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Coal India has issued LoAs for seven coal projects to be pursued through the mine developers and operators model.
The projects have a production capacity of close to 100 million tonne per year cumulatively.
Coal India is tracking 15 greenfield coal projects through MDOs.
Company’s investment in MDO projects seen at Rs 20,600 crore.
Source: Exchange filing
WPI inflations falls to 5.85% in November 2022 compared to 8.39% in October.
Source: Office of the Economic Adviser
The government has extended the deadline to submit expressions of interest for a stake in IDBI Bank to January 7.
The earlier date was December 16.
Source: DIPAM notification
Mahindra & Mahindra Ltd.’s investment of Rs 10,000 crore for an electric vehicles manufacturing plant in Pune has been approved.
The investment has been approved under Maharashtra Government’s industrial promotion scheme.
The company will make investments of Rs 10,000 crore over 7-8 years for setting up the facility and production of Mahindra’s EVs.
Source: Exchange filing
HDFC Bank will buy a 7.75% stake in Mintoak for Rs 31.14 crore.
Mintoak is a fintech startup that operates a payments-led platform in India, Kuwait and Mauritius.
Deal expected to be completed by January 31, 2023.
Source: Exchange filing
The broader market indices; S&P BSE MidCap and S&P BSE SmallCap opened on a positive note and traded higher at 0.41% and 0.55%, respectively.
Out of the 19 sectoral indices complied by the BSE, 18 advanced while only S&P BSE Telecommunication declined.
The market breadth was skewed in favour of the bulls. About 1,979 rose, 769 declined and 126 remained unchanged on the BSE.
Source: Bloomberg, Exchanges
IEX says it is now India’s first carbon-neutral power exchange, using market based tradable instruments to offset its carbon emissions.
EKI Energy provided advisory and consultancy services in this climate action exercise.
Source: Exchange filing
Yield on the 10-year bond fell 3bps to 7.23% in early trade.
Source: Bloomberg
Indian currency appreciated 20 paise to 82.60 at the open against the greenback on Wednesday. It closed at 82.80 on Tuesday.
Source: Bloomberg
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