- After sluggish demand in April and May, June brought some good news for Coal India Ltd, as power plants started stocking fuel once again increasing coal off-take by 7-8%. According to sources, off-take for April-June period grew by 3% compared to the same period last year.
- The company recently announced signing two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh. Coal India and Solar Energy Corporation of India (SECI) signed two agreements on 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) and South Eastern Coalfields (SECL) at an estimated cost of Rs.650 crore. NCL and SECL are subsidiaries of Coal India.
- There was a block deal of 500000 shares in Coal India at Rs.311.00 per share, valued at Rs.15.55 crore on BSE today.
- Citigroup maintains a buy rating on Coal India with a 12-month target price of Rs.380. Round I of linkage auction concluded recently, and Round II to commence soon. Round I for sponge iron saw muted response while Round II for cement is likely to commence in a week.
- Coal India's consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.1% fall in net sales to Rs 20759.45 crore. Coal India is an organized state-owned coal mining corporate. The Government of India holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).
Discrimination faced by Mumbaikars...
If the housing societies in Mumbai (Bombay) are only meant for families (married couples), then the government of Maharashtra should make marriage compulsory in the state/city.
Or else the government should tell its citizens where will Unmarried, Divorcees, Bachelors, Spinsters live in the city of skyscrapers or is Bombay only for those who have families.
This is one of the greatest mental blocks of Mumbaikars, who otherwise want to bask in the FALSE HALO of Cosmopolitanism.
This disease (of not giving apartments to Bachelors, Muslims, etc on rent) is specially prevalent in housing societies where the Gujaratis, Marathis and North Indians (to some extent) abound; while the rest of the population is more or less okay with the concept.
The government of Maharashtra should take this matter seriously and devise laws to eradicate this malice ASAP, so that BOMBAY (and its suburbs) becomes free of discrimination based on Marital Status, Religion, etc. Or else the Honourable Supreme Court of India should step in, and give directions to the state or central governments -- so that the fundamental rights of its citizens enshrined in the constitution of India is not violated.
Friday, July 01, 2016
Buy Coal India Ltd at Rs.311