One of the beneficiaries is Jindal Steel and Power, which had earlier been kept out of procurement for rails
The more crucial point is that India Inc can't argue against transparency.
It is targeting a rise in output to 16 million tonnes per year by 2016 from four million now.
The decline in these was mostly due to company or sector-specific issues, say experts.
The panel undertook the review of the blocks from September 6-8.
A court in Delhi on Tuesday asked the Delhi police to investigate the defamation complaint filed against Congress Member of Parliament Naveen Jindal and 16 others by Zee News editor Sudhir Chaudhary, who had alleged that false allegations were levelled against him to tarnish his image.
Meeting in the midst of a raging controversy, an inter-ministerial group on coal blocks on Monday skirted a decision on cancelling allotments of 58 mines, but firmed up the guidelines for forfeiting of bank guarantees for failure to develop them.
When the initial public offer of Jindal Power was announced in 2009, it was seen by investors as a golden opportunity to own a quality stock.
The Sensex fell by 24.20 points, or 0.12 per cent, to 19,460.57, its lowest close since December 31, 2012.
Renowned names from India Inc and politics are chargesheeted by the CBI before a special court in a coal blocks allocation scam case.
A look into the controversies the 42-year-old chairman and managing director of Jindal Steel and Power has battled in the last six months.
Naveen Jindal, Chairman and Managing Director of Jindal Steel and Power Ltd (JSPL), has topped the executive pay charts for listed companies in India.
The BSE benchmark Sensex recovered by over 88 points in early trade today after yesterday's losses on emergence of buying by funds and retailers, tracking a firming trend in Asian markets.
Jindal SAW, an O P Jindal Group company, is yet to receive a copy of the notice.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Russia's war on Ukraine has sent steel prices soaring to its highest levels in the domestic market since November 2021. But there is little cheer in the industry. That's because input costs are spiralling out of control, leaving the big boys nearly as high and dry as the small, medium and secondary steel producers. Russia and Ukraine are major providers of steel and raw materials to the world.
Young MPs show interest in joining Territorial Army
The court said accused cannot leave India without getting its permission.
Pune's Lavasa Lake City has run into rough weather with the environment ministry slapping a showcause notice on Lavasa Corporation for carrying out construction activities without its approval in 25,000 hectares.
A primary producer said that the prices would be raised in tranches this month and the total increase could be Rs 6,000 a tonne.
The O P Jindal Group has emerged as a strong contender for Ispat Industries, the debt-laden company owned by Pramod and Vinod Mittal.
JSW Steel, Tata Steel, Steel Authority of India, Bhushan Steel, Essar Steel, Jindal Steel & Power, and Rashtriya Ispat Nigam are among the top producers of the alloy in the domestic market
With the threat of a third Covid-19 wave looming large, companies are scrambling to protect employees and keep operations safe--from a no-jab-no-entry-at-workplace policy to ramping up vaccination, it's an all-out effort to prevent the scale of devastation seen in the first two waves. At least two top steel companies--Tata Steel and ArcelorMittal Nippon Steel India (AM/NS India)--are pushing for vaccination certificates for entry into work premises. AM/NS India, a joint venture between world's leading steelmaker, ArcelorMittal, and Japan's Nippon Steel, is set to make vaccination the certificate a requirement from July 1.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
India's top listed companies reported their best-ever quarterly net profit of Rs 2.39 trillion in the September quarter of FY22, up 46.4 per cent year-on-year. The earnings were driven by a big surge in the profitability of banks, non-banking financial companies & insurance (BFSI), oil & gas, and metal & mining firms. The combined net profit of these three cyclical sectors were up 87 per cent YoY to a record high of Rs 1.53 trillion, up from Rs 82,000 crore a year ago and Rs 1.08 trillion in Q1FY22.
Four companies, including India's largest private sector electricity generator Tata Power and infrastructure major Larsen & Toubro Ltd, chose not to bid for the Rs 16,000-crore ultra mega power project (UMPP) in Tilaiya in Jharkhand even as Reliance Power, Lanco Infratech and NTPC Ltd, the country's largest power producer, submitted their technical bids.
Essar Group has bid $150 million for taking over an Australian coal firm, Rocklands Richfields Ltd, bettering an earlier offer from Jindal Steel and Power Ltd.
The decision was taken by the ministry this week, a top Coal Ministry official said, while refusing to reveal the names of the companies.
The NSE 50-share index, after moving between 10,572.20 and 10,546.20, ended at 10,565.30, up 39.10 points, or 0.37 per cent.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The Tilaiya project is a part of the government's showcase UMPP scheme under which a power generation capacity of around 50,000 Mw is planned to be created through 13 of such mega projects, which will come up mostly in the Twelfth Plan period.
The $2.1 billion project is the largest investment by any Indian company in South America, apart from being the largest private investment in Bolivia.
Rising prices of international coal - both coking and thermal - used in the making of ferrous and non-ferrous metals, respectively, are expected to have an impact on margins of metals companies in July-September quarter (Q2) as steel companies may see margins getting eroded, while the base firms could stand to benefit, said brokerages.
Oil economists have been arguing the world over, a full removal of subsidies is the only way consumption will fall
Over 1,00,000 acres will be taken over by the Chhattisgarh, Jharkhand, Orissa and West Bengal governments or government agencies
From 5G to Tesla to Covid vaccine, 10 things will shape India's future.
Former minister of state for coal Dasari Narayan Rao, an accused in Jharkhand's Amarkonda Murgadangal coal block allocation scam case, on Tuesday said that decisions to allocate coal blocks were taken by then Prime Minister Manmohan Singh, who was also heading the coal ministry at that time.
An analyst who tracks investments for a Singapore-based foreign institutional investor, said, "The story doing the round in stock market circles is that companies that have been allocated coal blocks can make a lot of money by selling power at merchant rates."
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