DNA: JSPL, Usha Martin shares fall on coal block allocations order

Shares of Jindal Steel and Power Ltd fell as much as 15.7% to Rs.248.15, Hindalco Industries Ltd fell 11.7% to Rs.160.8, Sesa Sterlite Ltd fell 4.5% to Rs.278.60, Tata Steel Ltd fell 5.2% to Rs.509.55.

SC cancels 214 coal blocks allocation; Hindalco, JSPL shares fall

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.

CBI questions former coal secretary Parakh

Former coal secretary P.C. Parakh appeared before officials of the Central Bureau of Investigation (CBI) on THursday for questioning in connection with a case of allegedly abusing his official position to grant an Odisha-based coal block to Hindalco.

CBI unprofessional and under-equipped: PC Parakh

Former Coal Secretary PC Parakh, booked for allegedly abusing his official position to grant a coal block to Hindalco, on Saturday accused the CBI of being "unprofessional and under-equipped".

Ex-Coal Secretary PC Parakh accuses CBI of `witch hunt` against him

Former Coal Secretary PC Parakh, against whom the CBI has registered a case for allegedly favoring Hindalco in coal block at Odisha, has accused CBI Director Ranjit Sinha of having acted against him to impress the Supreme Court.

Faced with controversies, Odisha halts coal block allocations

Odisha has decided to halt process of allocating coal blocks in the state given the controversey this has generated in the past, senior official of the state`s steel and mines department said Monday.

BJP, Left doubt PM will appear before CBI

Shortly after PM Manmohan Singh said he was open to questioning by CBI on coal allocation issue, opposition expressed doubt over statement and demanded coal allocations done under him be examined.

PM `absolutely right` in allocating mine to Hindalco: Montek

Montek Singh Ahluwalia on Monday termed the decision to allot Talabira-II coal mine to Hindalco by the Prime Minister as "absolutely right".

Good that PM explained about block allocation to Hindalco: BJP

BJP welcomed PMO`s explanation that PM Manmohan Singh approved coal block to Kumar Mangalam Birla`s Hindalco and asked him to clear air on other allocations done when he held the coal portfolio.

CBI should probe into Naveen Patnaik`s bauxite mines recommendation: Jena

Union Minister and Congress leader Srikant Jena on Sunday demanded a CBI probe into Odisha Chief Minister Naveen Patnaik`s recommendation for bauxite mines for the Aditya Birla Group.

Coal blocks allocation scam: Odisha govt justifies Naveen Patnaik`s letter

Claiming that CM Naveen Patnaik has done nothing wrong by urging PM Manmohan Singh to examine Hindalco`s plea for a coal block, Odisha minister accused Congress of `disinformation campaign`.

Coalgate: Parakh failed to explain reasons for reversing decision

Former Coal Secretary PC Parakh failed to explain reasons for allotting coal block to Hindalco after rejecting CBI claimed amid indications fresh cases will be registered in connection with Coalgate.

BJP asks Naveen why he selectively recommended Hindalco

With Odisha Chief Minister`s letter to the Prime Minister about coal block allocation coming under the CBI scanner, the BJP demanded why he had `selectively recommended` the case of Hindalco giving it `preferential treatment`.

Coalgate: Odisha CM Naveen Patnaik defends his letter to PM; CBI may question him

Odisha Chief Minister Naveen Patnaik defended himself on Thursday saying that his letter to the Centre in 2005 was only to examine the request of Hindalco and nothing more.

Hindalco closes QIP issue, fixes Rs 130.90 as issue price

Hindalco Industries Ltd, the flagship company of the Aditya Birla Group, Friday said it has fixed Rs 130.90 a piece as the issue price for qualified institutional placement (QIP) of its equity shares.

Hindalco raises Rs 2,900 cr from QIBs

Hindalco Industries has raised about Rs 2,900 crore through private placement of shares to qualified buyers to part-finance its expansion projects.

Hindalco gets shareholders nod for raising Rs 2,900 cr

Hindalco Industries Ltd, the metals
flagship company of the Aditya Birla Group, on Tuesday said it has
received approval from its shareholders for raising funds up
to Rs 2,900 crore through issuing securities.

Production from Hindalco`s new facilities may start by FY 11

Expansion projects of aluminium major Hindalco Industries are on track and production is expected to start by FY 11, a top company official said.

Hindalco Ind increases fund-raising size to Rs 2,900 cr

Aditya Birla group flagship company Hindalco Industries Thursday said its board has increased the size of fund-raising plan by Rs 500 crore to Rs 2,900 crore.

Hindalco gets shareholders nod for raising Rs 2,400 cr

Aditya Birla group company Hindalco Industries Ltd on Monday said its shareholders have approved the raising of funds up to Rs 2,400 crore by issuing securities in the domestic or international markets.