Better vision and leadership can help state-owned firms to perform on par with top private players like Infosys, Wipro and TCS as has happened with Coal India Ltd which registered 12 per cent spurt in output, Coal and Power Minister Piyush Goyal has said.
Dependence on coal imports will reduce to up to eight per cent only if Coal India (CIL) meets the production of 1,000 million tonnes (mt) by 2020 and if auctioned coal mines are able to achieve their peak capacity in a timely manner, says an ICRA survey.
Shares of Coal India have moved higher by 2% at Rs 429, also their record high on the National Stock Exchange (NSE). In the past two trading sessions, the stock was up 5% compared to a 1% rise in the CNX Nifty.
Coal India will hold pre-bid consultations with all interested bidders prior to issuance of a global tender for setting up a monitoring system for projects of more than Rs 150 crore, as the PSU eyes production of 1 billion tonne by 2019-20."With a
Even though Coal India(CIL) has been allowed to revert to the old system of removing the cap on e-auction volumes with effect from April 2015, in the absence of a specific guideline from the ministry, the state-owned miner is in a fix over determining the
The government's plan to have fresh auction of coal linkages for non-regulated sectors is not good news for end-user industries such as cement. Companies that depend on linkages from Coal India could see their costs go up.
Shares of Coal India have rallied more than 4.5% to Rs 405 on the Bombay Stock Exchange (BSE) after production of the company in May rose by about 13% as against the corresponding period previous year.
Hit by a rise in employee cost and contractual expenses, state-owned Coal India Ltd (CIL) reported a 4.4 per cent drop in consolidated net profit to Rs 4,239 crore for the quarter ended March, compared with Rs 4,434 crore a year before.
With record-breaking capacity addition of 22,566 Mw and power deficit at a low of 3.6 per cent, Piyush Goyal, minister of state for coal, power and renewable energy, said a stage has been set by 'Team India' for energy security for the next 50 years.
SBI Caps, in a report, which would be the basis for a policy paper on mechanism for granting coal linkages to the unregulated sector, has recommended a telecom spectrum-like auctioning of linkages for a tenure of 10 years, unlike fuel supply agreements