Today Sector News – 26.10.2018
* COAL: The government has allowed captive coal block owners to sell 25% of their production in open market and provided some flexibility in coal output as it kick-started a fresh round of captive coal auctions on Thursday after a gap of about 15 months.
-The Centre has identified nine coal blocks with total reserves of around 2 bln tn that may be auctioned to private players and has also identified another set of nine blocks with total reserves of 1.1 bln tn for allotment to state-owned entities.
* ECONOMY: Finance Minister Arun Jaitley will chair a meeting of the Financial Stability and Development Council on Tuesday, to assess the current macroeconomic situation.
* FINANCE: Edelweiss Financial Services said that the numerical details on its exposure to real estate sector, as per the database maintained by PropStack Services are inaccurate.
* OIL AND GAS: The Directorate General of Hydrocarbons has begun ranking the country's oil and gas fields in a bid to induce competition among its managers and help boost domestic output stagnant for years now.
* RAILWAYS: The Indian Railways is set to bring out a tender to purchase 20 GW solar power in a bid to complete the electrification of the railways, Minister of Railways and Coal Piyush Goyal said.
* STEEL: The promoters of Essar Steel India has proposed to pay 543.89 bln rupees to lenders in order to settle its entire debt, outbidding ArcelorMittal, another contender to acquire the debt-laden company.
-The bid by promoters and shareholders of Essar Steel India to take the company out of corporate
insolvency resolution process by offering to repay entire admitted claims of financial and operational creditors, workmen and staff of the company is invalid, ArcelorMittal S.A. said.
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-The Centre has identified nine coal blocks with total reserves of around 2 bln tn that may be auctioned to private players and has also identified another set of nine blocks with total reserves of 1.1 bln tn for allotment to state-owned entities.
* ECONOMY: Finance Minister Arun Jaitley will chair a meeting of the Financial Stability and Development Council on Tuesday, to assess the current macroeconomic situation.
* FINANCE: Edelweiss Financial Services said that the numerical details on its exposure to real estate sector, as per the database maintained by PropStack Services are inaccurate.
* OIL AND GAS: The Directorate General of Hydrocarbons has begun ranking the country's oil and gas fields in a bid to induce competition among its managers and help boost domestic output stagnant for years now.
* RAILWAYS: The Indian Railways is set to bring out a tender to purchase 20 GW solar power in a bid to complete the electrification of the railways, Minister of Railways and Coal Piyush Goyal said.
* STEEL: The promoters of Essar Steel India has proposed to pay 543.89 bln rupees to lenders in order to settle its entire debt, outbidding ArcelorMittal, another contender to acquire the debt-laden company.
-The bid by promoters and shareholders of Essar Steel India to take the company out of corporate
insolvency resolution process by offering to repay entire admitted claims of financial and operational creditors, workmen and staff of the company is invalid, ArcelorMittal S.A. said.
