In an interview to CNBC-TV18, Susheel Kumar, Coal Secretary, Government of India spoke at length about cabinet opening up coal mining to the private sector for commercial mining.
The Modi government has taken a giant stride towards ending Coal India’s monopoly in commercial coal mining. In an interview to CNBC-TV18, Gopal Singh, CMD of Coal India discussed what the implications can be for both Coal India and generally for the availability and price of coal in the country.
Piyush Goyal, Railway Minister addressed a press conference on key decisions taken by the cabinet.
Coal India is in focus on the back of non-coking coal price being hiked. The price revision will earn the company an additional revenue of Rs 1,956 crore for the remaining part of FY18. In an interview with CNBC-TV18, Gopal Singh, CMD of the company discussed this.
JSPL will raise Rs 1,000 crore via qualified institutional placement (QIP) in February, that is the word coming from Chairman Naveen Jindal. Speaking to CNBC-TV18's Anshu Sharma Jindal adds the company will also raise equity for Oman operations.
Coal India has reported their highest ever monthly dispatches in December. In an interview with CNBC-TV18, Gopal Singh, CMD of the company discussed what the outlook for the remaining FY18 is.
The company sold around 113 million tonne (mt) coal under e-auctions in FY17. We are targeting to dispatch more than 600 mt in FY18, Gopal Singh, CMD of Coal India said.
Seven plants will be brought on the stream as soon as Shakti takes effect. Shakti auction has happened, coal mines have been allotted, now some signature was pending with the Coal India Ltd. If they have signed then that will take seven more of (the projects), RK Singh, MoS, Power & Renewable Energy said.
Coal India is fully geared up to achieve the FY18 production target of 600 million tonnes, according to Coal India CMD Gopal Singh.
Premier Explosives is buzzing in trade after bagging an order from Coal India for Rs 145 crore. In an interview to CNBC-TV18, AN Gupta, Chairman & Managing Director of the company spoke at length about the order and his outlook going ahead.
Coal India is the stock on our radar as the company signed a wage agreement with workers' unions for a period of five years. This agreement was higher than expected and brokerages have turned wary of the stock. In an interview to CNBC-TV18, Gopal Singh, Chairman of Coal India spoke about the latest happenings in his company and sector.
India's coal plants are running at 3-year high capacity as hydro and nuclear output falls. I an interview to CNBC-TV18, Gopal Singh, CMD of Coal India spoke at length about the same.
Speaking to CNBC-TV18 Susheel Kumar, Coal Secretary, said the offtake while being flat in the first three quarters of this fiscal year, November and December were good.
The government‘s targets for completion of road projects have come under a flak from road sector experts with Feedback Infrastructure Chairman Vinayak Chatterjee and MEP Infrastructure Managing Director Jayant Mhaiskar terming the targets as overambitious.
Nalco has cash reserve of Rs 3,000-3,500 crore, which will be used for domestic capacity expansion, said TK Chand, CMD of Nalco.
Speaking to CNBC-TV18, AN Gupta, Chairman and MD of the company said that capital expenditure on the new unit is expected to be around Rs 100 crore and it could be financed from internal accruals or through raising capital from the market.
Revenues from defence orders are likely to double ever year. By 2020, defence orders could contribute nearly Rs 500-600 crore to the company‘s revenues, says Nilesh Panpaliya, CFO of Solar Industries.
Eight out of the 16 mines will be allocated to the host states (where the mine is located) and the balance will be for non-host states, Coal Secretary Anil Swarup said.
TV Sandeep Reddy, MD, Gayatri Projects said Longwall technology would aid revenue growth substantially for the company from underground projects.
DP Deshpande, Managing Director of Tata Sponge, said that coal linkages secures the company for the next five years at 24,000 tonnes per year.
The 6.3 percent price hike effected by Coal India will not have an impacted on off-take, Coal Secretary Anil Swarup said, adding that demand for coal continues to remain high even a bottleneck remains in the form of distressed power distribution companies.
In an interview with CNBC-TV18, he said that there is no big 'uptick' in steel demand and expects iron ore prices to go up by Rs 500 per tonne, which will be an added burden on the industry.
Contrary to news reports, Coal India has not stopped production at any mine even though production has been cut back in the wake of low offtake, Coal Secretary Anil Swarup today confirmed to CNBC-TV18.
Partha S Bhattacharyya, Former Chairman, Coal India believes that giving away a highly skilled activity like mining to incompetent agencies might not serve any real purpose.
If first quarter's production is anything to go by, then the coal behemoth can very well surpass the FY16 production target.