Indian private sector and State-run refiners continued to receive crude oil from Russian suppliers even after November 21 -- the winding-down date for US sanctions on supplies from leading Russian oil producers imposed in October -- as new intermediaries sprung up in West Asia to sell the oil, according to senior refining sources and ship tracking data.
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
This is because the government's move might dim the possibility of taking over the 42 blocks permanently.
Last week, the Indian markets were all about coal. However, amidst the hype over the debut of Coal India Ltd (CIL) on domestic bourses, what was mostly overlooked was the brand new logo of the world's largest coal miner.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
The move comes at a time when consumers are shunning high-quality coal, which has become costlier than prevailing market rates globally.
Writes to coal secretary; may move court today as it finds directors' response inadequate.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
The Federation of Indian Chambers of Commerce and Industry (Ficci) president RV Kanoria calls for privatisation of Coal India Limited (CIL), the world's largest coal producer and India's public sector unit.
Coal India is transporting extra volumes of coal to power plants ahead of a five-day worker union strike that threatens to cut much of its per-day output of 1.6 million tonnes.
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.
India's state-owned miner had posted a whopping 68 per cent jump in net profits for the half-year ended September, 2011.
Aiming to garner over Rs 15,000 crore (Rs 150 billion) through the largest ever public offering in India, the government on Tuesday decided to price Coal India's IPO in the range of Rs 225-245 a share for divesting its 10 per cent stake.
The issue, through which the Centre will be divesting 10 per cent of its stake, garnered applications for 5,67,40,450 shares within the first hour of opening.
Currently, the government holds 100 per cent stake in the PSU and plans to offload 10 per cent equity through the IPO, which will offer 63.16 crore (631.6 million) shares.
Partha S Bhattacharyya, the outgoing chairman of Coal India, is probably best described as the man who led the company's transition from the world's largest coal miner to the country's fourth largest company in terms of market capitalisation.
To offset the impact of high import costs, the Planning Commission has said that CIL should adopt a pooling formula on prices by combining rates of imported and domestic coal.
State-owned Coal India Ltd has decided to make a foray into power generation and the company is in talks with Neyveli Lignite Corporation to set up a 2000 mw pithead power plant at its subsidiary Mahanadi Coalfields Ltd.
Second largest shareholder wants public commitment to have market-linked coal prices
The Union Cabinet had last week decided to disinvest 10 per cent of its holding in the world's largest coal producer.
The CAG report, tabled in Parliament on Tuesday, said because of non-deployment of pay loaders, South Eastern Coalfields Ltd, a CIL subsidiary, failed to utilise gainfully the existing crushing facilities and to earn an additional revenue of Rs 12.76 crore (Rs 127.6 million) during June 2010 and May 2011.
Bankers claim they have received good response to the roadshows held abroad for Coal India, IndianOil and PowerGrid.
A Lancet report reveals a significant increase in deaths attributable to PM2.5 pollution in India, with fossil fuels being a major contributing factor. The report highlights the economic and health consequences of air pollution and the urgent need for a transition to cleaner energy sources.
As it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by its mines.
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.
Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
This was perhaps a missed opportunity for India to spotlight a core domestic challenge: The scale of workforce preparation required for a young, populous, rapidly growing country seeking to reach net zero, points out Radha Roy Biswas.
Says Coal India is ready to sign at 80% trigger level, with 15% imported coal on cost-plus model.
The Kolkata-based coal miner has tied up with the US-based Advance Resource International Inc for exploration and identification of the potential shale deposits within the company's coal blocks.
Despite his influence, Pratik Jain avoids the spotlight. Credit is routinely passed on to colleagues. He maintains no visible faction within the TMC, no personal coterie.
United States President Donald Trump reiterated the claims of having to do 'something' about Greenland, saying that if US doesn't take any action, Russia and China would spring in and that Washington, DC does not want to have them as neighbours.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
To meet fuel supply commitments to the power sector, the government today said CIL might divert a portion of the coal meant for e-auction to power plants.
NRW is one of the leading providers of construction and mining services with a turnover $1.35 billion in 2011-12.
Coal India employees, who were barred by their unions from buying shares during the mega-IPO last year, may after all get another opportunity.
.jpg)
JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
The country's largest coal producer Coal India is likely to decide in 2-3 days on roping in anchor investors for its upcoming mega initial public offer, Coal Minister Sriprakash Jaiswal said here on Friday.
Over 25 years, societies evolve and tastes change. Cinema absorbs and reflects this transformation. Picking only 25 films from the first quarter of the century is tough.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances