County Coal Financial News

Coal India Ltd and NLC India Ltd to go for pithead-based thermal projects with an aim to reduce transportation cost and improve availability of dry fuel, a top government official said. The plan is that all new thermal projects of Coal India Ltd (CIL) and NLC India Ltd should come up near the coal mines, Coal Secretary Amrit Lal Meena told PTI. This will reduce the dependence on transportation, which is mostly through rail and road, and make the coal accessible for usage in power generation, he said, while replying to a question on new projects of coal PSUs, the official said. The move will also reduce logistics cost and cost of power generation, he said, listing the benefits of a pithead-based unit.

Benchmark NSE Nifty closed 123.31 points down at 22023.35 amid selling in frontline bluechip counters.

Gujarat State Fertilizer & Chemicals Ltd.(up 5.92%), Sikko Industries Ltd.(up 4.95%), Nagarjuna Fertilizers and Chemicals Ltd.(up 4.60%), Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 3.79%), Gujarat Narmada Valley Fertilizers & Chemicals Ltd.(up 1.92%), Rashtriya Chemicals & Fertilizers Ltd.(up 1.30%) and Madras Fertilizers Ltd.(up 0.55%) stood among the top gainers.

KCP Sugar & Industries Corporation Ltd.(up 5.45%), KM Sugar Mills Ltd.(up 2.64%), Uttam Sugar Mills Ltd.(up 1.91%), Shree Renuka Sugars Ltd.(up 1.57%), Balrampur Chini Mills Ltd.(up 0.90%), EID Parry(India)Ltd.(up 0.74%), Triveni Engineering & Industries Ltd.(up 0.48%), Vishwaraj Sugar Industries Ltd.(up 0.32%), Dwarikesh Sugar Industries Ltd.(up 0.32%) and Ugar Sugar Works Ltd.(up 0.08%) stood among the top gainers.

Gillette India Ltd.(up 2.20%), Heritage Foods Ltd.(up 1.71%), Colgate-Palmolive(India)Ltd.(up 1.54%), Mrs. Bectors Food Specialities Ltd.(up 1.44%), Sheetal Cool Products Ltd.(up 1.22%), Varun Beverages Ltd.(up 1.17%), Tata Consumer Products Ltd.(up 1.16%), Vadilal Industries Ltd.(up 1.08%), Procter & Gamble Hygiene & Healthcare Ltd.(up 0.82%) and ADF Foods Ltd.(up 0.80%) stood among the top gainers.

stocks witnessed a build of fresh short positions. Lets first understand how this conclusion is reached that whether the stock has seen a buildup of fresh short position or not. To understand it we have to look at what “ short selling” means. When a trader is expecting the stock prices to fall, he may sell the stock without owning that and buy at a lower price, for example, stock XYZ is trading at 100, a trader sells the stocks at Rs 100 and buys it back at Rs 90. He made a profit of Rs 10. Selling the stocks without owing the underlying stock is called short selling.

Domestic benchmark index NSE Nifty fell 173.81 points to 21972.85, while the BSE Sensex traded 506.6 points down at 72590.68.

Power and Instrumentation(Gujarat)Ltd.(up 3.57%), Jyoti Structures Ltd.(up 1.88%), India Power Corporation Ltd.(up 1.55%), Voltamp Transformers Ltd.(up 0.86%), Adani Green Energy Ltd.(up 0.74%), Inox Wind Ltd.(up 0.61%), Indo Tech Transformers Ltd.(up 0.48%) and JSW Energy Ltd.(up 0.43%) were among the top gainers.

Coal India, Adani Ports & Special Economic Zone, Adani Enterprises, NTPC, Tata Steel, and ONGC saw losses of over 5%. Moreover, the market was also influenced by the uptick in US inflation to 3.2% in February, raising concerns about the possibility of a rate cut by the US Federal Reserve in the near term. This, however, boosted the dollar index, and even the US stock market surged.

Also Read: Bitcoin hits all-time high of $73,000 following release of US CPI data Shares of RailTel Corporation of India ended today's session with a drop of 20% at ₹308.25. However, the stock still holds a 183% gain in a year. Similarly, Ircon International witnessed substantial selling pressure, with its stock finishing today's session with a drop of 10.77% at ₹185.20 apiece and it is down 18% in a week.

BSE, merely 89 shares marked their 52-week high. Also read: Stock market today: Sensex, Nifty 50 fall over 1% each; why did Indian stock market fall today? On NSE, stocks such as Sindhu Trade, Marshall Machines, GRM Overseas, Cello World, and BGR Energy, among others, hit their lowest levels in the past 52 weeks.

The NSE Nifty index traded 86.5 points down at 22249.2, while BSE Sensex was down 142.56 points at 73525.4 as of 11:10AM(IST)on March 13.

The NSE Nifty index was trading 49.96 points down at 22285.75, while BSE Sensex was down 19.94 points at 73648.02 at the time of writing this report.

Benchmark NSE Nifty index rose 28.0 points to 22307.7 amid selling in frontline bluechip stocks.

Infibeam Avenues informed the exchanges today that it has entered into a payment processing partnership with Saudi Arabia’s Saudi Awwal BankThe company also said that it has secured a eMSP Payment technical service provider approval from SAMA (Saudi Payments), in its exchange filing.Infibeam Avenues said its international subsidiary Infibeam Avenues Saudi Arabia has received a PTSP Certification from the SAMA (Saudi Payments) to operate as a Payment Processor (PTSP - Payment Technical Service Provider) in the Kingdom of Saudi Arabia (KSA), in its exchange filing.Post-certification, the company’s flagship payment brand, CCAvenue, will establish itself as a payment gateway (PTSP) player for digital transactions in the Saudi Arabian market.The company’s CCAvenue payment gateway solution has already done data localisation and hosting within the Kingdom of Saudi Arabia (KSA) as well as secured PTSP processing approval from the authorities.Sensex Today Live : Barring a few, most of the sectoral indices were in the green. Among the losers were Metal (down 0.66%), Pharma (down 0.54%), Health (down 0.57%), and Oil & Gas (down 0.52%).Sensex Today Live : The broader market had finally shaken off two days on its losing streak, with the indices opening in the green.

coal sector is set to ramp up renewable energy capacity to over 9 GW by 2030, from the current 1.7 GW, the coal ministry said on Tuesday. The ministry is actively promoting the deployment of both rooftop solar and ground-mounted solar projects across mining facilities.

₹8,500 crore. Further, the roadmap to add over 9 GW of renewable energy capacity also comes at a time when Coal India and its subsidiaries have forayed into thermal power generation amid growing demand for power.

NLC India Limited on Sunday signed an MOU with the Government of Rajasthan for the formation of a Joint Venture to set up a 125 MW Lignite Based Power Plant and 1000 MW Solar Power Plant. The MoU between NLC India Limited and Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL) entails a staggering investment of more than Rs 7,000 crores, according to an official statement. Among the notable projects, the MoU outlines the establishment of a 125 MW Lignite Pit-head Thermal Power Plant in Bikaner district and a massive 1,000 MW Solar Power Plant, further reinforcing NLCIL's commitment to renewable energy initiatives.

NTPC Ltd, it's arm NTPC Green Energy, Coal India and NLC India on Sunday signed separate memoranda of understanding with Rajasthan Rajya Vidyut Utpadan Nigam Ltd for setting up thermal and renewable energy projects. The MoU between NTPC & RVUNL was signed to explore opportunities for adding supercritical units to the existing Chhabra thermal power plant. The companies aim to implement measures to enhance efficiency and reduce the generation cost of the plant's existing units.

Dividend Stocks: Shares of several companies, including IIFL Securities Ltd, SBI Life Insurance Company Ltd, among others will others will trade ex-dividend in the coming week, starting from Monday, March 11. Some other companies will also trade ex-bonus and ex-split in the coming week. The ex-dividend date is the day on which the equity share price adjusts to reflect the next dividend payout.

Coal India Ltd hit a record 703.91 million tonnes (MT) in this fiscal until March 7, surpassing the last fiscal's output of 703.20 MT, the Coal Ministry said on Friday. Highlighting that several key measures were implemented to enhance production, the ministry said Coal India maintains an ample stock of 72.70 MT as of 7th March 2024. "Coal India Limited (CIL) has achieved a record production of 703.91 million tonnes of coal up to 7th March 2024 during the current fiscal, surpassing last financial year's production of 703.20 MT by an impressive margin of 26 days," the ministry said in a release. Adoption of the Mine Developer and Operator model, mechanization and modernization of CIL mines, both Underground & Opencast, undertaking new projects, expanding existing projects, have bolstered coal production, it said.