County Coal Financial News

Aro Granite Industries Ltd.(up 2.75%), The Orissa Minerals Development Company Ltd.(up 1.57%), 20 Microns Ltd.(up 1.32%), Lexus Granito(India)Ltd.(up 0.97%), Coal India Ltd.(up 0.35%), NMDC Ltd.(up 0.18%) and Gujarat Mineral Development Corporation Ltd.(up 0.03%) were among the top gainers.

according to two people in the know of the development. State-run Coal India is the only firm allowed to sell coal through e-auctions. The provision of penalty would now be part of the e-auction contracts going ahead, they said.

Benchmark NSE Nifty closed 4.75 points up at 24143.75 amid buying in frontline bluechip counters.

Ugar Sugar Works Ltd.(up 1.44%) and Vishwaraj Sugar Industries Ltd.(up 0.68%) stood among the top gainers.

Prataap Snacks Ltd.(up 5.75%), Sheetal Cool Products Ltd.(up 3.80%), LT Foods Ltd.(up 3.00%), Hindustan Foods Ltd.(up 2.36%), Bajaj Consumer Care Ltd.(up 2.30%), Mrs. Bectors Food Specialities Ltd.(up 1.83%), Heritage Foods Ltd.(up 1.53%), Honasa Consumer Ltd.(up 1.09%), Gillette India Ltd.(up 0.99%) and Colgate-Palmolive(India)Ltd.(up 0.33%) stood among the top gainers.

mutual funds (MFs) and foreign institutional investors (FIIs) were seen pulling out money from at least 13 PSU stocks in the June quarter. Interestingly, small retail investors ended up buying all of them. Q1 shareholding pattern reveals that MFs sold stakes in 28 PSU stocks and FIIs were bearish on 30 such counters. Altogether there were 13 'sarkari' stocks sold by both the big boys of Dalal Street.

Narendra Modi is planning to visit Poland and Ukraine between August 21 and 23 with a message of dialogue and diplomacy amid intensification of Russia-Ukraine conflict. It comes just over a month after Modi visited Russia and Austria. This will be an Indian PM's first visit to Warsaw in over four decades despite Poland being India's largest trading and investment partner in central and eastern Europe. From Warsaw, Modi is expected to go to Kyiv on a half-day visit, ET has learnt.

New Delhi: Coal India Ltd has removed the limit on the quantity purchased by power producers and allowed supply beyond their annual contracted volume. The company has done away with an earlier provision which allowed coal supplies up to a maximum of 120% of the contracted quantity to power plants, it said on Tuesday. Now, the simplification would benefit the power plants which prefer to lift higher quantities of coal beyond their stipulated contracted quantity, it said.

ICICI Bank, RailTel, CONCOR and Coal India among a host of other companies are likely to remain in focus next week as they are approaching their record dates for the purpose of dividend, bonus issues and stock split. The record date is the date set by the company to decide the shareholders who are eligible to receive the offer. To be eligible for a buyback offer, bonus issue or a stock split, the shares should be in the demat account on the record date.

The NSE Nifty index ended the session 304.96 points up at 24297.5, while BSE Sensex rose 874.94 points to 79468.01.

20 Microns Ltd.(up 11.68%), The Orissa Minerals Development Company Ltd.(up 10.00%), Madhav Marbles & Granites Ltd.(up 8.91%), Coal India Ltd.(up 6.39%), Pokarna Ltd.(up 4.66%), KIOCL Ltd.(up 3.48%), MOIL Ltd.(up 2.67%), NMDC Ltd.(up 2.62%), Gujarat Mineral Development Corporation Ltd.(up 2.33%) and Sandur Manganese & Iron Ores Ltd.(up 2.30%) stood among the top gainers.

Coal India Ltd and GAIL (India) Ltd have signed a pact for setting up a coal-to-synthetic natural gas plant using surface coal gasification technology in Raniganj area of West Bengal. The plant's capacity is slated at 633.6 million Nm3per hour (Normal cubic metre), which will require 1.9 million tonnes of coal, the coal ministry said in a statement. The partnership of the two state-owned companies is a part of the National Coal Gasification Mission which facilitates utilization of chemical properties of coal.

CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV.

NCL) CMD B Sairam on Saturday said that the company despatched 94 per cent of its total coal to the power sector and contributed Rs 15,000 crore to the central as well as state exchequer in FY24 in the forms of royalty and GST. Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation. Speaking at the sidelines of Singrauli Industrial Summit 2024 organised by NCL at its headquarters, the CMD of the Coal India arm also outlined the company's contribution to the inclusive development of the Singrauli region. He also underscored the benefits of adopting an integrated approach based on shared values for the holistic development of Singrauli.

Adani Power has offered the highest bid of ₹27,000 crore for KSK Mahanadi Power's 1,800-megawatt plant that's undergoing insolvency proceedings, people with knowledge of the matter told ET. The Adani offer already ensures a 92% recovery for the lenders. Banks had received a total of 10 financial bids for the thermal power company by Thursday evening. Other bidders include Capri Global Holdings, Coal India, NTPC, Vedanta, JSW Energy, Naveen Jindal-owned Jindal Steel & Power, iLab India Special Fund, Rashmi Metaliks and Sherisha Technologies, said the people cited above. Adani Power's offer is a combination of ₹12,500 crore in upfront cash, ₹9,000 crore of accumulated cash in the company since three of its units are operational, and an estimated receivables of ₹5,500 crore, one of the persons cited above said.

20 Microns Ltd.(up 8.57%), Pokarna Ltd.(up 7.88%) and Ashapura Minechem Ltd.(up 1.02%) stood among the top gainers.

Read this | Coal India: A diamond in the rough? The change in accounting policy pertains to stripping activity or overburden removal, with related provisions being written back to the income statement. This reclassification has led to a significant revision in earnings estimates. “On the basis of our operational forecasts as well as incorporating the revised accounting policy for stripping cost, our Ebitda and EPS estimates increase by 15% and 14% respectively, for FY25," said analysts at Emkay Global Financial Services.

Coal India Ltd. with a target price of Rs 600. The current market price of Coal India Ltd. is Rs 533.95. Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 321817.67 Crore) operating in Mining sector.

Nifty crossed the 25,000 milestone for the first time while Sensex zoomed past the 82,000 level to yet another record high. At 9:23 am, the BSE Sensex was trading 345 points, or 0.42%, higher at 82,043. The Nifty50 was up 117 points, or 0.47%, trading at 25,068.

ITC, Tata Motors, Zomato, Adani Enterprises, Infosys among others will be in focus due to quarterly results and various news developments. ITC, Sun Pharma, Tata Motors, Adani Enterprises, Adani Ports, Zomato and Dabur

Maruti, M&M, Coal India, Adani Power, Tata Steel, Ambuja and Bank of Baroda. Apart from the above, companies like Aster DM Healthcare, Barbeque Nation, Deccan Healthcare, Dynamic Cables, IIFL Securities, Mankind Pharma, The Phoenix Mills, Thomas Cook, ZEE among others will also declare their first quarter results.