Coal India Ltd, the world's largest coal producer, may buy up to a 15 per cent stake in US-based Peabody Energy Corp's Australian assets early next fiscal for an estimated USD 100 million (about Rs 450 crore).
The amount is around a fifth of the cumulative investment in fixed assets by these companies.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
Kicking off its disinvestment drive, the government will sell 5 per cent of its stake in steel major SAIL on Nov 5.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
'Are all roads in India privatised? Are governments not playing a role in airports or ports? If they (private players) want to set up lines for a specific requirement, I see no reason to object. It will expand the opportunity and passengers will also benefit.'
Court says no evidence of cartel in low bids for coal blocks.
The NSE Nifty ended 89.40 points, or 0.83 per cent, lower at 10,710.45.
Ranchi Rays came back from a bitter loss in their previous game to clinch a remarkable 7-3 win over table toppers Dabang Mumbai in the Coal India Hockey India League in Ranchi on Thursday.
TCS emerges as biggest gainer with its m-cap advancing Rs 18,610.7 cr to Rs 4,97,168.53 cr
ArcelorMittal, Anglo Australian major Rio Tinto, Hyderabad-based GVK Power & Infrastructure, Essar Mineral Resources and JSW Steel are among 10 prominent corporations in a shortlist to develop 18 abandoned coal mines owned by state-owned Coal India Ltd and its eight subsidiaries.
The divestment department has lined up a host of companies.
Broader markets broke the winning streak and ended lower, underperforming the benchmark indices
The Ministry of Finance may seek the Union Cabinet's approval for the proposed 10 per cent stake sale in state-owned Coal India Ltd by the end of this month, a senior Coal Ministry official said
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Bids for eight coal blocks were sent for re-examination.
The government is likely to go ahead with divestment in 12-15 public sector units, including SAIL, Coal India, Hindustan Copper, Satluj Jal Vidyut Nigam Ltd and Engineers India Ltd among others next fiscal to raise Rs 40,000 crore, as stated in the budget.
The proposed units comprise seven coking coal washeries and 13 non-coking coal washeries.
Among key stocks, Tata Motors, Hero MotoCorp, L&T, Wipro, ICICI Bank, Dr Reddy's Labs and ICICI Bank, all up between 1%-3%
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Reflecting the bearish mood, all sectoral indices, led by metal, teck and healthcare, ended in the negative zone.
In the long run, the decision could bring clearer rules to a sector that has failed to provide India with enough power because it has been so hamstrung by confusion and scandals over concessions allegedly handed to government cronies.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The company bought peace with the Union coal ministry by agreeing to almost halve its e-auction sales at 30 million tonnes this year, to make more coal available for the fuel-starved power sector.
Jaiswal's statement came after Coal India said its multi-billion dollars worth of projects could become unviable if prices were not hiked. The PSU is seeking a nominal increase in prices of its products which were marginally revised last in 2007.
The NSE Nifty ended up 19.65 points, or 0.20 per cent, at 9,788.60 after shuttling between 9,854 and 9,775.35 during the day.
The Centre has identified 50 new public sector undertakings (PSUs) to be put on the capital markets for selling 10 per cent of government stakes to raise funds for development programmes.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
About 48.5 million shares, or 20 per cent of the shares on offer, are reserved for retail investors
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.
State-run coal behemoth has left behind the IT bellwether Infosys, power utility NTPC Ltd, the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter into the club of top 10 most valued firms.
"We expect the government to exempt our employees from paying tax on housing perquisites. On an average, every year our non-executive workers pay about Rs 144 crore to the government on account of such tax. Exemption will motivate our employees, working and living in difficult conditions," said Coal India Ltd Chairman P S Bhattacharyya.
The government may bestow the coveted 'MahaNavaratna' tag on oil majors ONGC and IOC, telecom firm BSNL, power utility NTPC, steel-maker SAIL and Coal India to given them greater autonomy and powers to take decisions to invest up to Rs 5,000 crore (Rs 50 billion).
The rupee fell to a two-year low of 64.84 against the US dollar.
The 50-share NSE Nifty, however, was little changed, ending 1.20 points down
"We have recommended that at least 20 per cent of coal should be sold through e-auction," said Kirit Parikh, member (energy), Planning Commission. CIL currently puts for sale about 10 per cent of its annual production through online bidding. The National Coal Distribution Policy has already recommended increasing this quantum in a bid to ensure better price discovery of the fuel.
Coal accounts for more than 60 per cent of India's electricity capacity, and the government plans to nearly double annual coal output by 2020, opening a new mine nearly every month
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
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