As much as 8,580 MW of coal-based power generation capacity is under outage due to shortage of fuel across the country. According to the latest report of the Central Electricity Authority’s (CEA) operation performance monitoring division, 1,740 MW capacity was offline in West Bengal
Reliance Power said it has been awarded damages of $56 Million, or about Rs 390 cr, by an arbitration panel in Singapore in relation to the acquisition of three mines in Indonesia.
The latest ban on import of petcoke as a fuel, except for use by a few industries, would turn out to be beneficial for city gas distribution (CGD) players, credit rating agency ICRA said.
Niti Aayog has called for awarding deep-seated mines on a first-come-first-serve basis to accelerate their mining and production and attract large private sector investment, according to a senior official at the government think-tank.
Shares of Coal India hit an over two-month high of Rs 292, up 3% on the BSE in an otherwise range bound market on expectations that government may defer stake sale in the company as the stock falls. The stock was trading at its highest level since June 11, 2018, on the BSE.
Domestic coal supply appears to be headed for a strong growth in the next five years, resulting in a decline in non-coking coal imports within this time period, said a CRISIL report.
The government has advised Coal India that the deadline for a minimum 25% public holding has been deferred by two years since the stock has underperformed, company executives said.
Coal India share price climbed 3 percent intraday Monday after reports indicated that the government is planning to sell some minority stake in the company.
India’s coal imports appear headed for another strong month in August, raising the question as to why the usually cost-sensitive market hasn’t scaled back purchases given a surge in prices to the highest in nearly seven years.
At Rs 37.8 bn, Q1 PAT rose 61% y-o-y – higher volumes (+12%), realisations (+10%, hike in Jan18), evacuation facility charges (effective Dec’17) offset in part by higher costs (wage negotiations concluded in Oct’17).