The Indian equity markets will soon account for over a fifth of a key emerging market (EM) benchmark tracked by funds with assets exceeding $500 billion. This development is expected to funnel as much as $3 billion into the domestic markets. Following the latest review undertaken by global index provider MSCI, India's weighting in the MSCI EM index will surpass 20 per cent for the first time, narrowing its gap with the current top-weighted China to fewer than 400 basis points.
Coal India achieved a staggering production of 536.51 million tonnes during the financial year ended March 31, 2016
Five leading unions (INTUC, AITUC, BMS, HMS, and CITU) had given the strike call from January 5 to 7 to press for their wage revision demand. However, with the Coal India management and the unions entering into a memorandum of understanding on the wage agreement in Hyderabad on Sunday, the strike has been called off.
'India's top companies currently lack the organisational wherewithal to hire and train 2 million interns annually, given their current scale of operations and existing employee base.'
As Partha S Bhattacharyya steps down as CMD, the search for a successor is being keenly watched.
The Competition Commission of India (CCI) is to be congratulated for imposing a large fine, of nearly Rs 1,800 crore (Rs 18 billion), on Coal India Ltd for alleged abuse of its monopolistic position.
The government may offload a maximum of 10 per cent of its stake in the state-run firm. Currently, its holdings in CIL stands at 100 per cent.
Way before the rains arrived at Talwandi Sabo Power plant in Punjab, the one check the coal ministry was carrying out was the availability of coal stock with the generator. Talwandi Sabo Power Limited (TSPL), the 1,980-Mw thermal power plant of Sterlite Energy, part of the Vedanta Group, which supplies about 15 per cent of Punjab's power, is one of the most difficult locations to manage coal supplies. It is nearly 1,700 km from the mines of Mahanadi Coalfields in Odisha, the longest coal route in India and possibly the trickiest as it cuts through the traffic heavy rail lines between Delhi and eastern India.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
The company has already received the coal ministry's nod to reduce the face value of its shares to Rs 10 from Rs 1,000 at present.
The state-run miner, which recently raised a record Rs 15,000 crore (Rs 150 billion) from the markets, is running short of executive manpower, even as it looks at expanding production to meet rising coal demand in the country.
The government on Thursday suspended chairman and managing dof Coal India Limited N K Sharma on alleged charges of corruption during his tenure, official sources said in New Delhi.
Bankers claim they have received good response to the roadshows held abroad for Coal India, IndianOil and PowerGrid.
Coal India's foreign-venture arm Coal Videsh chief general manager Phalguni Guha said he expected the deal with Peabody to be finalised in the next 'few months'.
This is because the government's move might dim the possibility of taking over the 42 blocks permanently.
The CAG report, tabled in Parliament on Tuesday, said because of non-deployment of pay loaders, South Eastern Coalfields Ltd, a CIL subsidiary, failed to utilise gainfully the existing crushing facilities and to earn an additional revenue of Rs 12.76 crore (Rs 127.6 million) during June 2010 and May 2011.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
Second largest shareholder wants public commitment to have market-linked coal prices
India's state-owned miner had posted a whopping 68 per cent jump in net profits for the half-year ended September, 2011.
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.
Among the 30 Sensex companies, Larsen & Toubro, Power Grid, NTPC, State Bank of India, Reliance Industries and HDFC Bank were the biggest laggards. Sun Pharma and Nestle were the only gainers.
The PPP model for CIL was first mooted by the Planning Commission.
Writes to coal secretary; may move court today as it finds directors' response inadequate.
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.
Growth in power demand remains in negative though it is picking up as coronavirus-related restrictions are eased.
Coal India IPO has become a runaway success, beating all records to become the largest public issue in India.
An Inter-ministerial panel had last month approved 10 per cent equity sale in Coal India. At present, the government holds 90 per cent stake in the firm.
The Union Cabinet had last week decided to disinvest 10 per cent of its holding in the world's largest coal producer.
Aiming to garner over Rs 15,000 crore (Rs 150 billion) through the largest ever public offering in India, the government on Tuesday decided to price Coal India's IPO in the range of Rs 225-245 a share for divesting its 10 per cent stake.
Eight investment banks including HSBC and India's ICICI Securities and SBI Capital have submitted bids to manage a 10-per cent stake divestment in state-owned Coal India.
The Coal India offering would follow a 5 percent stake sale in state-controlled Oil and Natural Gas Corp, worth $2.8 billion and slated for December.
As per the Interim Budget 2024-25 document tabled in the Lok Sabha, the government is not expected to receive any money from monetisation of public assets in the current fiscal.
Last week, the Indian markets were all about coal. However, amidst the hype over the debut of Coal India Ltd (CIL) on domestic bourses, what was mostly overlooked was the brand new logo of the world's largest coal miner.
The issue, through which the Centre will be divesting 10 per cent of its stake, garnered applications for 5,67,40,450 shares within the first hour of opening.
The move comes at a time when consumers are shunning high-quality coal, which has become costlier than prevailing market rates globally.
Trade unions on Tuesday began a five-day coal industry strike, terming it as the biggest industrial action for any sector since 1977.
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.
The government on Thursday announced that state-owned Coal India is likely to enter the international market.
The top 100 companies have accounted for 63% of the gains (Rs 51 trillion out of Rs 81 trillion), while firms beyond the top 100 have contributed 37 per cent (Rs 30 trillion).
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The newly appointed CMD at Coal India has a tough road ahead.
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