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.
Disinvestment Commission has recommended sale of 49 per cent stake in mining consultancy subsidiary Central Mine Planning and Design Institute to a strategic partner after making it an independent company.
Under attack for several files pertaining to coal block allocations going missing, Coal Minister Sriprakash Jaiswal said that he had asked officials to locate the missing papers by Tuesday and hinted the Central Bureau of Investigation may be asked to look into the case after that.
Coal India Ltd on Tuesday announced an average 16.7 per cent hike in prices of all grades of coal from midnight on Tuesday.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
Rigorous pumping of water from the nearby abandoned mines is expected to begin on Friday.
The body, located 200 feet away from the bottom of the mine, was brought out using the Indian Navy's underwater remotely operated vehicle and an National Disaster Response Force boat on Wednesday, said operations spokesman R Susngi.
The government is selling over 18.62 crore shares or 3 per cent in Coal India at a floor price of Rs 266 apiece.
The government sold 63.16 crore shares or 10 per cent stake in Coal India through an offer for sale (OFS) on January 30.
Coal India would be second company to hit the markets under the government's disinvestment programme.
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.
TCS emerges as biggest gainer with its m-cap advancing Rs 18,610.7 cr to Rs 4,97,168.53 cr
At least 15 miners were trapped in the 370 foot-deep illegal coal mine in Lumthari village of East Jaintia Hills district since December 13 and all efforts to pump the water out of flooded mine have been in vain.
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.
Oil explorer ONGC again emerged as the highest profit-making PSU of the country during 2012-13 while telecom major BSNL turned out to be the biggest loss-making enterprise, says the Economic Survey.
Out of the seven companies, Coal India Ltd and SBI were the top gainers in an overall strong stock market. ONGC, ITC and Infosys were the losers for the week ended April 11.
According to the decision, such entities can now first operate through e-commerce and then open brick-and-mortar stores.
The Solicitor General had told the bench that several members of the National Disaster Response Force were working at the site and instead of the army, the government has sent navy personnel there as the mine was submerged in water.
The ministry has also noted the controversial proposal of opening up the coal sector and restructuring of CIL.
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It is a non-deal roadshow that begins amid threat of workers strike against divestment move
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
They, however, called off their nationwide strike
In New York, the dollar fell against the British pound on Wednesday after the Bank of England raised its projections for UK growth in 2014. However, analysts warned that gains against the dollar could be limited.
The first lot of 74 mines will be auctioned to specific end-users and allocated to state-owned entities by March.
Coal workers across the country have resumed work after a two-day strike and promised to make up for an estimated 1 million tonne production loss, as the government assured that state-run behemoth Coal India will not be privatised and employees' interests would be paramount.
Labour unions, with a history of hostility towards management, are pushing back on Coal India's plans, fearing modernization and outsourcing will hit jobs.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
On skeletons being seen by the Navy team, the sources said the water inside the mines has high Sulphur content which can decompose the bodies very fast.
The government on Friday said the auction of explored coal blocks may take place either by December or the beginning of the next year.
Coal India was listed on November 4, 2010, and its market value today stands at over Rs 2 lakh crore.
At the bank's current market price, the stake on offer is worth about Rs 5,700 crore
While TCS, RIL, ONGC, CIL, HDFC Bank, Bharti, HDFC and HUL saw rise in their market capitalisation (m-cap), ITC and Infosys suffered losses.
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JSPL and Balco had emerged as the highest bidders in the recently concluded auctions.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
It said the authorities were making all efforts to save the lives of these persons and the Indian Navy and planes and helicopters of the Indian Air Force have been deployed in the rescue operation.
The scheme, which was earlier implemented by the coal companies, has been extended for the current fiscal also.
The IOC stake sale will, however, dwarf in front of Rs 22,557 crore or Rs 225.57 billion that the government raised through a stake sale in Coal India Ltd last year.
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