Improved offtake from power sector crucial for driving Coal India s volumes
Coal India has committed significant capex for pushing up production. Photo: BloombergPremium
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Coal India Ltd, which had seen some uptick in sales volumes during the last few months, has failed to impress the Street with its December sales numbers. Sales volumes declined 2.1% year-on-year, albeit on a high base.
The power sector demand revival holds key for driving sales, say analysts. Coal India under Fuel Supply Agreements (FSA) supplies most of its produce to thermal plant capacities.
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Iron ore integration to help drive Tata Steel’s prospects
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With not much pressure on costs, the company’s operating performance is to continue improving and is expected to see regular improvement in per tonne profits.
(Bloomberg)
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Tata Steel that was among the largest gainers in the Nifty stocks also touched fresh 52-week high on Thursday. With rising steel demand and realizations in the country, street sentiments remain upbeat on the company that is an integrated steel manufacturer. Having captive supplies of iron ore and coal, the key raw material for steel manufacturing, the company remains insulated from the impact of rising raw material prices. The prices of iron ore in the international arena are near all-time highs. In India, National Mineral Development Corp. Ltd (NMDC), the country’s largest iron ore producer, has raised prices by more than 50% since the beginning of November 2020.
Nifty’s recovery is among the best in Asia despite weak growth data
Currently the Nifty is a tad below the 14,000 mark.
(MINT PRINT)
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The Nifty 50 has made an impressive comeback from its 2020 lows. At the peak of the pandemic in March, the key equity benchmark plunged to the 7,610 level. Rallying more than 80% from there, currently the Nifty is a tad below the 14,000 mark. With that, Indian equities have recorded a faster recovery than some of its Asian peers such as Hong Kong, Indonesia and Malaysia, which have risen between 25% and 35%. Only the South Korean market has outperformed, with a near doubling of its value since March lows.
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