Reliance Energy Ltd and Tata Power Company are eyeing an equity stake in an Indonesian coal firm -- Bumi Resources -- to meet fuel requirements for their power plants in India.
Finance Minister Nirmala Sitharaman on Thursday announced a Rs 11.11 lakh crore spending on infrastructure and vowed to continue reforms as she resisted resorting to populist measures in Modi government's last Budget before general elections, instead choosing to stay on the path of cutting deficit while bolstering measures for focus groups.
Shares in Jindal Steel and Power Ltd were heading towards their biggest daily loss in almost two years on Monday.
With the cooling down of heatwaves as the monsoon spreads across the country, power demand has fallen by 12.5 per cent from the start of this month till Monday. Peak power demand of the country had touched a record of 210 Gw last week, mostly due to rising temperatures and opening up of the economy. Compared with the beginning of this month, almost all states have seen a fall in power demand. Punjab, however, is an exception where the power demand on Monday was 17 per cent higher than on June 1.
The shift to gross calorific value-based grading of coal aligned domestic prices with international benchmarks.
Close to a thousand villagers stood for hours in the formation of a life-size human windmill near Khidki village in Alibag on Tuesday, in what could well be the largest protest for renewable energy in India till date.
Amid strong opposition from CIL workers union to the proposed stake sale in the company, Finance Minister P Chidambaram has said the disinvestment proceeds of about Rs 20,000 crore (Rs 200 billion) from the coal behemoth will be invested in public sector banks.
Acting in the coal block allocation scam, the Central Bureau of India on Tuesday filed cases against five companies for alleged criminal conspiracy and misrepresentation of facts, naming Congress MP Vijay Darda and his brother Rajendra Darda, a Maharashtra Minister, in one of the FIRs.
Pawar posted on X, formerly known as Twitter, pictures of him and Adani cutting a ribbon of the factory.
Odisha Chief Minister Naveen Patnaik may be questioned by CBI for writing a letter of support in favour of Hindalco, an Aditya Birla group company, after its bid for coal mines was rejected by coal ministry.
The Union Government on Thursday said that 5.9 million tonnes of lithium reserves have been found for the first time in the country in Jammu and Kashmir. Lithium is a non-ferrous metal and is one of the key components in EV batteries. "Geological Survey of India for the first time established Lithium inferred resources (G3) of 5.9 million tonnes in the Salal-Haimana area of the Reasi district of Jammu and Kashmir," the ministry of mines said on Thursday.
The mass cancellation of coal blocks by the Supreme Court has sent banks in a jittery mode as they have extended over Rs 1 lakh crore loans to power plants that were fed by these mines.
According to its DRHP filed in 2010, the company's net worth was just Rs 140 crore. Its total income for the financial year 2009-10 stood at Rs 119 crore and it had a net profit of Rs 16 crore. In sharp contrast, at the end of March 2021, Paytm's networth was Rs 6,535 crore and total income stood at Rs 3,187 crore.
Russia has been grappling with sanctions slapped by the US and its allies over Moscow's invasion of Crimea.
The Communist Party of India-Marxist on Thursday said it would decide its strategy on the coal block allocation issue on the basis of a statement Prime Minister Manmohan Singh may make in Parliament on the matter.
Alleging that the Congress and the Bharatiya Janata Party were hand-in-glove on the coal block allocation issue, erstwhile Team Anna on Thursday announced gherao of the residences of Prime Minister Manmohan Singh and BJP chief Nitin Gadkari on Sunday.
Aiming to raise Rs 40,000 crore (Rs 100 billion) from disinvestment, the government on Wednesday said it will sell its stake in 10 more PSUs, including IndianOil, MMTC, Coal India Ltd, SAIL, RINL and Shipping Corporation, in the current financial year.
CIL workers are represented by five unions -- Indian National Trade Union Congress, Hind Mazdoor Sabha, Bharatiya Mazdoor Sangh, AICWF and All India Trade Union Congress.
The stalemate in Parliament over coal block allocations entered its tenth day on Tuesday as the Bharatiya Janata Party persisted with its demand for the resignation of Prime Minister Manmohan Singh. Lok Sabha and Rajya Sabha were adjourned till noon after the Opposition triggered ruckus on the issue.
Indian CEOs might like to make some serious course correction.
India's Tata group, which plans to invest $2 billion in Bangladesh, wants to explore coal as a source of energy for its proposed steel and power plants in the country.
Aditya Aluminium project ready but clearances still stuck for mine
OSCO E&C said Adani had asked it to halt its design work as of July 16, with tentative plans to resume work in early October.
With another quarter of steady growth in demand, cement companies are expected to report strong year-on-year (Y-o-Y) growth in earnings, according to analysts. The September quarter (Q2FY24) also witnessed a resumption of price hikes in certain markets. UltraTech Cement, India's largest cement producer, reported a 15 per cent Y-o-Y increase in cement sales in the country for the quarter under review.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Top losers in the Sensex pack included Tata Steel, Vedanta, Maruti, SBI, Coal India, Tata Motors, Sun Pharma, HUL, RIL, IndusInd Bank, Axis Bank, HDFC duo, ICICI Bank, M&M, Kotak Bank, and Infosys, falling up to 2.89 per cent.
India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
The 54-page document tabled in Parliament detailed how the Modi-government pull the economy from being counted among the most fragile-five in the world to being the fasted growing and the most attractive investment destination.
Paid Rs 15,474 cr against CIL's Rs 13,075 cr in FY15
Australia's green political party on Wednesday warned the government for approving India's Adani group's plan to expand a major coal port on the fragile Great Barrier Reef coast, saying it will hasten the death of the natural wonder, a World Heritage site.
The government expects to raise up to Rs 12,000-15,000 crore (Rs 120-150 billion) through Coal India IPO, billed as the country's largest ever.
It was August 2007. Tata Steel was turning 100. Jamshedpur, its hometown, had an air of celebration. The line-up for the special event included the launch of Air Deccan's commercial flight connecting Kolkata and Jamshedpur, and release of Russi Lala's new book, Romance of Tata Steel. There was also the screening of The Spirit of Steel, a 20-minute documentary directed by Zafar Hai showcasing Tata Steel's legacy, and a corporate anthem penned by Javed Akhtar and composed by Shankar, Ehsaan and Loy.
Besides offtake pact, the navratna firm has planned equity infusion and forming joint ventures to expand its global footprint.
When Vineet Mittal first got into solar power, sometime around 2009, and was planting solar panels in Gujarat, renewable energy looked like a sector ripe for startups. Renewables were clearly the future of energy, and the big boys - Mukesh Ambani's Reliance, Adani Group, and the Tatas - were focusing much more on coal and petroleum. Little did Mittal know that things were going to change drastically.
'The central learning of the day was that if the BJP leadership can cajole, coax and convince regional parties to vote for bills, it would not be a stretch to see the same votes cast in favour of the land bill,' a senior Congress leader from a northern state told Rediff.com
Automobile retail sales in India rose to a record high in November, aided by the best ever monthly performance across passenger vehicle and two-wheeler segments, dealers' body FADA said on Wednesday. The overall retail sales stood at 28,54,242 units last month, 18 per cent higher over 24,09,535 units in November 2022. Passenger vehicle (PV) retail sales rose to 3,60,431 units as compared to 3,07,550 units in the year-ago period, registering a growth of 17 per cent.
Coal India wants to organise PAN cards and demat accounts for each of its 400,000 staff ahead of its IPO.
The 15-member team, equipped with specialised diving equipment including a re-compression chamber and remotely operated vehicles capable of searching underwater, went straightway to the mine site in the remote Lumthari village in East Jaintia Hills district.
Adani has blamed opposition to its mine for delays in moving the $7 billion project to the construction phase
LIC public offer, the country's biggest-ever IPO, on Wednesday opened for subscription for retail and institutional investors. The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. The LIC initial public offering (IPO), now open for retail and institutional investors, is set to close on May 9. LIC has fixed the price band at Rs 902-949 per equity share for the issue.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances