Fri, Sep 3, 2021 7:08 PM
HFCL to lift ₹750 cr through share sale
NMDC’s 3 mtpa greenfield steel plant at Nagarnar in Chhattisgarh is expected to be commissioned towards the end of September. The facility by the state-run Company is already witnessing a delay of almost 7 years. Notably, NMDC spent Rs 20,240 cr as of May 2022 for the plant. The state-run firm is likely to spend another Rs 1,700 cr, and the project reported a cost overrun of around Rs 7,000 cr.
Open Flip
The power and the coal ministry announced that during the upcoming monsoon the coal supplies to the power plants may not witness a crisis with power plants building up inventories. This was declared, despite 91 out of India's total 173 thermal power stations reporting coal stocks in a critical situation. Among these 91 plants, 8 are non-operational and 8 depend on imported coal for operation.
Open Flip
Five crucial bidders for Reliance Capital’s assets have exited the race. Currently, barely 5 active bidders, including Piramal Enterprises, are actively pursuing the process. This is in contrast to the nearly 54 EoIs the firm had received in March. Blackstone, HDFC Ergo, insurance firms of ICICI Lombard and Tata group, and Adani Group are the latest companies to pull out of the process.
Open Flip
