India’s NALCO secures long-term mining lease for Utkal-E coal block 19 Apr 2021 (Last Updated April 19th, 2021 15:06)
India-based National Aluminium Company Limited (NALCO) has secured a 30-year mining lease for the Utkal-E coal block in the state of Orissa.
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India-based National Aluminium Company Limited (NALCO) has secured a 30-year mining lease for the Utkal-E coal block in the state of Orissa.
Granted by the Department of Steel & Mines, Government of Odisha, the lease for the block covers an area of 523.73ha in villages, including Nandichhod, Gopinathpur Jungle, Kundajhari Jungle, Kosala and Korada under Chendipada Tahasil of Angul District.
With an estimated total mineable reserve of approximately 70 million tonnes, the mine will have an initial production capacity of two million tonnes per year (Mtpa).
5 April 2021 (Last Updated April 5th, 2021 09:21)
Adani Enterprises (AEL) has bagged a new coal mining agreement (CMA) from Maharashtra State Power Generation Company (MAHAGENCO) for the Gare Palma Sector II coal mine in India.
The Gare Palma Sector II coal mine was allocated to MAHAGENCO in 2015. Credit: Анатолий Стафичук from Pixabay.
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Adani Enterprises (AEL) has bagged a new coal mining agreement (CMA) from Maharashtra State Power Generation Company (MAHAGENCO) for the Gare Palma Sector II coal mine in India.
As per the agreement, AEL and its wholly-owned subsidiary company Gare Palma II Collieries (GPIICPL) will develop and operate the Gare Palma Sector II coal mine.
Key benchmark indices are trading lower in early trade on selling pressure in index pivotals as trading resumed after long weekend. At 9:25 IST, the barometer index, the S&P BSE Sensex, was down 390.27 points or 0.78% at 49,639.56. The Nifty 50 index was down 99.40 points or 0.67% at 14,767.95.
The S&P BSE Mid-Cap index was down 0.47%. The S&P BSE Small-Cap index was down 0.53%.
The market breadth, indicating the overall health of the market, is negative. On the BSE, 882 shares rose and 1158 shares fell. A total of 142 shares were unchanged.
Meanwhile, in the wake of rising COVID-19 cases in Maharashtra, Uddhav Thackeray-led state government on April 4 imposed new curbs to control the transmission rate of the contagion. Maharashtra will be put under night curfew from 8 pm to 7 am from April 5.
Lacklustre opening likely for markets ahead of RBI meet, results
April 05, 2021
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Stocks to watch out for today are Adani Enterprises, ITNL, PNC Infratech, Olectra Greentech, Ashiana Housing and ANG Lifesciences.
After a long weekend, Indian markets are expected to open on a flat note on Monday. While signals are mixed from Asian markets, SGX Nifty points a 40-point gap down opening. The SGX Nifty futures currently rule at 14,915 (8 am IST), as against Nifty futures Thursday s close of 14,953.35.
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Investors will closely monitor the outcome of the RBI meet and quarterly performance of India Inc, said analysts. The RBI s three-day meeting begins today, and the outcome is expected to be on April 7. Acuite Ratings believes that MPC, in its upcoming meeting, will continue to reaffirm the accommodative monetary policy despite the global increase in bond yields amidst concerns of a quicker than expected normalisation in the markets of developed economies.
Adani Road Transport, a wholly-owned subsidiary of Adani Enterprises, secured a road project worth Rs 2,020.93 crore.The order entails six laning of National Corridor NH-19 from Panagarh to Palsit in West Bengal under Bharatmala Pariyojana to be executed on BOT-(Toll) basis. The concession period is 20 years including contruction period of 2.5 years.
With this project award, Adani Group will have total nine NHAI road projects under HAM, toll-operate-transfer (TOT) and build-operate-transfer (BOT)-Toll basis in Chhattisgarh, Telangana, Andhra Pradesh, Madhya Pradesh, Kerala, Gujarat and West Bengal.
Meanwhile, Adani Enterprises along with its wholly owned subsidiary company, Gare Palma II Collieries (GPIICPL) has signed coal mining agreement (CMA) with Maharashtra State Power Generation Company (MAHAGENCO) for development and operation of Gare Palma Sector II Coal Mine.