Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
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.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
'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.'
Adani Power Ltd's Rs 7,017-crore deal to buy thermal power assets of DB Power has fallen after the initial pact expired. "We wish to inform that the long stop date under the memorandum of understanding dated August 18, 2022, has expired," Adani Power said in a regulatory filing on Wednesday. Earlier in August 2022, Adani Power had informed the bourses that it has agreed to acquire DB Power Ltd (DB Power), which owns and operates a running 2x600 MW thermal power plant at district Janjgir Champa in Chhattisgarh.
74 of these fatalities were reported by 8 companies: Coal India (21), L&T (14), Vedanta (13, of which Hindustan Zinc reported 7), Tata Steel (7), Power Grid Corporation of India (7), JSW Steel (6), and ONGC (6).
The government on Tuesday said it has received Rs 4,353 crore as dividend tranches from seven public sector enterprises, including Coal India and PFC. Government has respectively received about Rs 575 crore and Rs 2038 crore from Nuclear Power Corporation of India Ltd and Coal India Ltd as dividend tranches," Department of Investment and Public Asset Management (DIPAM) secretary Tuhin Kanta Pandey tweeted. Besides, about Rs 887 crore and Rs 653 crore have been received from Power Finance Corporation (PFC) and Hindustan Aeronautics Ltd as dividend tranches.
As many as 19 firms, including Reliance Industries Ltd (RIL), Adani Group and Tata have evinced interest for setting up solar manufacturing units under a production linked incentive scheme of the government. In April this year, the Union Cabinet approved a Rs 4,500 crore production linked incentive (PLI) scheme to boost domestic manufacturing capacity of solar PV modules. The scheme is aimed at adding 10,000 MW manufacturing capacity of integrated solar PV modules entailing direct investment of Rs 17,200 crore.
Navratna public sector unit Coal India Ltd has received a proposal to acquire 'The Kraal' -- Mahatma Gandhi's house in Johannesburg where he had lived a century ago -- and convert it into a memorial, the government has said.
The government on Tuesday advised investors to stay put with Coal India Ltd to multiply their fortunes and compared the strengths of the company with gold, which is considered the best long-term bet to create wealth.
A high-powered submersible pump from Coal India Ltd will be put into operation on Thursday.
India's largest ever public offer to raise up to Rs 15,000 crore (Rs 150 billion) will hit the market by the third week of October.
The Union Cabinet had last week decided to disinvest 10 per cent of its holding in the world's largest coal producer.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Growth in power demand remains in negative though it is picking up as coronavirus-related restrictions are eased.
The Navy wanted to ascertain the water level as their divers can operate up to 100 feet in a closed container-type situation, a district official said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
"The fourth body was found at 230ft in general area where the third body was found. It is located about 20 feet away from the pulley cart used to transport the dug-out coal," operation spokesperson R Susngi said.
A planned stake sale in Coal India in the last financial year had to be deferred after stiff opposition from the trade unions.
IT giant Tata Consultancy Services (TCS) on Tuesday slipped to fourth position in the list of the country's most valued companies, below Reliance Industries, ONGC and Coal India Ltd.
In an interview with Business Standard, CIL Chairman Singayapally Narsing Rao attributes the performance to volume growth but adds a decision on price hike will be taken at an appropriate time.
The move comes at a time when consumers are shunning high-quality coal, which has become costlier than prevailing market rates globally.
NTPC raises new demands, while CIL is not willing to yield
CIL is charged of discriminating in favour of public sector firms in the reworked format of fuel supply agreements.
Production and prices have been stagnant for several years, but the company's cost-cutting drive is showing results.
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.
The recommendation, if implemented, could severely dent coal miners' bottom line.
Demands include clearing eight critical coal blocks attached to projects of big corporate houses.
'They will be able to ride over this immediate crisis and carry on, but they need to take corrective steps and these will have to be long term measures which must include working closely with state governments.'
To float SPV, levy user charge on consumers to cover investment cost.
The Prime Minister's Office on Tuesday reviewed the coal supply and power generation scenario as the government looks at ways to defuse the energy crisis being faced by several states.
This follows finance minister's directive that PSUs should not fall short of the announced intention to invest.
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.
Can relax penalty payable in case of a shortfall on 80% committed quantity
CMD designate says company will do everything to meet the presidential directive.
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.
The statement comes in the wake of reports that warned of power crisis looming large due to the coal shortage in the country.
State-run Coal India on Wednesday toppled billionaire Mukesh Ambani-led Reliance Industries as the country's most valued company, with a slightly higher market valuation around mid-day.
The body has been detected inside the 370-foot-deep coal mine in Meghalaya's East Jaintia Hills district,
India's largest initial public offering (IPO), to be floated by Coal India Ltd, is generating enormous interest in the grey market. Investment bankers and stockbrokers that control this unregulated market are already trading CIL shares at a Rs 10-12 premium - even before the price band or issue date have been officially announced.
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