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Business Standard
3 days ago
- Business
- Business Standard
Coal India, Hindustan Zinc and Oil India win auction of mineral blocks
As part of its fifth-tranche auction, India, for the first time, on Tuesday auctioned Potash and Halite mines, with Coal India Ltd (CIL), Hindustan Zinc Ltd (HZL), and Oil India Ltd (OIL) bagging critical and strategic mineral blocks, according to an official statement. While Hindustan Zinc and Oil India won the Potash and Halite blocks, Coal India bagged the Graphite and Vanadium mineral block. The fifth tranche was launched on January 28 and has concluded with an auction of 10 out of 15 blocks put up for bidding. To date, a total of 34 blocks have been successfully auctioned in five tranches out of 55 critical mineral blocks which were put up for auction. Regular auction of critical mineral blocks is an important element in the strategy adopted by the Ministry of Mines towards building self-sufficiency in critical minerals in the country. The Ministry of Mines is also focusing on the exploration of critical minerals and has launched the National Critical Mineral Mission for the development of critical mineral ecosystems in the country.
Time of India
3 days ago
- Business
- Time of India
SC upholds tribunal order in Adani case, nixes discoms' plea
Jaipur: The Supreme Court on Friday dismissed an appeal filed by Rajasthan's power distribution companies against an order of the Appellate Tribunal for Electricity (APTEL) that ruled in favour of Adani Power Rajasthan Ltd (APRL) for levying a charge of Rs 50 per tonne of coal. Tired of too many ads? go ad free now The case is related to a Dec 2017 notification issued by Coal India Ltd, imposing a charge of Rs 50 per tonne as evacuation facility charges (EFC). Adani Power, which signed a PPA with the state's discoms in 2010 for the supply of 1200 MW of power, claimed that the levy constituted a "change in law" under Article 10 of the PPA. A bench comprising Justices M M Sundresh and Rajesh Bindal held that there was no merit in the plea of Jaipur Vidyut Vitran Nigam Ltd (JVVNL) and Rajasthan discoms. It upheld the APTEL's finding that a levy introduced by Coal India Ltd constituted a "change in law" entitling Adani to compensation under its Power Purchase Agreement (PPA). After the CIL notification, Adani Power notified the discoms of the change in law event, seeking compensation. When state discoms failed to respond, Adani approached the Rajasthan Electricity Regulatory Commission (RERC), which partially allowed its claims. Both parties subsequently approached APTEL, which in April 2024 ruled in favour of Adani Power. In the order, Justice Sundresh said the statutory levy by a govt entity like CIL qualified as a change in law, triggering the restitution principle enshrined in the PPA. The verdict said that compensation must be provided to restore the power generator to the same economic position it would have occupied but for the change in law. "We find no merit in this appeal. The appeal stands dismissed accordingly," it held.
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Business Standard
4 days ago
- Business
- Business Standard
BEML shares zoom 11% in trade after posting healthy Q4 results; Details
BEML share price zoomed 10.8 per cent in trade on Monday, May 26, 2025, logging an intraday high at ₹4,117.70 per share on BSE. The stock extended rally for the second consecutive session after the company released its Q4 results. In two days, the scrip gained nearly 12 per cent. At 12:27 PM, BEML shares were up 10.57 per cent at ₹4,108.55 per share on the BSE. In comparison, the BSE Sensex was up 0.52 per cent at 82,147.91. The market capitalisation of the company stood at ₹17,109.85 crore. The 52-week high of the stock was at ₹5,489.15 per share and the 52-week low of the stock was at ₹2,346.35 per share. BEML Q4 results 2025 The company released its fourth quarter (Q4Fy25) numbers on Friday after market hours. The company's consolidated net profit increased 12 per cent year-on-year (Y-o-Y) to ₹287.55 crore in Q4FY25, from ₹256.8 crore a year ago. The company's revenue rose 9 per cent Y-o-Y to ₹1,652.5 crore, from ₹1,513.6 crore a year ago. Its current order book as of March 31, 2025, stood at ₹1,035 crore and ₹1,564 crore worth of orders were executed during Q4. The company's total inventory for the quarter under review stood at ₹2,379.36 crore as compared to ₹ 2,255.9 crore a year ago. In an exchange filing, BEML disclosed that it has advanced ₹73.76 crore to the MAMC consortium—formed with Coal India Ltd (CIL) and Damodar Valley Corporation (DVC)—for acquiring specified assets of Mining & Allied Machinery Corporation Ltd (MAMC), which is under liquidation. BEML holds a 48 per cent stake in the consortium. About BEML BEML Limited is a multi-technology 'Schedule A' company under the Ministry of Defence, which plays a pivotal role in serving India's core sectors like Defence, Rail, Power, Mining, and Construction. BEML operates in three verticals namely Defence & Aerospace, Mining & Construction, and Rail & Metro and has state-of-the-art manufacturing facilities located at Bangalore, Kolar Gold Fields (KGF), Mysore, Palakkad. BEML has a strong R&D infrastructure.
Economic Times
21-05-2025
- Business
- Economic Times
Coal India shares in focus after two subsidiaries to file for IPO
Shares of Coal India Ltd (CIL) will likely be in focus on Wednesday, after the company announced progress in the listing process of two of its subsidiaries — Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI). ADVERTISEMENT According to an previous ET report, the draft red herring prospectus (DRHP) for both subsidiaries will be filed with SEBI soon, with the process of listing already underway. The company has also appointed a Book Running Lead Manager (BRLM) for the proposed IPOs. As reported earlier, the timing of the listings will be contingent on prevailing market conditions. The coal ministry had earlier confirmed the listing plan, reinforcing the company's strategy to unlock value from its India currently has seven coal-producing subsidiaries and one technical and consultancy arm and is responsible for over 80% of India's domestic coal the listing process, the company is working on critical mineral projects in India and overseas, including regions such as South America, Australia, and Africa, as per the report. ADVERTISEMENT CIL is also advancing on three coal gasification projects and pithead power plants. It is executing a 1,600 MW power project in Odisha, with land acquisition underway and an estimated project cost of Rs 16,000 crore. Another power project is being jointly developed with DVC under a 50:50 joint FY2025-26, the coal major has set a capital expenditure target of Rs 17,000 crore, highlighting its continued investment in infrastructure and energy development initiatives. ADVERTISEMENT Also read: Eternal shares could see $1.3 billion FII outflow, MSCI exclusion. Jefferies explains why Coal India shares closed 1.32% higher at Rs 408.20 on the BSE on Tuesday.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
19-05-2025
- Business
- Time of India
Draft papers for two CIL arms' IPO to be filed soon: Official
The process of listing of two subsidiaries of Coal India Ltd - BCCL and CMPDI - has begun and draft papers would be filed soon with Sebi, the company on Monday said. Speaking to reporters on the sidelines of CII Mining and Construction Equipment Summit, Coal India Ltd (CIL) Director Business Development Debasish Nanda said, "We are going to file DRHP soon. We are working on that." DRHP is a preliminary document that a company files with markets regulator Sebi for a public offer. Nanda further said that Book Running Lead Manager (BRLM) for the IPO has just been appointed. The coal ministry had earlier said the listing of both firms - Bharat Coking Coal Ltd (BCCL) and Central Mine Planning and Design Institute (CMPDI) - will take place, but the timing will depend on market conditions. Coal India has seven coal-producing subsidiaries and one technical and consultancy company. The company accounts for over 80 per cent of the domestic coal production. The company, Nanda said, is working on critical minerals both in India and abroad and added that "with regard to critical mineral projects overseas, we are looking at South America, Australia and Africa." He however did not divulge name of the companies. CIL, he said, is working on three coal gasification projects, which are in different stages , and also on pithead power plants. The company is working on a 1,600 MW project in Odisha for which the land acquisition is in process. "We are hoping that ₹16,000 crore would be the project cost (of the plant)." The company is also working on a similar power project with DVC. CIL has just entered into a pact with DVC and "going forward we have to sign JV. It is a 50:50 JV." The capex target of the coal behemoth for the ongoing financial year is ₹17,000 crore, he added. CIL reported 12 per cent year-on-year rise in consolidated net profit at ₹9,604.02 crore for the quarter ended March 2025 on the back of higher income. Total income during the January-March period rose to ₹41,761.76 crore from ₹40,457.59 crore a year ago. Total expenses increased to ₹29,057.30 crore from ₹28,950,41 crore earlier. Coal production by CIL was almost flat at 62.1 million tonne (MT) in April as compared to the year-ago period. In 2024-25, CIL produced 781.1 MT of coal, nearly seven per cent less than the company's target for the financial year. CIL is targeting a production of 875 MT and offtake of 900 MT in 2025-26 fiscal year .
