To tackle increasing demand, the Union Ministry of Power has urged central and state public-sector power-generating companies (gencos) and state power and energy departments to pick projects that are undergoing insolvency proceedings. The power ministry is looking at a quicker turnaround of these stressed power plants and enhancing power supply. Increasing demand is pushing states to scout for more power sources. "It is requested that state-owned gencos may be encouraged to participate in the corporate insolvency resolution process (CIRP) of stressed power assets, which are of strategic and commercial significance to the capacity addition plans of the states concerned.
While there are some new faces in the cabinet, leaders such as BJP president JP Nadda and Jual Oram have returned as ministers.
Jio Financial Services, the demerged financial services unit of Reliance Industries, will be listed on bourses on August 21, according to an exchange notification. Jio Financial Services Ltd (JFSL) demerged from Reliance last month and is currently listed under a dummy ticker after its price discovery at Rs 261.85 but there is no trading happening in the scrip. The listing on BSE and NSE has been scheduled a day before FTSE Russell plans to drop JFSL from its indices.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
The company has battled opposition from green groups since starting work on the project five years ago
The government has garnered Rs 2 lakh crore by auctioning 33 blocks.
The government has the power to allocate coal blocks to enterprises in specific sectors -- such as power, and iron and steel in particular.
Former Coal Secretary H C Gupta, who resigned as member of Competition Commission of India, was on Thursday questioned by the Central Bureau of Investigation in connection with coal blocks allocation from 2006 to 2009 during his tenure.
The Coal Regulatory Authority Bill, 2013, needs Parliamentary approval and is to be introduced in the next session, P Chidambaram told reporters.
Parliament has cleared the Mines and Minerals (Development and Regulation) Amendment Bill, 2023, recently. The objective of the Act is to invite investments from the private sector, including foreign companies, for mining minerals such as lithium and other critical minerals. Other than lithium, some of these minerals were classified as atomic minerals, including beryl and beryllium, niobium, titanium, tantalum and zirconium.
Industrial base metals major Hindalco delivered a strong consolidated performance during the January-March quarter (Q4) of FY24. Consolidated revenue was reported at Rs 56,000 crore, up 6 per cent quarter-on-quarter or Q-o-Q (flat year-on-year or Y-o-Y), with better realisation and higher India volumes.
The speech he gave in which he accused the Congress of getting black money in tempos from Ambani and Adani is remarkable.' 'It is a self-goal for sure, but indicates someone who has lost control, someone who is rattled.'
A week after he lost his father, Umesh Yadav brought India back into the reckoning in the third Test in Indore after he picked three Australian wickets in the morning session.
If the power plants are reporting low coal stocks with them, it is largely because they have improved their power generation to meet higher demand.
Many power firms, including NTPC -- the largest consumer of Coal India -- have refused to sign the supply pacts as they are opposed to certain clauses like minimum assured supply and the penalty to be paid by the state-owned coal producer, in case it fails to meet the commitment.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
The Congress on Wednesday said the Supreme Court judgment on certain matters relating to transactions by the Adani Group has proven to be 'extraordinarily generous' to Securities and Exchange Board of India (SEBI) and asserted that the party's fight against crony capitalism and its ill-effects on prices, employment and inequalities will continue.
'To sustain our growth trajectory, we must continue to explore and capitalise on growth opportunities.'
Non-mineral-rich states will benefit from tariff concessions.
CAG audit is likely to be completed in six months.
The judiciary has sent a strong message against crony capitalism.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
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.
"We will complain. He can meditate, but televisions cannot show it," she said, alleging that this will amount to "violation of the MCC."
Bad loans of state banks in coal industry was 0.23 per cent as of end-September, while for private banks it was 0.22 percent
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Delayed clearances for coal blocks, as well as companies' own failure in developing mines, appear to have had a financial implication of Rs 1.46 lakh crore (Rs 1.46 trillion) for the country.
Strong demand in the domestic market, coupled with an increase in raw material prices, is pushing up steel prices. According to SteelMint, a market intelligence and price reporting firm, the list price of flat steel has seen an increase of Rs 750-2,000 per tonne for October deliveries. The long steel price witnessed an increase of Rs 1,500 per tonne towards the end of September.
'Inter-ministerial coordination, information on the proposed PSUs, and due diligence are taking longer than expected to conclude the process.'
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
A bill to allow the private sector to mine six atomic minerals, including lithium, and deep-seated minerals like gold and silver was approved by the Lok Sabha on Friday.
The Congress on Friday alleged that the electoral bonds data has exposed 'corrupt tactics' of the Bharatiya Janata Party such as quid pro quo, seeking donations for the company's protection, kickbacks and money laundering through shell companies.
As part of the energy sector reforms, government is trying to evolve a consensus on commercial mining of coal to promote development of the sector, Coal Minister Sriprakash Jaiswal said.
Strong performance by its US subsidiary Novelis and better returns in the copper business helped Hindalco Industries post consolidated revenue growth of 2 per cent quarter-on-quarter (Q-o-Q) to Rs 54,100 crore in the July-September quarter of 2023-23 (Q2FY24). Novelis' Flat Rolled Products (FRP) volumes grew 6 per cent Q-o-Q to 933,000 tonnes (down 5.2 per cent Y-o-Y) on better North American and European volumes. The consolidated earnings before interest, taxes, depreciation, and amortization (EBITDA) declined 2 per cent Q-o-Q to Rs 5,610 crore despite lower input costs in India and better Novelis performance.
90 prominent Australians warn Indian energy giant Adani that its controversial coal mine project in Queensland could damage bilateral ties and even affect sporting links.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
In 2014, the Supreme Court of India revoked the allocation of more than 200 coal blocks which were sold by the government
This is the first coal scam case in which the special court has delivered its judgement.
Though the current National Democratic Alliance government has not endorsed the figure, it has not even repudiated it.
The key hurdle Adani needs to clear to secure loans for the Carmichael mine, rail and port project is dredging approval to expand its Abbot Point port.
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