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Wednesday, August 03, 2011
Coal India to invest in mining projects
Coal India (CIL) is likely to invest about Rs 28,000 crore in 68 mining projects having a production capacity of about 230 million tonnes per annum, Parliament was informed today.
"The estimated investment likely to be made in CIL and its subsidiaries for the purpose is Rs 27,946.42 crore and it would be mobilised from internal sources of the company," State Minister for Coal Pratik Prakashbapu Patil said in written reply in Lok Sabha.
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Indiainfoline NCDs open for subscription
The NCDs proposed under this Issue have been rated ‘[ICRA]AA- (stable)’ by ICRA, and ‘CARE AA-' by CARE.
There are three investment options.
Option I (Annual interest payment): The redemption date or maturity period is 36 months from the deemed date of allotment and the coupon rate is 11.7% p.a. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption.
Option II:. NCDs will be redeemed at Rs 1,446 at the end of 40 months from the deemed date of allotment with an effective yield of 11.70% per anum.
Option III (Annual interest payment): The redemption date or maturity period is 60 months from the deemed date of allotment. The coupon rate is 11.9% per annum for Category III investors and 11.7% per annum for others. The interest payment is annual and the face value plus any interest that may have accrued is payable on redemption.
Pay more for LPG if you earn more than 6L
The government should end subsidised domestic cooking gas (LPG) for people with income of more than Rs 6 lakh per annum, a Parliamentary Panel has suggested.
A 14.2-kg LPG cylinder in Delhi currently costs Rs 395.35. This is Rs 247 short of its market price. If the panel recommendation is accepted, people with more than Rs 6 lakh per annum household income will have to pay Rs 642.35 per bottle.
"...to offset the huge losses made on account of subsidised domestic LPG cylinders, the Government may consider to do away with providing subsidised LPG to rich and affluent people having an income of more than Rs 6 lakh per annum", it said.
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Gold prices soar
Gold prices soared further to attain yet another historic high at the domestic bullion market here today on hectic stockists and investment-driven buying fuelled by global bullishness.
Silver too witnessed a sharp spike to revisit its 3-month high on strong speculative build up amidst rising industrial demand.
Standard gold (99.5 purity) rallied by Rs 580 per 10 grams to end at Rs 23,955 from Tuesday's close of Rs 23,375.
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Sensex sags on overseas woes…Nifty holds 5400
Sensex ended at 17,945 losing 169 points. Nifty closed at 5,404 losing 52 points.
The Indian markets have been a bit volatile in the week so far, but the overall bias has been negative owing to the weak global backdrop. The key Indian indices today fell for the second straight trading session with the BSE Sensex dropping below 18,000. But the NSE Nifty managed to end above 5400.
BSE Bulk Deals to Watch - Aug 3 2011
Deal Date Scrip Code Company Client Name Deal Type * Quantity Price **
3/8/2011 590006 Amrutanjan Health-$ CROSSEAS CAPITAL SERVICES PRIVATE LIMITED B 48444 926.29
3/8/2011 590006 Amrutanjan Health-$ A K G SECURITIES AND CONSULTANCY LTD B 55881 926.13
3/8/2011 590006 Amrutanjan Health-$ CHANDARANA INTERMEDIARIES BROKERS PRIVATE LIMITED B 32041 922.79
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