slower revenue growth, resulting in double-digit growth in net profit for five consecutive quarters.
There's a straightforward relationship between economic activity and power consumption. If economic activity increases, so does power consumption. Since the latest GDP (gross domestic product) data indicates India's growth rates exceeded expectations in the second half if the 2022-23 financial year (H2FY23) and GDP estimates of FY24 are strong, we would expect power consumption to rise as indeed it has. There is also a direct relationship between power consumption and National Thermal Power Corporation or NTPC's results since the public sector undertaking (PSU) is the largest power generator in India.
With the Supreme Court (SC) cancelling captive coal block allocations, Jindal Steel & Power Limited will be the worst-affected company.
Adani Power bagged Jitpur mine in Jharkhand.
The court issued notice to the ministry and directed it to file its response in two days.
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
India, which wants to double its coal output by 2020, in February raised the tax on mining coal to $6 per tonne from $1 in a bid to make it more expensive to consume the dirty fuel
After climbing to a record high of Rs 523 on September 30, shares of commodity major Vedanta have come off over 15 per cent amid a fall in the overall markets. The Anil Agarwal-led firm's latest slump comes after its stock price doubled over the past one year. Is it a blip or a trend reversal?
India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion) will hit the market by the third week of October.
In order to keep the interest of new and small players intact, the coal ministry is offering only small- and medium-sized coal mines in the second round.
Worried over the fallout of the Supreme Court's observations on allocation of coal blocks, India Inc wants the apex court to consider a reprieve for those allotted to genuine companies that have invested billions.
'This was earlier driven by industries and the commercial sector.'
Closes 20 points lower on a bout of profit-booking.
Because of his proximity to Indira Gandhi, he was able to intervene directly at the level of the PMO, which he did in the days leading up to the partition of Pakistan in 1971 when he transferred crucial information about Pakistan's moves via information handed to him by an East Pakistani diplomat in Poland where he was posted.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
Court says no evidence of cartel in low bids for coal blocks.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
In fact, the 9 per cent growth story cannot happen without coal, which fires over 50 per cent of the country's installed power capacity, says Partha S Bhattacharyya.
'Invest only in stocks of those companies that deliver on earnings and there is earnings visibility too for the next few quarters.'
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
Power firms can pass on burden to consumers, stocks rise up to 2%
The massive coal mine in Queensland state has been a controversial topic, with the project expected to produce 2.3 billion tonnes of low-quality coal.
India's corporate sector is likely to report a slowdown in revenue growth and earnings for the July-September 2023 period (Q2FY24), according to earnings estimates by brokerages, after the country's top listed companies posted higher than expected profits for the first quarter. The combined net profit of Nifty50 companies, based on brokerage estimates, is expected to have grown by 19.6 per cent year-on-year (Y-o-Y) to Rs 1.75 trillion in Q2FY24 - a sharp deceleration from 37.6 per cent Y-o-Y growth in the combined earnings of index companies in the April-June 2023 period. According to estimates, the combined earnings in the second quarter would be down 8.8 per cent on a quarter-on-quarter (Q-o-Q) basis and the lowest in the past three quarters.
India's steel market is out of step with global trends. Global demand is weak with China at a huge supply surplus to its domestic demand, pushing down global steel prices. India's domestic demand for steel is strong, given the continuing infrastructure push and is likely to accelerate as urbanisation improves, and the auto sector continues to grow alongside the infrastructure push.
If the markets regulator has not yet sent an advisory note to Coal India on its chief executive's frequent announcements in the media, it is probably because it is a public sector enterprise.
Bollywood doesn't need fire-breathing dragons when it has Bhai.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
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.
Despite these challenges, his strong voice for the state's tribal population has been central to his political identity
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
'On November 8, two women activists were assaulted and left for dead because they were following the illegal mining trail. This is how bad the coal mafia is in Meghalaya.' 'Most politicians own coal mines, some policemen own coal mines and some in the administration own them.' 'So what you have is a nice cocktail and everybody is protecting each other.'
Analysts are advising a cautious stance on the steel sector due to a combination of factors. The major one is that China has maintained momentum on steel exports in CY24 and there could also be domestic over-supply in the medium-term. Trade data for Jan-Feb'24 shows that China's finished steel exports rose 31 per cent year-on-year (Y-o-Y) to 15.9 MT.
The strong demand for coal will continue, as India fails to produce as much fuel as it targets.
'Birla only made representations to then PM for coal blocks allocation.'
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).
R-Power, Essar could be hit as state mulls benefit-sharing levy for ecology loss.
State-run Coal India on Wednesday toppled billionaire Mukesh Ambani-led Reliance Industries as the country's most valued company, with a slightly higher market valuation around mid-day.
'It has changed the political character of India by ejecting socialism as an ideology from the Constitution of India.'
Corporate earnings grew in double digits during the April-June 2022 (Q1FY23) quarter but the momentum waned. Overall corporate earnings in the quarter were down sharply from their highs in FY22. The combined net profit of 2,981 listed companies across sectors in the Business Standard sample was up 22.4 per cent YoY to Rs 2.24 trillion in the June quarter, driven by a big jump in the earnings of banks, non-banking lenders, oil & producers, and FMCG companies. Also, earnings in the corresponding quarter a year ago were affected because of the second wave of the Covid pandemic, even though the numbers were a lot better than Q1FY21 when there was a nationwide lockdown.
