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Investor conclave for Opportunities in Coal Sector

Newsmantra — Fri, 02 Dec 2022 06:11:47 +0000

The Ministry of Coal and Ministry of Mines jointly organized investor conclave in Mumbai where Union Minister of Coal, Mines and Parliamentary Affairs, Shri Pralhad Joshi was the Chair, Chief Minister of Maharashtra, Shri Eknath Shinde was the Chief Guest, Minister of State for Coal, Mines and Railways, Shri Raosaheb Patil Danve and Minister of Mining for Maharashra, Shri Dadaji Bhuse were the Guests of Honour for the event.

Ministry of Coal has completed the successful auction of 64 coal mines in the first five tranches and has launched the process for auction of 133 coal mines under 6th round of commercial auctions and 8 coal mines under 2nd attempt of 5th tranche of commercial auctions where single bids were received in the first attempt on November 03, 2022.

Additional Secretary & Nominated Authority, Mr. M. Nagaraju welcomed all the investors and informed the forum about the coal reforms undertaken by Ministry of Coal to improve the attractiveness of the coal auction process and make it more investor friendly. Mr. Amrit Lal Meena, Secretary, Ministry of Coal reiterated the commitment of Ministry of Coal in supporting the coal industry and informed that Ministry of Coal is there to extend any help required by the prospective bidders. He also emphasised that the investors should participate in the coal mine auctions as coal mining business is highly profitable which can be seen from the coal mines which have started coal production under commercial mining.

Shri Vivek Bharadwaj, Secretary , Mines welcomed all the investors and emphasized on exploration and production of minerals beyond iron ore, coal, bauxite and limestone. He emphasized on exploration of critical minerals such as palladium, tantalum and lithium etc., which are used in electronics, telecommunication and green energy.

Shri Raosaheb Patil Danve stated that the Ministry of Coal has transformed the entire auction process of coal mines under the guidance of Prime Minister, Shri Narendra Modi and informed that while ~70% of the power is generated through coal in India, the ministry has also taken various initiatives to reduce carbon footprint considering the environmental impact of coal mining. Shri Pralhad Joshi reaffirmed that the usage of coal is going to stay at least for the next 25-30 years and that India is currently having very low per capita consumption of power as compared to some of the other developed economies in the world and it is estimated that the per capita consumption is going to double by 2040 for which coal is the necessity. The focus of the present government under the guidance of Prime Minister, Shri Narendra Modi is to become net zero carbon emission country by adopting better technological processes. Shri Eknath Shinde ensured that the Government of Maharashtra will actively participate in ensuring timely exploration, auction and operationalisation of the coal mines and ensured full cooperation from the Government of Maharashtra in expanding coal mining related activities in the state.

Mr. Manoj Kumar, CMD, CMPDIL gave a presentation on the technical details of the coal blocks being offered in the largest ever auction process, Mr. Chiranjib Patra, GM, CMPDIL presented on the investment opportunities in the MDO sector and Mr. Shubham Goel, Vice President, SBI Capital Markets delivered a presentation on the terms and conditions of the auction process.

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Bajaj Finance among top 10 on BSE

Newsmantra — Mon, 17 Feb 2020 05:52:12 +0000

Bajaj Finance Ltd on Monday replaced State Bank of India to become India’s tenth most-valued firm by market capitalisation on the BSE.

According to the BSE, Bajaj Finance’s market capitalization stood at ₹2.87 trillion, with its shares trading at ₹4,773.85 on the BSE. The finance company’s shares have risen nearly 12% so far this year.

State Bank of India has a market cap of ₹2.81 trillion. Currently, Reliance Industries Ltd is the country’s most valued company with a market cap of ₹9.48 trillion, followed by Tata Consultancy Services Ltd ( ₹8.26 trillion) and HDFC Bank Ltd ( ₹6.73 trillion).

Hindustan Unilever Ltd is number four ( ₹4.95 trillion), followed by HDFC Ltd ( ₹4.12 trillion),Infosys Ltd( ₹3.36 trillion), ICICI Bank Ltd ( ₹3.50 trillion), Kotak Mahindra Bank Ltd ( ₹3.23 trillion), and Bharti Airtel Ltd ( ₹3.07 trillion).

Despite the slowdown in consumer spending, Bajaj Finance has reported strong earnings consistently and analysts said this is a clear indication of the company’s resilient business model.

Analysts gave a thumbs-up to the finance company’s portfolio granularity strategy across products and geographic locations and its capacity to absorb higher provisions. They believe the firm will continue on its high double-digit growth trajectory.

“Overall, we remain optimistic about BFL’s growth prospects on both topline and earnings front supported by a wide and strong customer franchise (40.38 mn customer base; 65-70% of new loans generated from existing customers), unique market positioning in India with an expanding retail franchise and distribution reach, a well capitalized balance sheet, and sound ROE profile (>20%)” said KR Choksey in a report.

SBI stock has fallen nearly 4% in the last two sessions on concerns over its asset quality after the Supreme Court rejected Vodafone Idea and Bharti Airtel’s plea seeking to negotiate payment schedule in AGR case. SBI has around ₹11,200 crore exposure to Vodafone Idea. So far this year, the stock has declined nearly 5.3%.

Investor sentiment was also hit after recent December quarter earnings of SBI showed a sharp rise in slippages. The lender reported slippages of ₹16,525 crore versus ₹8,800 crore in the second quarter led by non-performing asset recognition of housing finance account. Corporate slippage came in higher at ₹9,467 crore against ₹3,239 crore quarter on quarter.

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Renewable Energy Investor’s Meet organized by Railways

Newsmantra — Thu, 16 Jan 2020 07:18:41 +0000

Indian Railways and Railway Energy Management Company Ltd. (REMCL – a Joint Venture of Ministry of Railways & RITES Ltd.) organized a Renewable Energy Investors’ Meet in New Delhi. The objective of the Investors’ Meet was to disseminate information about the opportunities available under renewable energy in Indian Railways. In the meet, experience of developers with Railways and key benefits of partnering with Indian Railways was showcased.

The Investors’ Meet was attended by leading financers and institutions including Department for International Development, Government of United Kingdom (DFID), Asian Development Bank (ADB), GIZ from Germany, AFD from France, Indian Renewable Energy Development Agency Limited (IREDA), State Bank of India (SBI), Punjab National Bank (PNB) as well as leading renewable energy organizations such as Softbank Energy, L&T, Renew Power, Sembcorp, Amplus Solar, SunEdison and Gensol. They shared their expectations of being partners in the journey of renewable energy of Indian Railways. The investors acknowledged the efforts of Indian Railways in leading the development of renewable energy in the country and expressed strong support to Indian Railways on the path of going green and achieving the net zero carbon emissions target by 2030.

The meet was chaired by Member Traction, Railway Board, Shri Rajesh Tiwari. In the meet, Shri Tiwari gave an overview of Railways’ power scenario and the opportunities for various stake holders in the renewable energy sector. Shri Tiwari mentioned about the steps being undertaken by Indian Railways to reduce the cost of power procurement and the benefits of signing PPAs with Indian Railways such as low off take risk and clarity on roof rights.

Chairman, REMCL, Shri Rajeev Mehrotra, CEO, REMCL, Shri Sudhir Kumar Saxena, Additional Member, Electrical, Smt. Manju Gupta and other senior officials of Railway Board were also present during the meet.
Indian Railways has recently invited bids for 47 MW rooftop solar projects and 249 MW of wind solar hybrid projects. This meet was supported under the Power Sector Reforms Programme, as a part of cooperation agreed in the MoU signed between UK’s DFID and Indian Railways on 2nd December 2019.

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