Villagers protesting against the expansion of a coal mine clashed with police in Chhattisgarh's Surguja district, resulting in injuries on both sides. The protest stems from opposition to the Amera extension coal project of South Eastern Coalfields Limited (SECL), despite the land acquisition process being completed in 2016.
Utilities in the power sector present an interesting investment case at this moment. Most power stocks have lost substantial ground in the past 12 months.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
The Securities and Exchange Board of India (Sebi) is set to introduce key reforms aimed at facilitating smoother mega initial public offerings (IPOs). Key among the proposals is a reduction in the quota reserved for individual investors - those applying for less than Rs 2,00,000 per application - from the current 35 per cent to 25 per cent for large IPOs (issue size above Rs 5,000 crore).
Stock markets are in for an event-heavy week ahead with a raft of Q1 earnings from blue-chips, the US Fed interest rate decision and foreign investors trading activity driving investors' sentiment, analysts said. Macroeconomic data announcements, monthly auto sales numbers and global market trends would also guide movement in the domestic equities, they said.
'For 40 years, India valued only technical skills. IITs, coding -- that became everything.' 'Soft skills were sidelined. But those are the skills that will keep you employable now, not technical skills.'
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Coal India looks set to achieve its 2024-25 (FY25) production targets. If it can achieve its aim of ramping up Fuel Supply Agreement (FSA) and e-auction volumes, along with cost-saving, evacuation and infrastructure-improvement projects, the company could maintain its momentum as a critical infrastructure and core industry performer. Analysts estimate e-auction volumes of 108 million tonnes (MT) in FY25 and 120 MT for FY26, which is encouraging given the premium of e-auction prices which are consistently over 50 per cent higher than FSA.
The US Fed interest rate decision, trading activity of foreign investors and quarterly earnings from corporates would largely drive the momentum in the equity market this week, analysts said. Escalating tensions between India and Pakistan over the Pahalgam terror attack will also remain on investors' radar, they added.
'The universe of PSU stocks is huge and diverse.' 'Investors should bet on specific sectors and stocks from the basket as most of them may continue to consolidate after years of outperformance.'
Coal behemoth CIL on Thursday reported a 26.2 per cent rise in consolidated net profit to Rs 8,682.20 crore for the March quarter on the back higher supplies of the dry fuel. The company's consolidated net profit stood at Rs 6,875.07 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated income in the January-March period declined to Rs 39,654.50 crore from Rs 40,371.51 crore a year ago.
Dividends paid by central public-sector enterprises (CPSEs) in 2024-25 are set to be the highest ever, with the government receiving 69,873 crore so far. A government official said he was hopeful the receipts would touch 70,000 crore in the last week of the financial year.
Refusal to share his mPIN cost the businessman his life.
Coal India (CIL) produced 89 million tonnes (MT) in March-24, up 6 per cent year on year (Y-o-Y) and offtake was 69 MT, up 7 per cent Y-o-Y. FY24 production was 774 MT, up 10 per cent Y-o-Y. Offtake was 754 MT, up 9 per cent Y-o-Y. CIL targets production of 838 MT in FY25, up 8 per cent Y-o-Y over FY24.
Coal India Limited's (CIL) October-December quarter of financial year 2023-24 (Q3FY24) results have beaten the Street's estimates. Revenue rose 3 per cent year-on-year (Y-o-Y) to Rs 36,200 crore, led by higher volumes and better realisation from Fuel-Supply Agreement (FSA) coal. The blended average selling price (ASP) was down 6 per cent Y-o-Y to Rs 1,727 per tonne, and the FSA ASP was up 3 per cent Y-o-Y to Rs 1,532 per tonne.
Institutional investors lapped up Coal India shares in this fiscal's maiden government stake-sale, with Rs 6,500 crore bids pouring in on the first day of the offer-for-sale. The government had offered over 8.31 crore shares to institutional investors on Thursday under the offer-for-sale (OFS), but received bids for 28.76 crore shares or 3.46 times. At the indicative price of Rs 226.12 a share, the bids of institutional buyers are worth Rs 6,500 crore.
India, the world's third largest oil consuming and importing nation, spent 112.5 billion euro (about Rs 1.5 lakh crore) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for fossil fuels since February 24, 2022. "According to our estimates, since the beginning of the war, Russia earned EUR 835 billion in revenue from fossil fuel exports," it said.
The body of one of the nine workers trapped inside a coal mine in Assam's Dima Hasao district was recovered by army divers on Wednesday on the third day of the rescue operations, officials said.
After several years of consolidation and price weakness, the cement industry may be moving towards a more stable phase. Pan-Indian, average cement prices have risen through the past three months consecutively.
Notwithstanding the recent sharp decline in the stocks of public sector companies, analysts at Jefferies remain bullish on this segment. State Bank of India, Coal India, and NTPC are their top picks in this space, they said in a recent note. The public sector undertaking (PSU) or state-owned enterprise (SOE) index, with a 70-percentage-point outperformance versus the National Stock Exchange Nifty50 over the past 12 months, comes after a decade of underperformance before 2020.
Conflicting views on Coal India (CIL) might leave investors confused. The bullish perspective that India has strong power demand (and also high steel production) means high demand for coal. As CIL is the monopoly producer of coal -- supplying over 80 per cent of the domestic requirement - the public sector undertaking should be a beneficiary of the rising power demand.
State-owned mining giant, Coal India, is hoping to recover around 75-80 per cent of its liabilities from customers with whom it has long-term fuel supply agreements (FSAs) after the Supreme Court (SC) allowed states to recover dues retrospectively. A legal recourse, however, is underway. "We are impacted in two states - Jharkhand and Odisha.
Power utilities may report moderate growth in earnings for Q3FY25. Generation is up 3 per cent year-on-year (Y-o-Y) in Q3 on lower cooling demand and high base, to 429 billion units (BU). Peak demand was steady at 224 Gw in Q3FY25, a 10 per cent decline from the record highs of 250 Gw in May 2024.
A team of navy, army, NDRF, and SDRF personnel are working to rescue nine workers trapped inside a coal mine in Assam's Dima Hasao district. The mine is suspected to be illegal, and one person has been arrested in connection with the incident. Rescue efforts have been underway since Monday, but no workers have been found yet.
"'His mantra was simple yet profound: Be number one or be ready to be wiped out. There's nothing in between," he used to say and it was a reminder for all to always aim high, to push boundaries, and to strive for excellence.
Amid the low stock position at the electricity generating plants, state-owned CIL has asked its subsidiaries to refrain from conducting any further e-auction of coal, except special forward e-auction for the power sector, till the situation stabilises. The development assumes significance as the supply of coal is being prioritised to the power sector to replenish the dwindling stock in the wake of reports of an electricity crisis looming large. "In view of the current low stock position at the powerhouse end, supply of coal is being prioritised to the power sector to replenish the dwindling stock...coal companies are advised to refrain from conducting of any further e-auctions of coal with the exception of special forward e-auction for the power sector, till the situation stabilises," Coal India said in a recent letter to its arms, including Eastern Coalfields Ltd (ECL), Bharat Coking Coal Ltd (BCCL), Central Coalfields Ltd (CCL).
Coal production by Coal India (CIL) has grown slower than the captive mines, awarded over the last six years. During 2020-22, production from the captive mines jumped by 38.5 per cent while CIL saw a tepid growth of 3.4 per cent, according to government data. In terms of dispatch to the power sector, captive mines have raced ahead, witnessing a growth of 72 per cent compared to 15 per cent for CIL. For the current fiscal year, CIL's production is expected to be around 565 million tonnes.
If investors still have appetite to buy shares in one of the region's most expensive markets, Coal India might stack up.
Bajaj Housing Finance Ltd's impressive stock market debut has brought cheer to the 100-year-old Bajaj Group, but the conglomerate faces the prospect of Bajaj Finserv being removed from the benchmark Sensex index. According to market expectations, Trent, a Tata group-owned fashion retailer, is likely to replace Bajaj Finserv during the upcoming index rebalancing in December.
The US Fed interest rate decision, ongoing quarterly earnings, macroeconomic data and FII trading activity are the major triggers that will drive stock markets this week, analysts said. Investors would also track global market trends and the movement in global oil prices for further cues. "This week, the focus will shift to global cues, particularly the US markets," Santosh Meena, Head of Research, Swastika Investmart Ltd said.
In June last year, India unveiled its first list of 29 critical minerals open for private sector exploration and mining. Since then, 38 critical mineral blocks have been auctioned, but only 14 - less than 37 per cent - have found bidders. This modest achievement was secured only after the Centre conducted a second round of auctions when the first round fell flat, failing to attract the minimum required bidders.
'Those betting against PSUs will likely be punished in this upswing.'
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
'With the deployment of a higher degree of mechanisation, awarding contractual mining to MDOs and operational efficiency, we feel confident of achieving the desired target.'
The CMOAI had earlier called for a three-day strike that began on Thursday.
In June, Sensex went up 6.6% and Nifty 6.9%, their best monthly gains since December 2023.
The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Zama, however, said the unions would keep resisting any move that could undermine the position of Coal India.
The CCI passed this judgment in two different cases relating to the e-auction scheme and fuel supply agreements which were filed last year.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
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