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Power, coal ministries to speed up NTPC coal blocks re-allocation

The government has decided to re-allocate three coal blocks—Chatti-Bariatu, Kerandari and Chatti-Bariatu (South)—to NTPC but all the necessary clearances are not in place

New Delhi: The power ministry is in constant touch with coal ministry to speed up the re-allocation of three mines to NTPC, which would boost the power producer’s valuation ahead of its Rs12,000 crore disinvestment this fiscal, reports PTI.

 

The government has decided to re-allocate three coal blocks—Chatti-Bariatu, Kerandari and Chatti-Bariatu (South)—to NTPC but all the necessary clearances are not in place.

 

“We are in constant talks with the coal ministry to speed up the re-allocation of coal mines to NTPC,” power secretary P Uma Shankar told PTI.

 

He did not share specific details.

 

Re-allocation of the coal blocks would boost the overall market valuation of NTPC, which is grappling with fuel shortages. Better share prices, during disinvestment, would in turn help in fetching higher returns for the government, which is hard-pressed for resources.

 

“The re-allocation (of coal mines) will improve NTPC’s valuation,” Shankar said.

 

The three blocks were taken back from NTPC by the coal ministry citing long delays in developing them.

 

Last month, a power ministry official had said that preparations for NTPC share sale would start only when the three coal blocks are re-allocated.

 

Power minister Jyotiraditya Scindia, last month, had said the coal blocks would be re-allocated at the earliest.

 

In November 2012, the Cabinet Committee on Economic Affairs had approved NTPC stake sale.

 

The country's largest power producer NTPC became public with its initial public offering hitting the market in 2004.

 

Thereafter in 2009, the government further diluted its stake in the company through a Follow-on Public Offer (FPO).

 

Government holds 84.50% in NTPC, a ‘Maharatna’ company, which has a capacity of 39,674 MW—roughly one-fifth of country's current installed generation capacity.

 

So far this fiscal, the government has mopped up over Rs6,900 crore through disinvestments in public sector companies.

 

It has set a target of raising Rs30,000 crore in the financial year ending March 2013.

User

COMMENTS

Dev

4 years ago

A ‘Maharatna’ company which has a capacity of 39,674 MW—roughly one-fifth of country's current installed generation capacity. Then why its shares are dead shares in the stock market? Is it only because of the issues of coal block allocation? Will it become a blue chip stock one day?

IIP contracts by 0.1% in November, may prompt RBI to cut rates

The decline in industrial output, as measured by the Index of Industrial Production may prompt the Reserve Bank to consider rate cut in its quarterly review on 29th January to boost growth

New Delhi: Dashing hopes of a rebound, the industrial output contracted to a four-month low of -0.1% in November due to poor performance of manufacturing and mining sectors and decline in production of capital goods, reports PTI.

 

The industrial output, as measured by the Index of Industrial Production (IIP) dipped from a robust 8.3% in October. The decline may prompt the Reserve Bank to consider rate cut in its quarterly review on 29th January to boost growth.

 

The industrial output had grown by 6% in November 2011. Meanwhile, in July 2012 it showed a contraction of 0.1%.

 

Factory output growth was 1% in April-November period this fiscal, down from 3.8% in the same period in 2011-12, according to official data released.

 

Meanwhile, the growth in the industrial production during October last year was revised upward to 8.3%, from earlier provisional estimates of 8.2% released last month—highest in previous 16 months.

 

The manufacturing sector, which constitutes over 75% of the index, grew by meagre 0.3% in November in 2012, as against a 6.6% in 2011.

 

The output of the key sector remained low at 1% in April-November last year as against 4.2% growth in the same period in 2011.

 

The mining output in November contracted by 5.5% compared to a decline in production by 3.5% in same month in 2011. The sector’s production in April-November declined by 1.5% against a contraction of 2.4% in the year-ago period.

 

Capital goods output declined by 7.7% in November, as against a contraction of 4.7% in the same month in 2011.

 

The output of capital goods also contracted in the April-November period by 11.1%, as against a dip in production by 0.1% in the 2011-12 period.

 

Power generation grew by 2.4% in November, as against 14.6% in same month in 2011. The electricity generation in the April-November period this fiscal is 4.4%, as against 9.5% in a year-ago period.

 

Consumer goods output growth was 1% in November as against 12.8%. In the April-November period of this fiscal, the growth in consumer goods was 3.8% as compared to 5% in the same period of 2011-12.

 

The growth in output of consumer durables is 1.9% in November, as compared to double digit growth of 10.4% in the same month in 2011. The growth in the output of these goods remained flat at 5.2% in April-November this fiscal.

 

The consumer non-durables output growth was 0.3% in November, as against a 15% in the year-ago period.

 

This segment grew by 2.5% in the eight month period of this fiscal, as against 4.9% in the same period of 2011-12.

 

The basic goods production growth was 1.7% in November, compared to 6.5% the year-ago period.

 

During the April-November period, this segment recorded a growth of 2.8%, compared to 6.3% in the first eight months of last fiscal.

 

The intermediate goods output declined by 1.1% in November as compared to a growth of 1.3% in the same month in 2011. During the April-November period this fiscal, growth in the output of these goods was 1.8% compared to a contraction of 0.6% in the eight month period a year ago.

 

In terms of industries, 13 out of 22 groups in the manufacturing sector have shown negative growth in November, 2012 as compared to the same month in 2011.

 

The industry group publishing, printing and reproduction of recorded media has shown the highest contraction of 22.1%, followed by 21.8% in office, accounting and computing machinery and 18.9% in wood, products of wood and cork, except furniture.

 

On the other hand, the industry group electrical machinery and apparatus has shown a positive growth of 25.1%, followed by 15.7% in luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products and 15.3% in radio, TV and communication equipment and apparatus.

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