India seeks to further liberalize its coal mining regime to ensure greater participation of all stakeholders, by allowing bidders to submit preferences for future mine auctions. Besides, as part of the Centre’s plan to usher in structural reforms in the coal sector, state-run Coal India Ltd is looking to merge e-auction windows to move toward […]
Category: Coal
Pimco rules out future Adani Ports investment on controversial Australia coal project
Pacific Investment Management Co., which is seeking to decarbonize its investment portfolio, has stopped participating in the bond offerings of Adani Ports & Special Economic Zone Ltd. because of its links to a controversial coal project Australia, according to a person familiar. Pimco, which is owned by Germany’s Allianz SE, did not participate in Adani […]
Illegal coal mining case: CBI searches at five locations in West Bengal
NEW DELHI : The CBI on Tuesday carried out searches at five locations in poll-bound West Bengal in connection with the illegal coal mining case involving alleged kingpin Anup Manjhi, officials said. The searches are being conducted at five locations of Manjhi’s alleged associate Amit Agrawal, a businessman, in Durgapur, Asansol and Bankura, they said. […]
CIL approves 32 mining projects involving incremental investment of ₹47K crore
State-owned Coal India Ltd (CIL) on Monday said its board has approved 32 coal mining projects in the current financial year (till January), indicating an incremental capital of around ₹47,300 crore. While 24 of the 32 projects are expansion of the existing ones, the remaining are greenfield (new) units, CIL said in a statement. “Scripting […]
Coal India declares interim dividend of ₹5 per share
The Board of Directors of Coal India in its meeting held today has approved payment of second interim dividend for the financial year 2020-21 of ₹5 per share. Coal India has fixed 16th March’ 21 as ‘Record Date’ for the purpose of payment of 2nd Interim Dividend on equity shares for the Financial year 2020-21. […]
Coal India’s earnings prospects rest on uptick in volume, e-auction premiums
Coal India Ltd’s production and sales numbers during February continued to disappoint, declining by 6.6% and 6.2% respectively. Though production at SECL, the company’s largest coalfield, increased, the disappointment was led by a decline in production at most other coal fields. Volume growth has remained a key concern of the street. Analysts attribute Coal India’s […]
Coal India board approves second interim dividend. Details here
Coal India on Friday said that its board approved payment of second interim dividend of ₹5 per share for 2020-21. The state-owned company has fixed March 16 as ‘Record Date’ for the purpose of payment of second interim dividend on equity shares for 2020-21, Coal India said in the regulatory filing. “The board of Directors […]
Coal India’s second interim dividend likely to be Rs4-5 per share
KOLKATA : State-owned Coal India’s second interim dividend could be in the range of ₹4-5 per share as it is working to match the previous year’s total dividend amid an outstanding of ₹25,000 crore, coupled with sluggish demand, sources said on Thursday. The miner had announced ₹7.5 per share as the first interim dividend in […]
India’s coal import drops 12 % to 181 MT in Apr-Jan
NEW DELHI : India’s coal import registered a drop of 11.59% to 180.84 million tonnes (MT) in the first 10 months of the ongoing fiscal. The company had imported 204.55 MT of coal in April-January period of the previous fiscal year, according to provisional data compiled by mjunction services. mjunction — a joint venture of […]
Core sector grows at 0.1% in Jan
New Delhi: India’s eight infrastructure sectors continued to underperform with 0.1% growth in January against 0.2% expansion recorded in December. While crude oil, natural gas, refinery products and cement output continued to contract in January, steel and electricity output expanded further. However, coal output slipped into the negative territory after a gap of six months, […]
Coal scam: ED files fresh chargesheet against Jharkhand-based company, directors under PMLA
The Enforcement Directorate (ED) has filed a fresh charge sheet here under Prevention of Money Laundering Act (PMLA)in a coal blocks allocation scam probe case against a Jharkhand-based company and its directors. The first chargesheet was filed in December, 2018. ‘The supplementary chargesheet or prosecution complaint was filed before a special court against Domco Pvt […]
Centre invites comments on allowing sale of 50% coal from captive blocks
The central government is planning to permit the sale of 50% of coal/lignite produced by captive blocks, the Union ministry of coal said in a statement. The move is aimed at augmenting the production and increasing the availability of dry fuel. The move will be carried out by incorporating a provision in the Mines and […]