Adani group opened a $1.2 billion copper plant, bought a port in Odisha, raised stakes in a cement company and stitched an alliance with rival Mukesh Ambani's Reliance Industries, all in a matter of one week in signs that the apples-to-airport conglomerate has shrugged off the Hindenburg effect and is back to rapid expansion spree. In the last one week, Adani group has through regulatory filings and press statements announced expansions and investments in its mainstay ports business, diversification into metal refining, fund infusion into a two-year-old cement foray and continuing progress in the commissioning of its mega solar project.
These three blocks figure in the 'Schedule I' list of those coal mines, which are being auctioned afresh
The Central Bureua of Investigation sought a maximum of seven years imprisonment for the five convicted persons and imposition of heavy fine on the private firm.
Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under its trade pact with the EFTA bloc on these goods over a period of time. India and the four-European nation bloc EFTA signed a trade and economic partnership agreement (TEPA) on Sunday to boost trade and investments between the two regions. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland.
The incident occurred at around 7.30 pm on December 29 when a massive mound of earth came crashing down on excavators at Lalmatia open cast coal mine of Eastern Coalfields Ltd, the worst such disaster in over a decade.
Initiating the process of allocation of coal mines, the government on Monday invited proposals from PSUs for alloting 17 blocks to them, mostly for captive power plants.
Growth of eight key infrastructure sectors rose to 8 per cent in July 2023 compared to 4.8 per cent in the same month last year on expansion in production of coal, crude oil, and natural gas, according to the official data released on Thursday. Production of steel, cement and electricity also grew in July, the data showed.
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.
The former coal secretary opens up in a free-wheeling interview.
Aided by robust demand, automobile retail sales in India rose by 11 per cent last year as compared to 2022, dealers' body FADA said on Monday. The overall domestic automobile retail sales stood at 2,38,67,990 units in the 2023 calendar year as compared to 2,14,92,324 units in 2022. Passenger vehicle sales stood at 38,60,268 units last year, up 11 per cent from 34,89,953 units in 2022.
Attacking the Centre on the coal allocation controversy, Gujarat Chief Minister Narendra Modi on Monday said the scam was 'blackening the country's face'.
The Planning Commission had recently recommended leaving the coal prices to the market and allowing free trade of coal nationally and internationally. Although coal prices were deregulated in 2000, the rates are fixed by the coal PSUs under the guidance of the coal ministry.
Indonesian coal making its way to India provides about a third less energy than supplies from South Africa or Australia.
Coal industry expert Sunjoy Joshi tells Sheela Bhatt/Rediff.com that the NDA's e-auction of coal blocks will not solve the fundamental problems that dog the industry.
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.
Gadkari and Singh on Thursday came together to release a book on late Congress leader Ramkrishna More at Pimpri Chinchwad near Pune.
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The Greens are calling for an urgent investigation.
The power sector is always strongly correlated to economic activity and is receiving its share of investor attention as India's post-Covid-19 recovery continues. India's leading integrated power producer, the public sector undertaking (PSU) NTPC controls around 25 per cent of India's power capacity. It continues to increase installed capacity, in thermal as well as renewables (solar, wind, green hydrogen) and hydropower and pumped hydro, and also has backward integration into coal mining, and explored nuclear.
Prabhu-led advisory group also suggests JVs with mining and infra firms.
As Partha S Bhattacharyya steps down as CMD, the search for a successor is being keenly watched.
In one of the first steps towards coal block re-allocation, the government has finalised the methodology to calculate coal price for e-auction and a Cabinet proposal on this is likely to be floated in a fortnight.
It is up to the government to take a decision on this before it starts auctioning.
The economy can't grow without increasing electrification, which requires more power plants, and given coal is the cheapest form of fuel and is abundant, it makes sense that India is looking to boost the use of the fuel.
Besides the jail term, the special court also imposed a fine of Rs 25 lakh on Koda and Rs one lakh on Gupta.
The government has agreed to remove coal from the list of essential commodities in the Essential Commodities Act, the Lok Sabha was informed on Thursday.
The Enforcement Directorate (ED) has summoned Trinamool Congress MP Abhishek Banerjee to appear before it in Kolkata on November 9 in connection with the alleged school jobs scam, a TMC leader said on Wednesday.
'While lower steel prices may impact a part of the quarter, this will be offset by softer raw material prices.'
The Bharatiya Janata Party on Thursday came out with a book on the coal scam titled 'The Great Coal Robbery'.
Analysts believe total cost of production at Rs 1,000/tonne reasonable for power firms.
The S&P BSE Midcap and the S&P BSE Smallcap indices have managed to stay afloat in a volatile January that saw the frontline indices hit their respective 52-week high levels and then slip. While the S&P BSE Sensex has lost over 2 per cent thus far in January, the S&P BSE Midcap and the S&P BSE Smallcap indices have gained nearly 2.5 per cent and 4 per cent, respectively during this period.
The government on Friday said the auction of explored coal blocks may take place either by December or the beginning of the next year.
Latching on to comments by former Coal Secretary P C Parakh, the opposition on Wednesday targeted Prime Minister Manmohan Singh, saying he cannot escape responsibility in the controversial allocations as held the charge of the Coal Ministry at that time.
World is moving away from coal production, but it still forms a big part of power generation.
With the recent arrest of two Bharatiya Janata Party activists who had taken part in the Ayodhya agitation back in 1992 snowballing into a controversy, Karnataka Chief Minister Siddaramaiah on Tuesday said a criminal is always a criminal unless acquitted by a court of law.
As the stand-off between the government and the Bharatiya Janata Party on the coal block issue continued, answers to Parliamentary questions for the current session related to Coal ministry are missing from the Rajya Sabha website.
India is looking at buying coal mines in Australia through two state-owned entities in a bid to bridge the domestic coal supply-demand shortfall, a top government official said on Monday.
Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, according to the official data released on Monday.
Kharge also targeted Prime Minister Narendra Modi, saying the people should not believe Modi's "guarantees".
Tata Power, Sesa Sterlite and Hindustan Zinc likely to be hit.
Close on the heels of Mukesh Ambani's Reliance Industries seeking coal mines to convert coal into oil, younger brother Anil-run Reliance Natural Resources has applied for coal blocks to turn coal into gas. Reliance-Anil Dhirubhai Ambani Group (R-ADAG) president J P Chalasani in a January 14 letter to Coal Secretary H C Gupta sought allocation of "captive coal blocks for the purpose of converting coal to gas."
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