COAL PRICE
India to get coking coal from Mongolia on trial basis in July
India is set to trial coking coal imports from Mongolia later this month, aiming to reduce its reliance on Australian supplies. Major steel producers like JSW Steel and SAIL will receive initial shipments, exploring alternative routes beyond Chinese ports. This strategic move addresses volatile supply issues and diversifies sources amid geopolitical tensions with China.
High-dividend stocks: Coal India, ITC, Infosys, 7 more counters fit the bill
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India's coal import rises 5 pc to 52 MT in April-May
India's coal imports increased by 5.3% to 52.29 million tonnes in April-May FY24, compared to the previous year. However, May imports dropped slightly to 26.19 MT from 26.57 MT last year. Despite potential import demand slowing due to monsoons and rising coking coal prices, domestic production remains robust.
DVC to invest Rs 20,000 cr in solar energy projects by 2030
The Kolkata-headquartered corporation now has only 14 MW installed solar capacity and is executing a 348 MW project in association with NTPC. A 250MW/hour capacity of battery storage is also under consideration, he said.
Add Coal India, target price Rs 495: ICICI Securities
Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 296488.86 Crore) operating in Mining sector.
Stocks in news: Patanjali Foods, IOL Chemicals, Carysil, Tata Steel, Coal India
Coal India's coal production rose 8% to 189.3 million tonnes in the first quarter. Patanjali Foods approved the acquisition of the home and personal care business. DCX Systems received a Rs 1,250 crore order.
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Coal India's Q1 production rises 8 pc to 189 MT
State-owned Coal India Ltd (CIL) reported an 8% increase in coal production to 189.3 million tonnes (MT) in the first quarter of the current fiscal year, surpassing the target. The company achieved 100% satisfaction, with all seven subsidiaries showing positive growth and five surpassing their targets. CIL's total supplies rose to 198.4 MT, with a 6% year-on-year growth, meeting the increasing demand for coal in the country, especially for power generation.
Sensex, Nifty hit fresh peaks once again; telecom stocks in focus
The market showcases strong performance in diverse segments, with small-cap, mid-cap, and micro-cap stocks leading the positive momentum. Sectors like metal, pharma, and PSU banks also demonstrate resilience, marking a significant uptick in trading values amid the current market scenario.
10 BSE 100 stocks turned multibaggers in one year but Zomato, Trent beat them on this parameter
According to Ace Equities data, Trent leads the pack with a 213% return in one year and a beta of 0.70. Zomato, the food delivery platform, and Bajaj Auto, the two-wheeler company, yielded 162% and 107% respectively, with one-year betas of 0.78 and 0.42.
Parent of India's Vedanta proposes to cut debt by $3 billion over next three years
Vedanta Resources, the UK-based parent company of Indian miner Vedanta Ltd, plans to cut its debt by $3 billion over the next three years. The company, which has been facing multiple rating downgrades due to liquidity issues and high default risk, will use the newfound liquidity from its $3.20 billion outstanding bonds to fund crucial capex projects.
India's coal import rises 13% to 26 MT in April
India's coal imports surged 13.2% to 26.10 million tonnes in April 2024, driven by early summer demand. Non-coking coal reached 17.40 MT and coking coal 4.97 MT. Amid calls for boosting domestic production, imports continue to rise, expected to meet power and industrial sector needs ahead of monsoon season restocking
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Centre has addressed coal shortage over last decade: Coal and Mines Minister G Kishan Reddy
Union Coal and Mines Minister G Kishan Reddy highlighted the significant increase in coal production over the past decade to meet power demands, addressing previous coal shortages and power cuts. Reddy assured that the BJP's election manifesto goals will be achieved in the next five years, focusing on securing mineral resources, developing mining technologies, and promoting sustainable practices.
Centre may seek nod for coal exchange
The coal ministry is expected to seek approval for India's first coal trading exchange as part of its 100-day action plan. The exchange aims to facilitate transparent coal trading for both captive and commercial auction holders, potentially leading to better prices for consumers. Surplus stock from Coal India Ltd may also be traded on the exchange. The ministry's plan includes upgrading coal transportation and loading systems, adding 600 MW of thermal power capacity by NLC India Ltd, and bidding out around 10 coal gasification projects.
Buy Coal India, target price Rs 545: Anand Rathi
Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 293561.56 Crore) operating in Mining sector.
Coal India's contribution to govt exchequer drops 2.2 per cent to Rs 9,560 crore in April-May
Coal India Ltd's contribution to the government's exchequer decreased by 2.2% to Rs 9,560.28 crore in April-May of the current fiscal year, down from Rs 9,777.64 crore in the previous year. Total levies paid to the government in May rose to Rs 4,763.20 crore. State governments receive revenue from coal production through royalties, GST, and other levies, with Jharkhand and Odisha receiving the highest amounts.
Buy Coal India, target price Rs 550: Axis Securities
Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 315747.39 Crore) operating in Mining sector.
Despite record peak demand, power exchange prices remain lower than last year's peak period
The average daily price in the day-ahead market on the power exchange remained lower in May compared to peak periods last year, despite record-high peak demand. This indicates sufficient energy supply from various sources. The average price during May was ₹5.30 per unit, lower than last year's peak period of mid-August to mid-September, which was ₹7.75 per unit. Increased hydro and wind power generation have contributed to this improvement in supply. Even during days of record peak demand, prices remained relatively low on average.
Tata Steel credit metrics to improve in FY25: CreditSights
CreditSights predicts Tata Steel's credit metrics to improve this fiscal year due to increased domestic steel demand, lower coking coal prices, and a strong EBITDA growth in FY25. It expected net leverage to enhance. Despite a significant drop in consolidated net profit for the March quarter, CreditSights believes Tata Steel's annual results were better than expected, with revenues and EBITDA declining due to losses in Europe and higher expenses.
Adani Enterprises shares finally get rid of Hindenburg's ugly scar, surge 3x in 16 months
Shares of Gautam Adani's flagship entity, Adani Enterprises, have recovered from losses post the Hindenburg report, with a 23% jump in 2 weeks. The stock is close to its all-time peak and is set to enter the Sensex index.
Financial Times report against Adani Group is just for noise: Cantor Fitzgerald
Cantor Fitzgerald dismisses recent Financial Times report on Adani Group as market noise, indicating investors' confidence remains intact. Adani Enterprises' shares surged 8.2% following the allegations, marking a tenth consecutive day of market capitalization gains. Adani Group refuted the accusations, citing contractual obligations and rigorous testing processes, while Cantor highlighted discrepancies in the FT report's sources and noted India's growth trajectory as favorable for Adani Enterprises despite controversies.
In first 50 days of FY25, demand has increased by 13-14%: SN Goel, IEX
SN Goel discusses the positive factors for FY25, including high demand, improved coal supply, and lower prices. The market is expected to see growth driven by increased liquidity and policy initiatives. Goel further says , this year market share will be around 85% plus. And in the DAM and RTM market, they have about 99% plus market share.
India's coal import rises 8% to 268 MT in FY24
India's coal import surged by 7.7% to 268.24 MT in FY24, driven by lower seaborne prices and anticipated rise in power demand during summer. March FY24 saw an increase to 23.96 MT. Non-coking coal import was 15.33 MT, while coking coal import stood at 5.34 MT. Domestic coal production in FY24 grew by 11.65% to 997.25 MT.
Stock Radar: Coal India breaks above inverse Head & Shoulder pattern after rallying nearly 100% in a year; time to buy?
The stock price rose from Rs 237 as on May 5, 2023, to Rs 460 as on May 6, 2024, which translates into an upside of over 94% in a year. It hit a record high of Rs 487 on February 16, 2024, but failed to hold the momentum and witnessed time-wise and price-wise consolidation.
Buy Coal India, target price Rs 530: Motilal Oswal
Coal India Ltd. key Products/Revenue Segments include Other Operating Revenue and Coal for the year ending 31-Mar-2023.
Coal India production rises 7% in April
Coal India Ltd (CIL) reported a 7.3% increase in coal production to 61.8 million tonnes (MT) in April compared to 57.6 MT in the same period last year. CIL, which contributes over 80% of domestic coal production, also saw a 3.2% rise in coal offtake to 64.3 MT. Despite producing 773.6 MT in FY24, CIL fell short of its target of 780 MT.
India's coal import rises 13 pc in February
India's coal import increased by 13% to 21.64 million tonnes in February, driven by non-coking coal. The country's coal production reached 880.72 million tonnes in the April-February period of FY24.
Govt to sell 7% in NLC India via offer-for-sale, aims to raise ₹2,058 cr
The government plans to offload a 7% stake in NLC India through an offer-for-sale (OFS), including a green shoe option of 2%. The OFS, opening for non-retail investors on Thursday and for retail investors on March 11, aims to raise around ₹2,058 crore. The floor price is set at ₹212 per equity share, at a discount to the closing price of ₹226.7 apiece on Wednesday.
Notified price for coal gasification soon: Coal Ministry
The Ministry of Coal is planning to offer coal at a notified price for coal gasification projects to boost the sector. This move aims to ensure that the industry does not face a shortage of coal. Coal gasification is a process that converts coal into synthesis gas, which is cleaner than coal combustion. The Union Cabinet has approved a coal and lignite gasification programme with viability gap funding worth Rs 8,500 crore for both public and private sectors.
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