MUMBAI : Finance Minister Nirmala Sitharaman’s announcements over the weekend to allow commercial mining in India’s coal production and remove the government monopoly is unlikely to provide an immediate relief to stressed thermal power companies even as they benefit from improved coal linkages in the long run. Analysts say that since the earliest coal evacuation […]
Category: Coal
Nirmala Sitharaman announces major reforms in coal, defence manufacturing
NEW DELHI : After having announced economic package and relief measures for farmers, migrant labourers, MSMEs, SMEs, NBFCs, MFIs and other categories, Finance Minister Nirmala Sitharaman today released the fourth tranche of her ₹20 lakh crore economic package today with a focus on structural reforms. As announced the Prime Minister Narendra Modi earlier, the stimulus […]
Coal India may remain under a shadow as demand to stay weak
Coal India Ltd has had a forgettable start to the new fiscal year with despatches falling by 25.4% year-on-year in April following a drop in demand for thermal power because of the shutdown across the country. At a mere 39.1 million tonnes, this is the lowest April volume since FY13, said analysts at Edelweiss Securities […]
Coal India April shipments fall 25.5% as lockdown erodes demand
Shipments dropped to 39.1 million tons in the month, the Kolkata-based miner said in a filing late FridayCoal India Ltd.’s shipments in April slumped 25.5% from a year earlier after more than a month-long nationwide lockdown halted economic activity, eroding demand for India’s most dominant energy source. Shipments dropped to 39.1 million tons in the […]
NLC India commences coal mining operations in Odisha
NLC India Ltd has commenced production from its coal mines in Odisha having a production capacity of 20 million tonnes per annum. The Talabira II and III coal mines were allotted to the Navratna firm in 2016 to meet the requirement of its existing and future coal-fired power plants. “By achieving success on this project […]
India adopts cautious approach to reopening of businesses post 20 April
NEW DELHI : India unveiled an initial plan to put its battered economy back to work and restore its broken supply chain, as it sketched out the first cautious steps out of the lockdown. Starting 20 April, India will allow key parts of the economy, including agriculture, logistics, infrastructure, e-commerce and factories (located outside the […]
Rising inventory and lower sales: likely story for Coal India in FY21
Coal India Ltd is likely to see more demand shocks this fiscal year as demand for electricity is expected to remain muted following the lockdown. The stock has underperformed the broader market in the past one year, tumbling 41% against the 22% fall in the Nifty 50 index. Due to the lockdown, several major factories […]
Covid-19 pandemic: Coal India arms set up 1,509 isolation beds in 8 states
NEW DELHI : State-owned CIL’s subsidiaries have set up 1,509 isolation beds in eight states in the fight against the , an official said. The eight coal bearing states are Jharkhand, West Bengal, Odisha, Madhya Pradesh, Uttar Pradesh, Chhattisgarh, Maharashtra and Assam. Of the 1509 beds, Coal India arm Mahanadi Coalfields Ltd (MCL) has set […]
Here’s why coal is now the world’s most expensive fossil fuel
Coal, the dirtiest and usually the cheapest option for energy, is now the world’s most expensive fossil fuel. Oil’s epic collapse over the past month means the global crude benchmark is now priced below the most widely traded coal contract on an energy-equivalent basis, according to Bloomberg calculations. Australia’s Newcastle coal on ICE Futures Europe […]
India 2019 thermal coal imports rise 12.6% to nearly 200 million tonnes
NEW DELHI : India’s thermal coal imports rose 12.6% to nearly 200 million tonnes in 2019, government data reviewed by Reuters showed, reflecting the second straight year of growth in shipments of the fuel despite attempts by the government to cut imports. Coal is among the top five commodities imported by India, the world’s largest […]
Here’s who’s backing coal as some of the world’s biggest banks get out
Moves by some of the world’s biggest banks to end coal financing for the sake of the planet was supposed to create major headaches for companies like Whitehaven Coal Ltd.Yet there was the Australian miner on a conference call last month announcing the refinancing and extension of a A$1 billion ($650 million) credit line, backed […]
Coal India results give little reason for stock to rise from decadal lows
Mumbai: The Coal India Ltd stock may not be firing up any time soon as volume offtake in the third quarter (Q3) has been patchy, with demand for the fuel by thermal power plants also slowing a little. That has certainly not helped its stock, which is meandering near decadal lows, and remained flat during […]