The government may bestow the coveted 'MahaNavaratna' tag on oil majors ONGC and IOC, telecom firm BSNL, power utility NTPC, steel-maker SAIL and Coal India to given them greater autonomy and powers to take decisions to invest up to Rs 5,000 crore (Rs 50 billion).
The company bought peace with the Union coal ministry by agreeing to almost halve its e-auction sales at 30 million tonnes this year, to make more coal available for the fuel-starved power sector.
State-run coal behemoth has left behind the IT bellwether Infosys, power utility NTPC Ltd, the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter into the club of top 10 most valued firms.
"We have recommended that at least 20 per cent of coal should be sold through e-auction," said Kirit Parikh, member (energy), Planning Commission. CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
Under attack for several files pertaining to coal block allocations going missing, Coal Minister Sriprakash Jaiswal said that he had asked officials to locate the missing papers by Tuesday and hinted the Central Bureau of Investigation may be asked to look into the case after that.
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.
'If Indians are as smart as their counterparts in university, and have equal opportunity, then what is the reason that we cannot produce inventions of quality that are recognised by the world?'
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
Coal accounts for more than 60 per cent of India's electricity capacity, and the government plans to nearly double annual coal output by 2020, opening a new mine nearly every month
Coal consumers across the country sourcing coal from Coal India Limited through the e-auction mode are sore over the recent rise in earnest money deposit for procurement of coal and also the bulk transport of e-auction coal through the road route which has pushed up the cost of the raw material.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Investors went looking for bargain in banking, oil and gas and auto stocks.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
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.
Move aimed at avoiding crowding of public issues during the Centre's mega disinvestments in coming months.
The companies that have signed these pacts with the India chapter of the Berlin-based Transparency International include PSU majors such as GAIL (India), Coal India, Oil and Natural Gas Corporation, Steel, Hindustan Petroleum Corporation, Steel Authority of India, National Mineral Development Corporation and Rashtriya Ispat Nigam. In fact, 12 of the 14 companies that signed the pact, did so in the last six months.
On skeletons being seen by the Navy team, the sources said the water inside the mines has high Sulphur content which can decompose the bodies very fast.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
PM Modi, who was addressing the nation in the 18th edition of his Mann Ki Baat programme, said Team India has recently registered two brilliant wins in the World T-20.
State behemoth Coal India, the world's largest coal miner, has failed to raise its output fast enough to meet demand, and millions of Indians still go without power.
Market players say the government is likely to attempt, at least, one big-ticket sale this month.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
Dual methodology for e-auction to introduce price ceiling for power sector
Wrestling coach Anoop Singh and Paralympics coach Naval Singh among other nominees get Sports Ministry approval
Over the past week, BSE Sensex fell sharply by 701.24 points to 27,366.07
The comments follow media reports that the government is looking to sell 10 per cent stake in Coal India to raise Rs 24,000 crore (Rs 240 day).
Aditya Birla flagship Hindalco Industries on Monday said it has entered into a joint venture with Mahanadi Coal Ltd (MCL) and Neyveli Lignite Corporation (NLC) for carrying out mining activities.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
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.
In the first nine months of 2017, investment banks pocketed Rs 500 crore for helping companies raise Rs 30,853 crore through IPOs.
For first time in 8 yrs, stake sale proceeds could exceed Budget Estimates. ONGC's acquisition of HPCL alone could get the exchequer more than Rs 30,000 crore.
The placement season has brought in positive cheer for students at the IIT Kharagpur this year.
The ongoing corporate results and the Union budget are also making participants tread cautiously though the GST agreement provided some relief.
The government, which on Thursday decided to sell ten per cent stake in NALCO, now contemplates offloading ten per cent stake in the Coal India Limited through initial public offerring.
ICICI Pru's IPO is being managed by 10 investment banks, including Bank of America Merrill Lynch and ICICI Securities
FMCG major ITC on Tuesday surpassed state-run energy giant ONGC to become the county's second most valued firm in terms of market valuation, with TCS at the top of chart.
The country's biggest carmaker is now more valuable than the combined market cap of the three leading automobile companies in the country: Tata Motors (Rs 1,18,684 crore), M&M (Rs 86,336 crore) and Ashok Leyland (Rs 34,700 crore).
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