PRICE AUCTIONS
AstaGuru's 'International Iconic' auction to feature Modigliani, Picasso, and more
AstaGuru's 'International Iconic' auction on July 19-20 features Modigliani's Tete De Cariatide, Kusama's Hi Konnichiwa, and Botero's 2023 paper series, encompassing humour, sentiment, and pleasures of love. Also included are works by Chagall, Dali, Magritte, Picasso, Hirst, Koons, Wei, and Jenkell. Larissa Guimaraes highlights the diversity. Previous auctions totaled Rs 108 crore. Modigliani's bronze from 1906 is a focal point.
Coal India to tweak e-auction norms to ease process
Coal India Ltd (CIL) will revamp its electronic window system, allocation methodology, capping auction hours, and adjusting transport premiums. The July 11 concept note proposed changes, including allowing road transport. Subsidiaries, except Northern Coalfields, must up e-auction offers to 40% in Q2 and Q3 FY25. Reserve prices are premium; CIL reduced earnest money deposits and increased quantities.
Coal India to ease e-auction norms; plans to tweak auction, allocation methodology
Coal India Limited (CIL) has lowered earnest money deposit and increased dry fuel quantity in e-auctions to encourage increased participation. The company has asked all its arms, except Northern Coalfields Ltd, to increase their offer quantity under e-auction to 40% of their total production for the second and third quarters of this financial year.
Sebi to auction HBN Dairies properties, fixes reserve price at Rs 67.70 crore
Sebi will auction HBN Dairies' assets valued at Rs 67.70 crore next month to recover funds from illicit schemes. Supreme Court authorised the sale following directors' failure to refund investors. Properties include mall, hotel, and plots across multiple states. Quikr Realty and C1 India to assist in online auction. Bidders advised to research property details before bidding. Auction to take place on August 13. HBN Dairies raised Rs 1,136 crore through illegal investment schemes.
From 0001 to 0007: How much you need to pay for these VIP car number plates
Post-pandemic, Delhi's obsession with fancy numbers, driven by numerology and superstitions, saw the 0001 plate sell for Rs 23.4 lakh. The 0009 and 0007 plates also fetched high bids. Managed by the Delhi transport department, monthly e-auctions see varying prices.
Napoleon's pistols sold for €1.69 million at Fontainebleau auction
Two pistols that Napoleon Bonaparte intended to use for suicide were sold for €1.69 million at an auction in Fontainebleau. Classified as national treasures by the French government, the pistols' export is banned. The sale price exceeded estimates, with the buyer remaining anonymous. This event highlights the enduring fascination with Napoleon memorabilia among collectors.
BSNL to monetize prime land parcels in Mangalore; eyes Rs 39 crores reserve price
Bharat Sanchar Nigam Limited (BSNL) has announced the monetization of its land parcels in Mangalore in an effort to bolster its financial standing. The two-acre land parcel adjacent to Kadri Park at Store Yard, near Kadri Hills on Park Road, is set for e-auction. The reserve price is set at Rs 39 Crores with an Earnest Money Deposit (EMD) of Rs 1.95 Crores.
Jio acquires additional spectrum in 1800 MHz band for Rs 973 cr in two circles
Reliance Industries has secured additional spectrum in the 1800 MHz band for Bihar and West Bengal in a recent spectrum auction. The acquisition aims to meet geography-specific demand and ensure a high-quality customer experience. The total cost of the spectrum is Rs 973.63 crore. The acquisition expands Jio's spectrum footprint to 26,801 MHz and enables the company to deploy the largest amount of spectrum across India on bandwidth-efficient technologies like 4G and 5G.
5G auction: All you need to know about Rs 96,000 crore spectrum battle
5G auction: India is gearing up for its latest 5G airwaves auction starting Tuesday, valued at over Rs 96,000 crore. Telecom giants like Reliance Jio, Bharti Airtel, and Vodafone Idea will compete for crucial radio frequencies essential for 5G services. The previous auction in August 2022 set a record with the government earning Rs 1.5 lakh crore.
Special call auctions to aid holding companies price discovery, narrow discounts
Sebi introduces special call auctions for price discovery of holding companies, narrowing the market-book value gap. Stocks like Kalyani Investment trade at 60-85% discount to book value.
Combined fall in tea production in north India till June-end seen at 60 Mkg less than in same period last year
Sandeep Singhania, President, Tea Association of India stated that the Production figure of North Indian Tea Industry reflect a precarious state of affairs in the industry, consequent to the constant onslaught of insufficient rainfall and excessive heat, hampering production of the crop to a great extent during the current cropping season up to the month of May 2024.
Airtel prepays Rs 7,904 crore to clear 2012, 2015 spectrum dues
Bharti Airtel has prepaid Rs 7,904 crore to the telecom department, clearing the remaining part of the payment relating to spectrum bought in 2012 and 2015 auctions. This move will lead to interest cost savings and help Airtel save on interest costs annually and boost cash flows as its nation-wide 5G rollout nears completion.
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.
Jyotiraditya Scindia takes charge as Minister of Communications
Union Minister of Communications Jyotiraditya Scindia has emphasized the importance of the telecom division and India post division on both a global and local level. Scindia, who has previously served as civil aviation minister in the Modi cabinet, pledged to deliver according to the Prime Minister's aspirations and the 140 crore people of the country. He also highlighted the challenges of overseeing India's 5G spectrum auction, retaining India's three-private player telecom market structure, and ensuring the survival of Vodafone Idea, the government's largest stakeholder.
RBI, govt accept no bids at first sovereign green bond auction of FY25
With the Centre sitting on a considerable cash surplus at the moment, it had likely opted to cancel the green bond auction than settle for a lack of a premium, or “greenium” at the auction. The government had planned to raise Rs 6,000 crore through 10-year green bonds at Friday’s auction.
More valuable than gold: Feather of this New Zealand bird sold at record price
A feather from an extinct New Zealand bird has been sold by an auction house for a whopping amount, smashing all estimates and setting a record, according to recent reports.
Go First's creditors to auction pledged land parcel in Thane
Creditors are set to auction a prime 94-acre land parcel in Thane near Mumbai, previously collateral for loans taken by Go First Airlines. The auction process involves major creditors and potential bidders amidst evolving legal challenges and financial considerations.
Lithium miners shake up trading to tackle wild price swings
Rising demand from EVs and batteries has changed the perception of lithium from a niche metal into a closely-tracked commodity which attracts investment.
Making greatness priceless with price
The auction of Eric Clapton's 1974 000-28 Martin acoustic guitar, starting at $500,000, highlights the value of possessions of the famous and gifted, acknowledging their contributions. It's less about diminishing the brilliance of artists, scientists, writers, musicians, and innovators by valuing their personal belongings solely based on price tags, but rather about recognizing their worth in the most objective way feasible.
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