Tata Power plans to raise $450 million by issuing corporate hybrid securities, revising its target upwards from $300-400 million, and may be used for securing long-term coal supplies and repaying debt.
ONGC is considering fresh strategies for coal bed methane (CBM) development, nearly two decades after initiating exploration and spending hundreds of crores in largely unsuccessful attempts to bring the assets into production.
The coal ministry has objecÂted to a proposal to make it mandatory for mining firms to contribute a portion of their profits towards local area develÂopment, as it will erode valuaÂtion of firms and dampen invesÂtor sentiment.
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