The Supreme Court has cancelled all coal blocks except government run non-JV allotments. According to experts, this was on expected lines after the apex court had judged all coal block allocations post 1992 as illegal.
The Competition Commission has ordered an investigation against Indian Railways and its arm IRCTC for alleged unfair practices related to compulsory sale of food to travellers on some trains and ticket booking.
The federal government will divest 10 percent equity in the state-run Coal India next fiscal, hoping to generate USD 8-10 billion, going by the valuation of a comparable Chinese company, a top official said on Thursday.
Coal India will soon approach the
market regulator SEBI seeking clarity on whether the PSU can
issue shares to the employees of its subsidiaries at the time
of disinvestment and the Initial Public Offer.
Coal India and telecoms firm BSNL are the prime candidates to list on Indian bourses under the government`s new rules for selling stakes in state firms, but valuations will have to be tempered to attract investors.
The country`s largest coal producer, Coal India, Monday said 52 global companies have expressed interest in partnering with it for acquiring mines overseas, especially in Australia, Mozambique and Indonesia.
The govt is planning to increase its disinvestment target in Coal India from 10% proposed earlier to 15% as it wants to put a sizeable number of shares in the market and also offer them to employees and farmers displaced by mines.