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Govt receives Rs 2,638 crore from CIL share buyback

Govt receives Rs 2,638 crore from CIL share buyback

The government has garnered about Rs 2,638 crore from buyback of shares of state-run Coal India Ltd, Parliament has been informed. CIL has bought back “7,88,42,816 shares from Government of India out of the total offer of 10,89,55,223 equity shares @ Rs 335 per equity shares.

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Coal India sells linkages

Coal India sells linkages

Coal India, the Indian coal behemoth, has ended up selling most of the linkages offered to captive power producers. These linkages are critical as they act like long-term assurance for supplies.

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We are mechanising all our mines for better turnaround time

We are mechanising all our mines for better turnaround time

The Ministry of Coal (MoC) is targeting coal production of 1.5 billion tonnes. Of this one billion tonnes will come from Coal India Limited (CIL) and the remaining 500 million tonnes will come from non-CIL sources, particularly from the mines that are presently being auctioned or allocated to non-Coal India entities.

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CIL, SCCL earn Rs.30,000 cr

CIL, SCCL earn Rs.30,000 cr

The state-owned CIL and Singareni Collieries Company (SCCL) have earned incremental revenues of around Rs.30,000 crore through e-auction, Mjunction Services, a JV between Tata Steel and SAIL that pioneers in e-auction services, said.

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Power Play

Power Play

The power sector had been facing serious challenges over the past few years. The key issues pertain to shortfall in supply of coal and gas, delay in clearances for projects and the declining financial health of electricity distribution utilities.

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