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PSU Sector: Growth Plans

| 12/27/2012 9:00 PM Thursday

CIL

Submits Plans To Develop 119 Mines

Coal India (CIL) has submitted an initial perspective plan for developing 119 mines allocated to it. The state-owned coal major accounts for over 80 per cent of the country’s domestic production. Earlier, CIL had expressed hope that it can start mining in 13 of the 119 blocks allotted to it in one or two years. The state-owned firm had asked for 138 mines in August 2008 in order to reverse the declining trend of production and to augment output.

CIL presently has 466 mines. It has set a target to produce 464 million tonnes (MT) of coal for the current financial year. In 2011-12, it had produced 435.84 MT and envisages taking its production to the level of 615 MT by 2016-17, the last year of the 12th Five Year Plan.

MTNL

Set To Raise Rs 5000-7000 Crore Via Sovereign Bonds

Mahanagar Telephone Nigam (MTNL) is planning to raise about Rs 5000-7000 crore by issuing sovereign bonds this fiscal year to reduce its debt burden. They have sought government approval for the sovereign bonds. The timing of the issue depends on government approval.

BHEL

To Invest Rs 2000 Crore For Solar Gear Making Plant

BHEL plans to invest upto Rs 2000 crore for setting up a solar equipment manufacturing facility having a capacity of 600 MW. BHEL, grappling with persisting headwinds in the power sector, is betting on business diversification spread across various areas including the solar energy and defence sectors. Its move to foray into solar equipment manufacturing comes at a time when the import of cheap solar gears, especially from China, as well as overcapacity are hurting the Indian players. The solar equipment from some countries is coming into India at prices lower than their market value. Currently, there is no customs duty on imported solar power equipment. The company has an existing order book of Rs 1.30 lakh crore.

OIL

Govt. To Float OIL's Rs 2500 Crore Issue

The Government of India has decided to sell its 10 per cent stake in oil explorer and producer Oil India (OIL) by January 15, 2013 after some government and industry officials said that it would be difficult to hold effective road shows abroad because of the Christmas-New Year break. This is the first time that the government has given a formal time-frame for OIL's offer for sale that aims to raise Rs 2500 crore.

 

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DSIJ Mindshare

Index trend and stocks in action June 17, 2019

Karan DSIJ / Article rating: 5.0

In case Nifty falls below the level of 11,770, it may test the 11,600 mark in the near term. To move upside, the bulls need to move above the 20-DMA once again and sustain for at least two to three days. Only then, the bulls will gain confidence. Stocks in news: BHEL, Elecon Engineering Company, PG Electroplast, FDC, Divi’s Laboratories, Symphony, Coromandel International, Voltas.

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Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Tiger Logistics topline to grow by 10%--buoyant over infra sector status to logistics sector

Logistics sector will play a vital role in making the concept of ‘Make in India’ a success. This will be further aided by some of the recent steps taken by Government of India such as granting of infra sector status to logistics sector.

Best and worst Performing Sector Funds of Year 2017

Best and worst Performing Sector Funds of Year 2017

As the year-end has approached most of you are eager to know the mutual fund movers and shakers of the year 2017. Read on to find the performance of various sector dedicated funds.

Markets may start positive, but volatility likely due to F&O expiry

Markets may start positive, but volatility likely due to F&O expiry

The start of the F&O expiry day is likely to be in the green, but volatility may creep in with the progress of the session. The SGX Nifty suggests that the Nifty could open at 10,525 with gains of 32 points at the opening bell. 

Pidilite announces buyback of Rs 500 crore

Pidilite announces buyback of Rs 500 crore

The buyback offer comprises purchase of up to 50,00,000 equity shares. The buyback offer size comprises 0.975 per cent of the total paid-up equity capital of the company.

Bank Nifty drags markets to close in the red

Bank Nifty drags markets to close in the red

The late session fall in Bank Nifty changed the direction of the market, leading to a marginal fall in the benchmark indices. Bank Nifty yet again resisted at its multiple point downward sloping trendline level at 25733.

Six major underperforming MF schemes having higher expense ratios

Six major underperforming MF schemes having higher expense ratios

Mutual funds with a large size of assets under management (AUMs) are supposed to have lower expense ratios. However, there are schemes with large AUMs but having higher expense ratios and generating lower returns. 

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma supports market; Sun Pharma at bullish reversal

Nifty Pharma index has come in as the healer in an otherwise sluggish market. Index has given a consolidation breakout at the 9420 level today and if the it sustains 9420, followed by 9628 on the upside, it has a long way to go.

Ten stocks close to their 52-week low

Ten stocks close to their 52-week low

Following stocks are close to their 52-week low as at 12.35 p.m. on December 27.

Ten stocks close to their 52-week high

Ten stocks close to their 52-week high

The markets on December 27 opened gap down. BSE Sensex is trading at 34,068.15, up by 57.54 points and the Nifty is trading at 10,539.45, up by 7.95 points.

Five stocks with selling interest

Five stocks with selling interest

Overall volumes in futures & options currently stand at 62.75 lakh contracts with a turnover of Rs. 5,19,204.72 crore.