State-owned Coal India on Tuesday reported a 10% YoY fall in its consolidated net profit to Rs 7,941 crore for the quarter ended June 2023. The profit was, however, higher than the ET NOW poll of Rs 6,738 crore. Revenue from operations also beat the estimates at Rs 35,983 crore in the reporting period, rising […]
Category: Coal
Coal India shares gain 2% despite weak Q1 show. Should you buy them?
Coal India shares jumped 2% to the day’s high of Rs 236 on the NSE in Wednesday’s trade after Indian brokerages took a favourable view on the state miner, notwithstanding a decline in the company’s year-on-year (YoY) net profit. Nuvama remains most bullish on the stock, estimating an upside of 57% while Motilal Oswal and […]
Govt auctions 6 coal mines in 7th tranche; NLC, NTPC among winners
State-owned NLC India and NTPC along with three private players have bagged coal blocks in the seventh round of auctions which concluded with the sale of all six mines put under the hammer, an official statement said on Friday. While NLC bagged North Dhadu (Western Part) coal block in Jharkhand with 434 million tonnes of […]
India’s parliament passes bill to provide fixed 50-year production lease for offshore minerals
A Bill to provide a fixed 50-year production lease for offshore minerals was passed by the Rajya Sabha on Thursday amid a walkout by opposition members over the situation in violence-hit Manipur. When the Upper House reassembled for the post-lunch session, Coal and Mines Minister Pralhad Joshi moved the Offshore Areas Mineral (Development and Regulation) […]
NMDC eyes production from domestic coal and gold mines: CMD
Iron ore mining Navratna NMDC will operationalise its domestic coal and gold mines, while also pursuing overseas mineral assets, including those for Lithium in Australia. Responding to a query from ET, NMDC’s Chairman and Managing Director (additional charge), Amitava Mukherjee said the mining company’s lithium mining plans are at an early stage and feasibility studies […]
Adani Enterprises Q1 profit grows 44%
Adani Group flagship company Adani Enterprises, which houses mining and trading businesses as well as incubates the group’s new business ventures, on Thursday reported a 44% growth in its profit for the April-June period even as revenue fell 37%. The company reported a consolidated profit of ₹674 crore for the quarter, compared with ₹469 crore […]
Technical breakout: Coal India, Persistent Systems, 7 other stocks cross 100-day SMA
Crossing the 100-day Simple Moving Average is a crucial technical indicator for stocks, often signaling potential shifts in short-term trends. On August 1, 2023, companies such as Jindal Worldwide, Vinati Organics, Navin Fluorine International, Persistent Systems, and Page Industries showcased strong performance in their respective sectors. Let’s explore the performance of these stocks. (Data Source: […]
NTPC, Hindalco Industries, Bajrang Power, Ispat bag coal mines in seventh round of auctions
NTPC, Hindalco Industries, Bajrang Power and Ispat bagged one mine each during the seventh round of coal auctions. NTPC Ltd bagged the North Dhadu (Eastern Part) coal block in Jharkhand, which has 439 Million Tonnes (MT) of coal reserves, the Ministry of Coal said in a statement on Wednesday. Hindalco Industries bagged the Meenakshi West […]
Coal India plans two thermal plants with Rs 21,547 cr investment in Odisha, Madhya Pradesh
State-owned Coal India Ltd (CIL) is planing to set up two thermal plants with an investment totaling Rs 21,547 crore in Odisha and Madhya Pradesh, an official statement said on Wednesday. While one project is planned near Amarkantak in Madhya Pradesh, the other is at Sundergarh district, in Odisha. “CIL has planned to set up […]
Coal India shares up 5% after July production rises 13.4%
Shares of State-owned Coal India (CIL) rallied 5% to Rs 240 in Tuesday’s trade on BSE after the company posted 13.4% growth in coal production at 53.6 MTs in July 2023 over last year’s July. The output increased by 6.3 MTs compared to 47.3 MTs production on July 22. “Progressively CIL’s production soared to 229.1 […]
SC paves way for auctioning of 50,000 mines in Rajasthan
The Supreme Court on Tuesday paved the way for auctioning 50,000 mines in Rajasthan by setting aside the 2013 verdict of the high court that the leases be granted on the basis of the earlier first come-first serve policy (FCFS). A bench of Justices A S Bopanna and M M Sundresh took note of the […]
Public sector coal companies to invest Rs 2.5 lakh crore in new business by 2030: Minister Pralhad Joshi
Public sector coal companies have made an investment plan of Rs 2.5 lakh crore by 2030 towards “new business”, Union Minister Pralhad Joshi said on Tuesday. The investment will be utilised to increase their capacity and usage of green energy, the Union Minister for Coal and Mines said at a session of Indian Construction and […]