Coal India shares hit near-three-year high as Modi explores breakup
Shares of Coal India Ltd, hit their highest level in nearly three years on Thursday after Reuters reported that Narendra Modi, who will become prime minister on Monday, was exploring breaking up the company and opening up the sector.
By HT Correspondent | Reuters, New Delhi
UPDATED ON MAY 22, 2014 01:16 PM IST
Shares of Coal India Ltd, the world's biggest coal miner, hit their highest level in nearly three years on Thursday after Reuters reported that Narendra Modi, who will become prime minister on Monday, was exploring breaking up the company and opening up the sector.
The stock was among the top gainers on the Nifty, rising as much as 8.22% in early trade to Rs 401.40, the highest since August 2011.
Modi wants to fix India's inefficient coal sector quickly to improve electricity supply across the country. Coal generates more than half of the country's power and is the cheapest form of energy.
Sources said any reform will begin with Coal India, which accounts for 80% of India's total coal output but has failed to meet its output targets for years.
Red tape, strikes, protests against land acquisition and delays in obtaining environmental approvals have kept coal output far below demand, making India the world's No.3 importer even though it sits on the fifth-largest reserves.
Global airlines body says airlines faced crisis in January
Reuters, Paris
PUBLISHED ON MAR 02, 2021 11:18 PM IST
New variants of the coronavirus forced governments to tighten travel restrictions across the world, hurting the outlook for airlines.
Cess, surcharge shares doubled to 19.9% in FY 20-21: Report
PTI, New Delhi
PUBLISHED ON MAR 02, 2021 10:50 PM IST
Under the existing Finance Commission (FC) framework, the cesses and surcharges collected by the Centre are not part of the tax devolution.
BRICS bank grants over USD 1 billion Covid-19 assistance loan to China
PTI, Beijing
PUBLISHED ON MAR 02, 2021 10:31 PM IST
This is the second emergency loan for the same amount approved by the NDB to help China fight the pandemic.
Gold price drops to ₹44,760 per 10 gram, silver down too
By hindustantimes.com | Written by Meenakshi Ray, New Delhi
PUBLISHED ON MAR 02, 2021 09:46 PM IST
Gold prices have fallen nearly ₹11,000 since August last year when the yellow metal breached the all-time rate at ₹57,008 per 10 gram.
Exports dip marginally in February; trade deficit widens to USD 12.88 billion
PTI
PUBLISHED ON MAR 02, 2021 06:59 PM IST
Imports grew 6.98 per cent to USD 40.55 billion during the month, the data showed.
EPFO may declare interest rates on EPF deposits for 2020-21 on March 4
By hindustantimes.com | Edited by Mallika Soni
PUBLISHED ON MAR 02, 2021 06:24 PM IST
- In March 2020, EPFO had reduced the interest rate on provident fund deposits to a seven-year low of 8.5% for 2019-20. The interest rate was 8.65% in 2018-19 and 8.55% for 2017-18. The interest rate was 8.65% in 2016-17.
Spectrum auction ends with ₹77,815 cr bids; Jio top buyer with ₹57,122 cr
PTI
PUBLISHED ON MAR 02, 2021 06:14 PM IST
Telecom Secretary Anshu Prakash said 855.60 MHz of spectrum was bought for ₹77,814.80 crore in the two-day auction.
Need to ensure that startups are not afraid of failure, says Piyush Goyal
PTI
PUBLISHED ON MAR 02, 2021 06:01 PM IST
The minister also said the need of the hour is to engage more with rural India also as there is a lot of talent lying there.
Fuel demand projected to rise 9.8% in year to March 2022
Reuters
PUBLISHED ON MAR 02, 2021 05:54 PM IST
Higher expectation of fuel consumption, a proxy for oil demand, points to a sharp recovery in industrial activity in the economy hit hard by the pandemic.
Krishna Institute of Medical Sciences files ₹700-cr IPO papers
PTI, New Delhi
PUBLISHED ON MAR 02, 2021 05:38 PM IST
Krishna Institute of Medical Sciences (KIMS) is one of the largest corporate healthcare groups in Andhra Pradesh and Telangana in terms of the number of patients treated and treatments offered.
Plastic industry urges govt to streamline raw material supply
PTI, Mumbai
PUBLISHED ON MAR 02, 2021 05:22 PM IST
The plastics processing sector has sought immediate government intervention to ensure raw material supply by Indian petrochemical companies and free imports of raw material that are not produced in the country.
RBI restricting banks from raising stakes in insurance firms: Report
Posted by Kunal Gaurav | Reuters, Mumbai
PUBLISHED ON MAR 02, 2021 05:01 PM IST
The RBI wants banks to focus on their main areas of business instead of locking away capital in non-core sectors.
Delhi-based man arrested for GST fraud of ₹38.91 crore
By HT Correspondent | Edited by Smriti Sinha
PUBLISHED ON MAR 02, 2021 04:47 PM IST
The person had created a fake firm under his name and was linked to a multilayered network of 38 other fictitious entities to dupe the government by claiming fake ITC through bogus bills, said the finance ministry in a statement
Bharti Airtel buys airwaves worth $2.6 billion at spectrum auction
Bloomberg
PUBLISHED ON MAR 02, 2021 04:03 PM IST
The carrier, led by billionaire Sunil Mittal, acquired 355.45 megahertz airwaves across multiple spectrum bands for 186.99 billion rupees ($2.55 billion), according to a statement from the company Tuesday.
Sensex ends 447 points up, Nifty settles above 14,900
UPDATED ON MAR 02, 2021 04:04 PM IST
- The 30-share index swung nearly 633 points during the session, before ending at 50,296.89, showing a rise of 447.05 points or 0.90 per cent.