CENTRAL COALFIELDS
South Eastern Coalfields files DRHP with SEBI for IPO; Coal India to offload 66.8 crore shares
Coal India subsidiary South Eastern Coalfields has filed its draft papers with SEBI for an IPO comprising an offer for sale of up to 66.81 crore shares. One of India’s largest coal producers, SECL reported higher revenue and profit and plans to list on the BSE and NSE.
Coal India’s stockpile is shrinking fast as coal dispatches outpace production
Coal India has experienced a 49% cut in coal stocks over the last half-year. This notable decline comes amid a 7.6% surge in offtake, despite a 2.5% dip in production levels. The coal production reached 321 million tonnes, with an impressive dispatch of 384.20 million tonnes. Particularly, the inventory saw a steep 52% decline during the September quarter, reflecting diverse trends among its subsidiaries.
Blackouts hit Indian factories as coal crunch feeds into economy
Indian industries and households are grappling with power shortages due to reduced coal supplies and extreme weather conditions. The weak monsoon has limited hydropower generation while demand for electricity has surged. Many factories, including small steel mills, are facing lengthy outages, impacting production and increasing costs. Consumers in states like Uttar Pradesh are experiencing significant blackouts, prompting investments in backup systems.
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Miniratna PSU HLL Lifecare marks 15-year milepost with big new plan for nationwide push
HLL Lifecare is set to expand its pharmacy network to 600 locations nationwide within the next year. This will boost pharmacist employment from around 2,000 to roughly 4,500. .
HLL Lifecare to expand pharmacy network to 600 outlets, add 4,500 jobs
HLL Lifecare Ltd intends to broaden its pharmacy network to 600 outlets nationwide over the coming year, creating around 4,500 job opportunities in healthcare. With around 340 existing stores, HLL champions affordable healthcare solutions while ensuring vital services reach all citizens. Notably, this expansion will roll out just in time for World Pharmacists Day on September 25.
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Herd of 40 elephants near CCL mines triggers panic in Ramgarh; vigilance stepped up
A herd of around 40 elephants was spotted near Central Coalfields Limited (CCL) mines in Jharkhand's Ramgarh district, triggering panic among miners and villagers. Mine managers have stepped up vigilance to prevent human-animal conflict. CCL's Kuju area general manager RK Sinha said an alert has been issued for the Karma, Ara and Sarubera projects, while night shift workers have been asked to remain vigilant.
Coal supply rises as rains recede, stocks recover at critical plants
Coal India's average daily coal production, rose by 35% to around 1.83 million tonnes on September 6 against around 1.36 million tonnes during the first three rain-affected days of September. The average daily despatch to the power sector increased by 24% from around 1.37 million tonnes during the first three days of September to 1.7 million tonnes as on September 6.
India steps up coal supplies to power plants amid rising demand and falling stocks
In response to escalating energy demands, the government is augmenting coal supplies from both captive mines and Coal India subsidiaries. This initiative aims to alleviate the concerning depletion of coal stockpiles at several power plants. Coal companies are being prompted to enhance their loading efficiency, while ongoing meetings will streamline coal production and logistics to maintain an uninterrupted supply flow to the power sector.
Coal India arm Mahanadi Coalfields files IPO papers, plans OFS of up to 66 cr shares
Mahanadi Coalfields has filed its DRHP for an IPO comprising an OFS of up to 66.18 crore shares by promoter Coal India. The proposed listing will give investors direct exposure to one of India’s largest non-coking coal producers, backed by substantial reserves and established mining infrastructure.
Coal India output dips 5.7% in August, offtake rises 5.5%
Coal India's August production saw a 5.7 percent decrease compared to last year. However, the company's coal offtake rose by 5.5 percent during the same period. Cumulative output between April and August also declined by 4.5 percent. Supplies to the power sector grew, and non-power sector supplies increased. The company is preparing to ramp up production as the rainy season ends.
CIL approves 32 mining projects involving incremental investment of Rs 47,000 crore
While 24 of the 32 projects are expansion of the existing ones, the remaining are greenfield (new) units, Coal India Ltd (CIL) said in a statement.
Coal India Ltd posts 10.6% rise in coal output in July-September period
The company’s coal production grew at 31.6% and off-take at 31.7%, highest ever in any September, an official statement said.
Coal India surpasses capex target
Its investment was 4.2% more than in the same quarter last year, despite the lockdown. Subsidiaries South Eastern Coalfields, Northern Coalfields and Central Coalfields accounted for 81% of the capital expenditure for the quarter.
Coal India closes branches offices, shifts subsidiary sales offices from Kolkata to cut costs
Bharat Coking Coal, Central Coalfields, South Eastern Coalfields and Mahanadi Coalfields from Kolkata to their subsidiary headquarters was passed at a recent board meeting.
CIL strike causes 35% loss in production
Executives did not join the strike called by the workers to oppose liberalisation of coal mining.
Coal India cautions against fake employment notice for 88585 posts
Coal India does not have any subsidiary company with the name "South Central Coalfields Ltd (SCCL)" and also it is not participating in any such recruitment exercise, the notice mentioned.
Coal India misses production target by 15 mt
Large subsidiaries like Central Coalfields, Mahanadi Coalfields and Central Coalfields saw their production during the period under review fall by 9.1%, 17.7% and 2.3 % respectively.
Coal India set to end fiscal with Rs 6,000-crore bonanza
This is the first time Central Coalfields, South Eastern Coalfields, Western Coalfields, Mahanadi Coalfields and Northern Coalfields will be purchasing their own shares.
CIL board okays proposal to buy back 1.72 per cent shares for Rs 3,650 crore
The company hopes to hit the market by October, before which it has to take clearance from shareholders and market regulator Securities and Exchange Board of India.
Coal India asks subsidiary Central Coalfields Limited to clarify share valuation norm
The evaluation norm used by Central Coalfields is different from the evaluation norm used by other subsidiaries.
Five subsidiaries to add Rs 5,000 crore to Coal India’s kitty through buyback
Central Coalfields, is likely to announce buy back of Rs 1,000 crore soon. Coal India will use the total Rs 5,000 crore to buy back its shares from the government and the public.
CIL unit declares interim dividend of Rs 2,758 crore
The company said its another arm Central Coalfields has declared an interim dividend amounting to Rs 1,457 crore.
Coal India subsidiaries help it post double-digit sales growth at 9.2%
Central Coalfields, South Eastern Coalfields and Mahanadi Coalfields registered 13.3 per cent, 11.9 per cent and 12.6 per cent sales growth.
Central Coalfields gets green nod for Pichri open cast mine
Pichri OCP is a new mine envisaged to produce washery grade-IV coal to meet the demand of medium coking coal.
Central Coalfields pitches for transporting coal by rail
The nation could save Rs 12,000 crore annually, besides cutting down green house gas emission, if coal is transported by rail instead of trucks in command areas of Central Coalfields Limited, a top CCL official said.
Meeting on underground coal gasification by month-end
The identified two UCG blocks are Kaitha Block (Ramgarh Coalfield) of Central Coalfields Ltd and Thesgora "C" Block (Pench Kanhan Coalfield) of Western Coalfields Ltd.
Central Coalfields Limited to take up new projects
Buoyed by its continued high rate of production, Central Coalfields Limited (CCL) would take up four new projects this fiscal
CIL misses Q1 output target, says rains played spoilsport
Coal India today blamed early rains and inclement weather in the eastern region for playing spoilsport in achieving its 98.7 million tonnes (MT) target for the first quarter.
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