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<ul><li>At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50. </li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li>Check out the latest news and updates on Business Insider. </li></ul>Indian stock market is likely to open on a muted amidst mixed cues from global peers. At 8:00 am the SGX Nifty was trading flat pointing towards a cautious start for Nifty50. Whereas, on Wednesday, US stocks ended higher. Dow Jones Industrial Average increased 1.59%, marking its best single-day rise since July 14. Here’s a list of stocks to watch for in trade on September 3: Future Retail Fitch placed Future Retail on ‘Rating Watch Positive’ after it sold a stake to RIL. It reflects the financial stress in the company, irrespective of the sale decision. “Fitch Ratings has placed Indian retailer Future Retail Limited’s (FRL) Issuer Default Rating (IDR) of ‘C’ and the rating on its USD500 million 5.6% senior secured notes due in 2025 of ‘C’ with a Recovery Rating of ‘RR4’ on Rating Watch Positive,”<a href="https://www.fitchratings.com/research/corporate-finance/fitch-places-future-retail-on-rating-watch-positive-on-sale-to-reliance-02-09-2020"> the company said</a>. The shares of Future retail ended 10% lower yesterday. IndusInd Bank IndusInd Bank in focus on back of fundraising plans. The bank has approved allotment of 47 million shares to marquee investors to raise ₹2,495.79 crore. The Finance Committee of the board of directors at its meeting held on September 2 approved allotment shares of the face value of ₹10 each at a price of ₹524 per share. The shares of IndusInd Bank ended 2.10% higher yesterday. Engineers India Order win boost likely for Engineers India. The company has received an order worth ₹4.48 billion from Gail India for setting up PP plant and pipeline at Uran. The shares of Engineers India ended 1% higher on September 2. Coal India Coal India posted a 55% fall in its net profit, with revenue plummeting nearly 26% in the first quarter ended June 30. The company said its volume was impacted due to less demand as most of the industries were shut during the lockdown. The shares of Coal India ended 2% higher on September 2. Rossari Biotech Plutus Wealth Management, a financial advisory company, based in London, bought nearly 3 lakh shares of the company at ₹773.82 per share. The shares of Rossari Biotech ended 13% higher yesterday. JSW Energy JSW Energy promoter Glebe Trading released 84 lakh pledged shares of the company and the Danta Enterprises pledged 1.04 crore shares. The shares of JSW Energy ended 7% higher yesterday. Vodafone Idea The Vodafone Idea board is due to meet tomorrow (September 4) for considering the fundraising proposal. The shares of Vodafone Idea ended 13% higher yesterday. SpiceJet, IndiGo, GVK and other aviation stocks SpiceJet, Indigo, GVK and other aviation stocks will be in focus today as the India civil aviation ministry has raised domestic flight operations to 60%. The shares of Indigo closed 4% higher, GVK was up 5%, whereas SpiceJet was trading flat yesterday. Tata Motors Tata Motors records 21.6% growth in overall domestic sales led by 154% growth in the passenger vehicle segment. Meanwhile the domestic commercial vehicles segment saw a decline of 28%. The shares of Tata Motors closed 5% higher yesterday. SEE ALSO: <a href="https://www.businessinsider.in/india/news/pm-modi-twitter-account-hacked-heres-what-the-hacker-had-tweeted/articleshow/77902203.cms?upcache=2" data-type="tilCustomLink">Twitter account of PM Modi’s personal website hacked— Here’s what the hacker had tweeted</a> <a href="https://www.businessinsider.in/tech/news/google-is-releasing-data-on-how-people-have-been-searching-for-covid-19-symptoms-in-the-hope-it-will-help-researchers-track-the-virus/articleshow/77894169.cms" data-type="tilCustomLink">Google is releasing data on how people have been searching for COVID-19 symptoms, in the hope it will help researchers track the virus</a>

Top stocks to watch— Future Retail, IndiGo, SpiceJet, Tata Motors, IndusInd Bank, Coal India, Engineers India, Rossari Biotech, Vodafone-Idea and more

<ul><li>At 7:40 am, the SGX Nifty was up 0.30%, indicating a positive start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, led by positive cues from the global markets. At 7:40 am, the SGX Nifty was up 0.30%, indicating a positive start for Nifty50. On Monday, the US stocks ended in positive territory as the head of the White House’s Operation Warp Speed said some Americans would be able to receive coronavirus vaccinations by mid-December. The Dow Jones Industrial Average closed 327 points higher, and the S&amp;P 500 was up 0.56%. These are the stocks to watch out for during the trading session today: Oil, paint, aviation stocks in focus Oil, paint and aviation stocks will be in focus during the trade as the<a href="https://www.businessinsider.in/stock-market/news/oil-jumps-to-highest-since-early-september-on-latest-sign-of-vaccine-progress/articleshow/79372419.cms"> crude oil prices </a>continue to rise. Crude oil climbed to its highest price since September 1 on Monday after AstraZeneca announced an encouraging update to the development of its coronavirus vaccine. Crude oil is a key component for manufacturing of paint and turbine fuel. Watch out for the likes of BPCL, HPCL, IOC, Asian Paints, Berger Paints, IndiGo, and others in these sectors. SpiceJet SpiceHealth, a company founded by SpiceJet promoters, has launched a budget Covid test. The company will conduct the Real-Time Polymerase Chain Reaction (RT-PCR) test for COVID-19 starting at ₹499. This will drastically reduce the price of the RT-PCR test which ordinally costs ₹3500. The shares of SpiceJet ended 3% lower on Monday. Ingersoll Rand India The promoter Ingersoll Rand Inc will sell up to 4.52% stake through an Offer for Sale (OFS) at a floor price of ₹578.6/share. The offer opens for non-retail investors today and tomorrow for retail investors. The shares of Ingersoll Rand India ended 3% higher on Monday. Coal India Four trade unions have served a one-day strike notice to the company and its arms on November 26; the company informed investors. Efforts would be made to avert the strike and conciliatory process is going on, it said, without giving out further details. Also, Coal India has raised non-coking coal prices by ₹10 per ton for regulated and non-regulated sectors The shares of Coal India ended 1% higher on Monday. GHCL The stock exchanges have given a no-objection letter for the demerger of the company’s textile business into GHCL Textiles. The shares of GHCL ended 2% higher on Monday. Muthoot Finance Gold loan NBFC Muthoot Finance has tied up with Bajaj Allianz General Insurance to provide insurance on gold jewellery as part of their new initiative - “Muthoot Gold Shield”, which is backed and powered by insurer’s Group Affinity All Risk policy. The policy is designed to provide insurance coverage of gold jewellery articles for customers of the company at the time of closure of a gold loan and the release of gold ornaments. The shares of Muthoot Finance ended 3% lower on Monday. PVR Gemasia has acquired 4.25 lakh shares or 0.77% stake in PVR at ₹1,265.67 per share. The shares of PVR ended 4% higher on Monday. GMR Infra A step-down subsidiary of GMR Infra, GMR Kamalanga Energy is required to pay claims of ₹1,005 crore to SEPCO Electric Power Construction Corporation towards project payments, prolongation costs, as confirmed by the arbitration tribunal. The shares of GMR Infra ended 6% higher on Monday. Jubilant Industries Jubilant Industries to transfer its liquor license and will not manufacture India Made Foreign Liquor hereon. The shares of Jubilant Industries ended 10% higher on Monday. Trigyn Technologies Trigyn Technologies has extended its contract with the United Nations for the provision of I.T. staffing support service till December 2021. The shares of Trigyn Technologies ended 10% higher on Monday. SEE ALSO: <a href="https://www.businessinsider.in/politics/world/news/biden-will-pick-former-federal-reserve-chair-janet-yellen-to-head-the-treasury-department/articleshow/79378968.cms" data-type="tilCustomLink">Biden will pick former Federal Reserve Chair Janet Yellen to head the Treasury Department</a> <a href="https://www.businessinsider.in/politics/world/news/boris-johnson-to-relax-the-national-coronavirus-lockdown-and-allow-households-to-celebrate-together-over-christmas/articleshow/79368293.cms" data-type="tilCustomLink">Boris Johnson relaxes the national coronavirus lockdown and says families can meet to celebrate Christmas</a>

Top stocks to watch — BPCL, IndiGo, Asian Paints, SpiceJet, Coal India, PVR, GMR Infra, Ingersoll Rand, and others

<ul><li>The US equities closed sharply lower on Monday as investors awaited direction on the stimulus deal amidst rising COVID cases.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst mixed cues from the global markets, the Indian equities are likely to open lower on Tuesday. The SGX Nifty was trading 0.14% down at 7:45 am, indicating a negative start for Nifty50. The US equities also closed sharply lower on Monday as investors awaited direction on the stimulus deal amidst rising COVID cases. The Dow Jones Industrial Average dropped 410.89 points, and the S&amp;P 500 was down 1.63%. These are the stocks to watch out for during the trading session on October 20: Coal India, NTPC, NMDC and Engineers India The shares of Coal India, NTPC, NMDC and Engineers India will be in focus today <a href="https://timesofindia.indiatimes.com/business/india-business/centre-asks-at-least-8-state-run-companies-to-consider-buybacks-report/articleshow/78746179.cms">after reports surfaced</a> that the Indian government asked these companies and 4 state-run companies to consider share buybacks in the fiscal year that runs through March 2021. The shares of Coal India, NTPC, NMDC and Engineers India ended in green on Monday. Britannia Industries The biscuit major Britannia Industries reported a 22.96% jump in consolidated net profit to ₹495.20 crore for the quarter ended September 30. While revenue from operations rose 12.15% to ₹3,419.11 crore during the quarter under review. However, the profit growth was much lower compared to the sequential lockdown quarter. The shares of Britannia Industries ended 2% higher on Monday. HDFC Life HDFC Life Insurance Company reported a 6.1% increase in consolidated net profit to ₹327.83 crore for the quarter ended September 30. The total income of the life insurer jumped nearly 90% to ₹16,426.03 crore, it said in a stock-exchange filing. The shares of HDFC Life ended 2% higher on Monday. MRPL and ONGC Mangalore Refinery and Petrochemicals will buy 49% stake in ONGC for ₹ 1,220 crore. Also, ONGC has issued non-convertible debentures worth ₹1,140 crore on a private placement basis. The shares of MRPL ended 2% higher on Monday, whereas ONGC gained over 3%. ACC The cement maker ACC reported a 20.25% increase in consolidated net profit to ₹363.85 crore for the third quarter ended September 30. The company follows the January-December financial year. The overall revenue from operations remained flat at ₹3,537.31 crore. The shares of ACC ended 0.41% higher on Monday Larsen &amp; Toubro Infotech and Hindustan Unilever (HUL) Larsen &amp; Toubro Infotech and Hindustan Unilever (HUL) are slated to report their second-quarter earnings today. The shares of Larsen &amp; Toubro Infotech ended 1% lower on Monday, whereas HUL ended 2% higher. Equitas Small Finance Bank The Equitas Small Finance Bank ₹517.6 crore initial public offer (IPO) will open today for bidding. Price band has been fixed at ₹32-33 per share. The issue will remain open for investors until October 22. SEE ALSO: <a href="https://www.businessinsider.in/policy/foreign-policy/news/trump-versus-biden-what-the-result-of-us-election-could-mean-for-india/articleshow/78750339.cms" data-type="tilCustomLink">EXCLUSIVE: Trump versus Biden — Here’s what the result of the US election could mean for India</a> <a href="https://www.businessinsider.in/business/auto/news/exclusive-why-tata-motors-ceo-is-not-worried-about-musks-tesla-coming-to-india/articleshow/78749755.cms" data-type="tilCustomLink">EXCLUSIVE: Why Tata Motors CEO is not worried about Musk's Tesla coming to India</a> <a href="https://www.businessinsider.in/business/startups/news/byjus-renewal-rates-stand-at-86-the-founder-of-the-11-billion-edtech-startup-shares-how-they-cracked-the-code-for-repeat-subscriptions/articleshow/78749254.cms" data-type="tilCustomLink">EXCLUSIVE: BYJU’S renewal rates stand at 86% – the founder of the $11 billion edtech startup shares how they cracked the code for repeat subscriptions</a>

Top stocks to watch — HDFC, HUL, Britannia, ACC, MRPL, ONGC, Coal India, and others

<ul><li>At 7:50 am, the SGX Nifty was down 0.44%, indicating a subdued start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amidst negative cues from global markets, Indian stock-market indices are likely to open on a tepid note on Thursday. At 7:50 am, the SGX Nifty was down 0.44%, indicating a subdued start for Nifty50. US equities also fluctuated on Wednesday as investors sold off technology stocks that benefited from virus lockdowns. The Dow Jones Industrial Average closed 23.29 points lower, whereas, the S&amp;P 500 closed 0.77% higher. These are the stocks to watch out for during the trading session today: SpiceJet Budget carrier SpiceJet on Wednesday reported a net loss of ₹112.6 crore for the quarter ended September 30. It had posted a net loss of ₹462.6 crore for the corresponding period last year. The airline’s total income stood at ₹1,305 crore in the quarter, down from ₹3,074 crore in the year-ago period. The shares of SpiceJet ended 6% higher on Wednesday. Reliance Industries The Competition Commission of India (CCI) on Wednesday said it had approved internet major Google’s proposed purchase of 7.73% stake in Jio Platforms. The transaction will facilitate Google and Jio Platforms Ltd (JPL) to develop and launch a new smartphone in the country. In July, it was announced that Google had agreed to invest ₹33,737 crore to buy a 7.7% stake in the Reliance Industries’ technology venture. The shares of Reliance Industries ended 4% lower on Wednesday. Coal India State-run Coal India Ltd on Wednesday reported a 16 per cent fall in its consolidated net profit to ₹2,951 crore in the second quarter ending September 30. The miner had posted a net profit of ₹3,523 crore in the year-ago period. Although, the company’s revenue from sales was at ₹19,484 crore during the quarter under review as against ₹18,986 crore in the year-ago period. The shares of Coal India ended 1% higher on Wednesday. Power Grid State-owned Power Grid posted an over 20% rise in consolidated net profit to ₹3,094.10 crore in the September quarter, mainly due to higher revenues. Total income during the period under review rose to ₹9,831 crore from ₹9,260.46 crore in the same period a year ago. The shares of Power Grid ended 2.14% higher on Wednesday. Apollo Hospitals Corporate hospital major Apollo Hospitals is set to acquire the remaining 50% stake in Apollo Gleneagles Hospitals held by Gleneagles Development PTE Ltd, Singapore for ₹410 billion. Consequent to this development, Apollo Gleneagles would become a 100% wholly-owned subsidiary of the city-based Apollo Hospitals. The shares of Apollo Hospitals ended 8% higher on Wednesday. Happiest Minds Tech Ashok Soota backed Happiest Minds Tech has entered into a strategic partnership with lo-Tahoe to provide their clients with effective data discovery and governance solutions. The shares of Happiest Minds Tech ended 2% higher on Wednesday. Future Lifestyle Fashion CARE Ratings has downgraded long-term bank facilities and NCDs from CARE BB to CARE C, with outlook staying unchanged at credit watch with negative implications for Future Lifestyle Fashion. Kotak Mahindra Asset Management<a href="https://worldsnews.biz/future-group-excellent-bonds-commerce-as-excessive-as-50-as-amazon-tussle-over-ril-deal-intensifies/"> Company has also sold a part of its holding</a>s in Future Lifestyles Fashions (FLFL) in the past three days at yields in the range of 35-50%. The shares of Future Lifestyle Fashion ended 1% higher on Wednesday. Coffee Day Enterprises Coffee Day Enterprises told investors that the exchanges had given a notice for compulsory delisting of the company. Eicher Motors, IRCTC, Mazagon Dock Shipbuilders and Page Industries Eicher Motors, IRCTC, Mazagon Dock Shipbuilders, Page Industries and others are slated to report their quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/spicejet-shrink-its-losses-to-112-59-crore-in-the-second-quarter-ended-september-30/articleshow/79172678.cms" data-type="tilCustomLink">Spicejet is losing one rupee where it was losing four thanks to cheaper fuel and cut in rentals</a> <a href="https://www.businessinsider.in/policy/economy/news/indian-government-approves-the-pli-scheme-for-10-sectors/articleshow/79172901.cms" data-type="tilCustomLink">Indian government approves the Production Linked Incentive scheme for 10 sectors worth ₹2 lakh crore</a>

Top stocks to watch — RIL, SpiceJet, IRCTC, Mazagon Dock Shipbuilders, Coal India, Power Grid, Future Lifestyle, Happiest Minds Tech and others

<ul><li>At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50.</li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to start on a tepid note on Wednesday, led by mixed cues from the global markets. At 7:40 am, the SGX Nifty was down 0.58%, indicating a slow start for Nifty50. However, on Tuesday, the <a href="https://www.businessinsider.in/stock-market/news/sp-500-and-nasdaq-close-at-record-highs-as-investors-bet-that-a-vaccine-will-drive-an-economic-rebound/articleshow/79520724.cms">US stocks closed at record highs</a> as investors bet that a vaccine will drive an economic rebound. The Dow Jones Industrial Average closed 185.28 points higher, and the S&amp;P 500 was up 1.13%. These are the stocks to watch out for during the trading session today: Dr Reddy’s Laboratories Dr Reddy’s Laboratories and Russian Direct Investment Fund (RDIF) on Tuesday said they had commenced adaptive phase 2/3 clinical trials for the Sputnik V COVID-19 vaccine in India. The trials have commenced after receiving the necessary clearance from the Kasauli-based Central Drugs Laboratory, the company said. Hero MotoCorp Hero MotoCorp reported a 13.82% year-on-year rise in its domestic wholesale for November, led by a robust recovery in sales of its entry-level motorcycles in rural and semi-urban markets. The exports rose by 40.37% during the month. Eicher Motors Eicher Motors has registered a growth of 3.2% YoY in its November sales led by domestic sales of Eicher trucks and buses. TVS Motor TVS Motor sales grew by 21% registering 322,709 units in November 2020 as against 266,582 units in November 2019. Phoenix Mills Phoenix Mills (PML) and its subsidiaries have signed a non-binding term-sheet with an affiliate of Singapore’s sovereign wealth fund GIC for formation and development of to set up a retail-led mixed-use platform. The proceeds from the proposed transaction are intended to be utilized as growth capital for further expansion and acquisition of greenfield, brownfield, operational and distressed mall opportunities, Phoenix said in a statement. Coal India State-owned Coal India on Tuesday reported a 3.4% rise in production at 51.7 million tonnes (MT) in November. Reliance Power Reliance Power defaults on interest payments due on term loans from Axis Bank, Yes Bank and IDBI Bank. The company has a total financial indebtedness of ₹1,360 crore. Praj Industries Tata Capital Financial Services sold 11.6 lakh shares in Praj Industries at an average price of ₹91.16/share. Burger King India Burger King India <a href="https://www.businessinsider.in/business/corporates/news/burger-king-grey-market-premium-and-heres-what-brokerages-say-about-the-ipo-opening-tomorrow/articleshow/79508730.cms">IPO opens for public subscription today</a>. The company has fixed the price band at ₹59-60 per share and is looking to raise ₹810 crore SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/heres-what-to-expect-from-maruti-mm-hero-bajaj-auto-in-november-car-bike-sales/articleshow/79489474.cms" data-type="tilCustomLink"> November auto sales estimates — Here’s what to expect from Maruti, M&amp;M, Hero, Bajaj Auto, and other automakers</a> <a href="https://www.businessinsider.in/india/news/centre-invites-agitating-farmer-unions-for-talks-on-december-1-two-days-ahead-of-a-scheduled-meeting/articleshow/79502391.cms" data-type="tilCustomLink">Centre invites agitating farmer unions for talks on December 1, two days ahead of a scheduled meeting</a>

Top stocks to watch — Dr Reddy’s Lab, Reliance Power, Hero Moto, Eicher Motors, TVS Motor, Phoenix Mills, Coal India, and others

State-owned <keyword id="59700" type="CITY" weightage="100" keywordseo="Coal-India-Ltd">Coal India Ltd</keyword> arm <keyword id="175844" type="ORGANIZATION" weightage="20" keywordseo="CCL">CCL</keyword> today said that it will not go ahead with the proposed buyback plan worth Rs 1,001.8 crore, according to <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword>. 
 "The board of Directors of CCL at its meeting held on March 10, 2017 have after reviewing the limited reviewed unaudited financials of the <keyword id="24975" type="ORGANIZATION" weightage="20" keywordseo="company">Company</keyword> ended 31 December 2016, based on the Revised Valuation Report submitted by <keyword id="146899" type="POSITION" weightage="20" keywordseo="merchant-banker">Merchant Banker</keyword>, decided not to proceed with the proposed buyback," <keyword id="45383" type="COMPANY" weightage="20" keywordseo="Coal-India">Coal India</keyword> said in a filing to BSE. 
 
Central Coalfields Ltd (CCL)-- the Coal India arm -- had a few days back approved a share buyback plan worth Rs 1,001.88 crore. 
 
"The board of directors of CCL, our wholly-owned subsidiary, at a meeting held on March 3, 2017 considered and approved the buyback of 5,21,000 fully paid equity shares of face value of Rs 1,000 each from the members of CCL on a proportionate basis through tender offer," Coal India had said. 
 
The equity shares are proposed to be bought back "for an aggregate amount not exceeding Rs 1,001.88 crore...at a price of Rs 19,230 per equity share payable in cash, subject to the approval of the shareholders of CCL," it had said. 
 
The equity shares proposed to be bought back by CCL represent 5.54 per cent the total number of equity share capital in the paid up share capital of CCL, the company had said. 
 
Coal India accounts for over 80 per cent of the country's domestic production. 
 In another filing to BSE, CIL said its board today approved to tender the shares held by the <keyword id="44530" type="COMPANY" weightage="20" keywordseo="PSU">PSU</keyword> in its arms -- <keyword id="260788" type="COMPANY" weightage="20" keywordseo="Mahanadi-Coalfields-Ltd">Mahanadi Coalfields Ltd</keyword> (MCL), <keyword id="758143" type="ORGANIZATION" weightage="20" keywordseo="Northern-Coalfields-ltd">Northern Coalfields Ltd</keyword> (<keyword id="6371398" type="ORGANIZATION" weightage="20" keywordseo="NCL">NCL</keyword>), <keyword id="1440942" type="COMPANY" weightage="20" keywordseo="South-Eastern-Coalfields-Ltd">South Eastern Coalfields Ltd</keyword> (SECL) -- in their respective buyback offer. 
 
MCL's 4,51,743 shares would be tendered in the buyback offer and "the price per share at which the shares are to be tendered is (in Rs) 35,796.02." 
 
NCL's 4,11,135 shares would be tendered in the buy back offer and "the price per share at which the shares are to be tendered is (in Rs) 30,260.70." 
 
SECL's 6,09,250 shares would be tendered in the buy back offer and "the price per share at which the shares are to be tendered is (in Rs) 19,699.47."

Coal
India Ltd arm refused to go with Rs 1,002-crore buyback plan

Nagpur, Apr 3 () Western Coalfields Ltd (WCL), a subsidiary of Coal India, has slashed the coal auction floor price of specific mines by 10 per cent, a statement said. With an effort to provide coal at cheaper price to consumers during the current Covid-19 pandemic, the reduced auction price will be applicable for coal from 'mine specific source' for all auctions to be conducted by WCL in April 2020. "This will help both Power and Non-Power consumers to get coal at reduced price," it said. WCL had identified 11 out of its total 66 mines in November 2019 as 'mine specific source' specially for use of power plants at an additional add-on price of Rs 450 per tonne over the notified price. These 11 mines, including eight greenfield ones -- Dinesh, Makardhokra I, Gokul Bhanegaon, Singhori, Penganga, Yekona, Pauni II &amp; 3 Brownfield- Mungoli, Niljai, and Gondegaon -- were opened during the last five years to provide coal to power consumers in central, western and southern India at their doorstep at cheaper landed price. Earlier, these power plants were getting coal from mines located in eastern India which was costly due to extra railway freight, it said. With opening of new projects by WCL, coal became cheaper for these plants to the tune of Rs 1,000 per tonne on an average. WCL requested power entities to share this gain by adding Rs 450 per tonne over the notified price for these 11 specific mines, the statement said. No change in pricing was done for remaining 55 mines. All linked power plants, including state gencos of Maharashtra, Madhya Pradesh, Gujarat, Karnataka and other private sector power plants are getting coal at specific add on price from these 11 mines. "WCL has decided to reduce Special Forward &amp; Spot e-auction floor price of 11 specific mines by 10%," it said. Spot auction floor price will be 20 per cent over notified price instead of present 30 per cent, and special forward floor price will be 8 per cent over notified price instead of present 18 per cent. "This reduced price will be applicable for Spl Forward &amp; Spot Auction conducted during April'20 only. Earlier floor price will continue from Auctions conducted from May'20 onwards. "WCL is thus providing a window of one month to its consumers for getting coal at a cheaper price. The lifting period of the booked coal at cheaper price in both auctions to be held in April'20 will be as per existing policy &amp; guidelines of the Company," the release said. CLS RSY ABMABM

CIL arm WCL slashes coal auction floor price for specific mines

New Delhi, The <keyword id="1259130" type="PERSON" weightage="20" keywordseo="production-cost">production cost</keyword> of India's steel producers using the blast furnace route would remain contained in the near term due to China's ban on <keyword id="10497991" type="UNKNOWN" weightage="20" keywordseo="australian-coking-coal">Australian coking coal</keyword>, India Ratings and Research (<keyword id="1704466" type="COMPANY" weightage="20" keywordseo="Ind-Ra">Ind-Ra</keyword>) said. Accordingly, the <keyword id="10497992" type="UNKNOWN" weightage="20" keywordseo="chinese-move">Chinese move</keyword> will lead to softer coking coal prices which shall directly support EBITDA per tonne accretion of around Rs 2,600 over FY21 for companies using the blast furnace route. "Such companies are likely to have reduced cost of <keyword id="113521" type="PERSON" weightage="20" keywordseo="steel-production">steel production</keyword> by around ₹1,800 per tonne YoY in 2HFY21, supported by the reduced cost of coking coal per tonne of around ₹7,300," Ind-Ra said in a report. As per Ind-Ra, China's ban has led to negative bias on coking coal prices. It expects Australia premium hard coking coal (HCC) CNF prices would be around $120 per tonne over remaining FY21, except for any weather-related supply disruptions in Australia. "Despite China's healthy steel production growth of 7% YoY in the first 7MFY21, its coking coal imports have significantly reduced by 12% as against an increase of 14% YoY in FY20, reflecting the country's increased reliance on domestic coking coal. "Considering the low coking coal imports by China in 7MFY21 and a possible further reduction amid China's ban on Australian coking coal, an excess supply would build-up unless Australian miners reduce their output considerably. "Hence, Ind-Ra understands coking coal prices would remained soft although other major coking coal importers such as India, Japan and South Korea's production levels have recovered them to pre-covid levels," Ind-Ra added. Lately, China and Australia were the largest coking coal trade partners in the world. China's imports and Australia's exports, respectively, form 40% and 65% of the world's overall coking coal trade. "As Chinese end-users are likely to increase their domestic coal production or import coking coal from countries such as Indonesia, Russia, Canada and the US, Indian buyers would gain more bargaining power with Australian coking coal. "India and China have been the largest consumers of Australian coking coal, competing with each other and composing 25% and 24% respectively, of Australia's total metallurgical coal exports." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/top-stocks-to-watch-mrs-bectors-ril-bharti-airtel-vodafone-idea-ilfs-interglobe-aviation-future-group-deepak-nitrite-jubilant-foodworks-and-others/articleshow/79933826.cms">Top stocks to watch – Mrs Bectors, RIL, Bharti Airtel, Vodafone Idea, IL&amp;FS, InterGlobe Aviation, Future Group, Deepak Nitrite, Jubilant FoodWorks, and others</a> <a href="https://www.businessinsider.in/stock-market/news/there-are-one-of-only-17-indian-companies-out-of-500-that-aced-the-du-pont-test/articleshow/79911627.cms">There are one of only 17 Indian companies out of 500 that aced the Du Pont test</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-buyback-offer-details-and-700-million-metro-ag-deal-drives-share-price/articleshow/79911875.cms">Wipro offers 10% more to buy back shares and signs a $700 million deal with Metro AG – everything that’s driving the IT services stock higher today</a>

China's ban on Australian coking coal to benefit India's steel producers, says India Ratings and Research

The Modi-led government is banking among other things on its ambitious <a href="http://businesstoday.intoday.in/story/disinvestment-process-arvind-mayaram-ongc-nhpc/1/209842.html" target="_blank" title="Disinvestment process to start in 2-3 months: Mayaram">disinvestment programme </a>to pare fiscal deficit—the amount of money it borrows to fund its expenses—from 4.5 % of gross domestic product in 2013-14 to 4.1% in 2014-15. However, like the previous <keyword id="26374" type="ORGANIZATION" weightage="20" keywordseo="UPA-government">UPA government</keyword>, the new NDA regime too is unlikely to meet its divestment target. 
 It recently approved share-sale plan in three state-owned companies—Coal India (CIL), National Hydroelectric Power Corporation (<keyword id="45180" type="CITY" weightage="20" keywordseo="NHPC">NHPC</keyword>) and Oil and Natural Gas Corporation (ONGC). This will help it scoop up Rs 44,000 crore, which looks close to the government’s target of raising Rs 43,425 crore from stake sale in public sector companies in the current financial year. However, even the most optimistic empathisers say the government is likely to miss the target. 
 The government plans to sell 10% stake in <keyword id="45383" type="COMPANY" weightage="20" keywordseo="Coal-India">Coal India</keyword>, 5% in ONGC and 11.36% NHPC which will fetch Rs 23,000 crore, Rs 18,000 crore and Rs 2,800 crore, respectively, at current market prices (it currently holds stakes of 89.65 per cent in Coal India, 85.96 per cent in NHPC and 68.94 per cent in ONGC). 
 The track record of the government in meeting divestment target is far from impressive—it missed target for the last financial years (last year, it raise only Rs 16,027 crore against a target of Rs 40,000 crore). So far this year, it has managed to raise only Rs 1,700 crore, by divesting a 5% Steel Authority of India (<keyword id="6357529" type="CITY" weightage="20" keywordseo="SAIL">SAIL</keyword>). 
 
A clutch of factors may hinder the government from meeting its target this year as well. Its plan to scoop up Rs 23,000 crore via sale of 10% in Coal India is too big to be achieved. This will be the first time the government is going to make such a huge offering (the largest share sale so far is Coal India’s Rs 15,000-crore IPO in October 2010) and if the market has the appetite to absorb such a humongous offer is yet to be seen. The government may also find it hard to overcome the stiff resistance from trade unions that are vehemently opposed to stake sale in Coal India. 
 Another concern is about ONGC. Crude oil prices have been trading at historic lows of late amid worries of a supply glut (prices have already dipped below $60 per barrel, which is a multi-year low) after <keyword id="47969" type="ORGANIZATION" weightage="20" keywordseo="Opec">OPEC</keyword> decided not to cut production in the last week of November. Non-OPEC member Russia, another top oil producer, too indicated it will not pare production. So whether investors would be ready to invest in ONGC at a time when oil prices have seen an unprecedented decline is another question. 
 
Also, the government would need active participation from public-sector financial institutions such as Life Insurance Corporation (LIC) to make the stake sale in Coal India and ONGC, etc. a success. For instance, in 2011-12, LIC invested around Rs 12,000 crore to pick part of ONGC shares that were on offer. However, this time around analysts expect the life insurance major to stay away from such an indulgence as its premium collection has failed to gain speed so far this year—a sign of increasing competition from a litany of private sector players that are trying to defeat life insurance behemoth on its own turf. 
 Another factor which will decide the success of this year’s stake sale is participation from global investors. However, considering the dip in inflows from FIIs to the <keyword id="47445" type="UNKNOWN" weightage="20" keywordseo="Indian-market">Indian market</keyword> in recent times, participation from global players including sovereign wealth funds may be a dampener. Whether this year’s <keyword id="981290" type="UNKNOWN" weightage="20" keywordseo="Divestment-plan">divestment plan</keyword> is going to be a bang or a whimper will also be dependent on how well finance ministry and divestment department are going to market the salability of the public-sector biggies that are on the block.

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