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.
Mutual funds (MFs) scooped up smallcap shares across sectors such as healthcare, banking and financial services in March 2024 amid a near 4.5 per cent fall in key smallcap indices. Aster DM Healthcare, NLC India, and Aavas Financiers topped the list of most-bought stocks in the Rs 10,000-40,000 crore market capitalisation (mcap) bracket, according to a study by Nuvama Alternative & Quantitative Research. Aster and Aavas had corrected by 13 per cent and 10 per cent in March, respectively, while NLC India ended the month with a 2.5 per cent gain.
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.
Mutual funds' largecap investment universe is expected to see seven changes in the upcoming stock reclassification exercise by the Association of Mutual Funds in India (Amfi). According to a report by IIFL Securities, Hero MotoCorp, Zydus Lifesciences, JSW Energy, NHPC, Bharat Heavy Electricals, Bosch and Samvardhana Motherson are expected to earn upgrades in the revised list of largecap, midcap and smallcap stocks set to be released in the first week of July. Amfi revises the list at the start of January and July every year based on the previous six-month performance of the stock.
The government has received Rs 413 crore as dividend tranches from five CPSEs, including NLC and NALCO. "Government has received Rs 78 crore and Rs 165 crore respectively from Antariksh corp and NLC as dividend tranches," DIPAM secretary Tuhin Kanta Pandey tweeted.
The mishap occurred at the fifth unit of the thermal power station-II (210 MW x 7) when workers were in the process of resuming operations on Wednesday morning.
The government on Thursday decided to sell 10 per cent shares in Nalco and Neyveli Lignite Corporation.
The rumour verification process would now be triggered by changes in price or 'material price movements', as the paper defines it. What this means is that companies would need to verify rumours only if the share price moves significantly.
Neyveli Lignite Corporation Ltd is planning to invest Rs 10,000-12,000 crore in setting up power projects. It is also planning to foray into renewable energy, by setting up wind energy farms and solar units.
The BJP has nothing to lose after a point. For the DMK it is a difficult choice, as it would not want to give too much of space to a 'national party' lest the 'Dravidian duel' of the past decades should be lost forever, observes N Sathiya Moorthy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
A change in recommendation in favour of Birla did certainly happen but the question is whether it was a bona fide decision. Jyoti Mukul reports
Mining and power generation at the public sector Neyveli Lignite Corporation came to a standstill
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The company signed a JV agreement with Coal India to set up 5000 Mw of solar and thermal projects. These projects are expected to commence between 2023 and 2027.
Since January this year, Indian exporters have begun to dread the shipping news. That's because most of it would be about another lot of shipping companies deciding to avoid Indian ports on account of delays.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Marumalarchi Dravida Munnetra Kazhagam leader Vaiko was arrested in Neyveli, Tamil Nadu, when he and party workers tried to picket the Neyveli Lignite Corporation office, demanding that the public sector unit stop power supply to Karnataka, which has stopped release of Cauvery water to Tamil Nadu.
The massive electricity grid failure earlier this week, that left a majority of India in darkness, has impacted the volumes of power generation companies. The worst power black-out in the world hit their revenues by an estimated Rs 550 crore (Rs 5.5 billion) in two days.
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 Coal Ministry on Monday received a total 69 applications from various PSUs
The finance ministry has short listed 11 PSUs for a possible buyback of shares in the ongoing financial year
ETFs function like a mutual fund scheme and have underlying assets of government-owned companies.
Power generation and lignite mining, which were totally paralysed due to the strike, commenced at 9:30 pm.
Prime Minister Manmohan Singh has decided to keep all divestment decisions and proposals on hold following concerns voiced by some constituents of the United Progressive Alliance.
DMK organising secretary T K S Elangovan says the party is opposed only to the sale of profit-making PSUs.
This comes at a time when the COVID-19 crisis is expected to derail the government's revenue maths for 2020-21, hitting the mop-up from sources such as taxes and divestment.
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.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Earlier this month, market regulator Sebi had given go- ahead to the disinvestment department's proposal to give preference in share allotment to those PSUs located in states in which Neyveli's generating units were located.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.
The meeting was about capex, and as the country is on the growth path, the companies were advised to increase capex, NLC India Chairman and Managing Director S K Acharya said after the meeting.
This will encompass the sale of Air India, a number of other privatisation initiatives, mergers, initial public offerings, the Centre's two exchange-traded funds, buybacks and offers-for-sale, and even monetisation of land assets.
Pawan Hans, Dredging Corp on list to meet target of Rs 800 bn for 2018-19
Lines up seven OFS issues along with half a dozen IPOs for the next few months
The previous highest divestment proceeds for the first half of a year was around Rs 21,000 crore in 2016-17.
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