The week that was: Market survives corporate, govt storm

It was a bad week for both, corporates and the government, but the Indian equity benchmark indices were relatively flat throughout the storm. It was the draft Mining Bill on Friday that caused us to end the week on sad note.

October 03, 2011 / 12:20 IST

26 Aug, 2025 12:21

Volume

Todays L/H

The draft Mining Bill, cleared by the Union Cabinet on Friday, directs coal companies to share 26% of its post-tax profits with those affected. Seen as an initiative to benefit tribals, this Bill is expected to be introduced in the winter session of the Parliament. Some experts believe that this Bill will hurt Coal India the most.

Adding to its woes is the country wide strike called by Coal India employees to protest against poor financial benefits. Chairman NC Jha has currently announced Rs 17,000 as bonus for each employee against the workers' demand of Rs 25,000.

The Tatas also suffered a setback this week with the Calcutta High Court ruling the Singur Land Rehabilitation and Development Act as

first published: Oct 1, 2011 01:31 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Subscribe to Tech Newsletters

Al Edge Newsletter On Saturdays

Find the best of Al News in one place, specially curated for you every weekend.
MC Tech 3 Newsletter Daily-Weekdays

Stay on top of the latest tech trends and biggest startup news.

The week that was: Market survives corporate, govt storm

It was a bad week for both, corporates and the government, but the Indian equity benchmark indices were relatively flat throughout the storm. It was the draft Mining Bill on Friday that caused us to end the week on sad note.

Subscribe to Tech Newsletters

Trending news