Coal news and updates

Revitalising the infrastructure sector, and energy security will be key challenges before the next government, feels Deepak Parekh, chairman Housing Development Finance Corporation. Speaking at the India Economic Convention 2014 in New Delhi, Parekh said the country’s infrastructure story has derailed. He said the banking sector was under tremendous stress due to non-performing assets, with 11 banks having NPAs of around Rs 4 lakh crore. He said the provision of Rs 11,200 crore for PSU bank recapitalization in the Budget was inadequate, and that the banking sector could not finance infrastructure. On coal, Parekh was of the view that the government’s monopoly on the mineral had to be broken, and that privatization of the sector was a must. Without that, coal imports would be a huge drag on the economy, he said. Parekh was also in favour of the Railways being corporatised, and said there was a need for better inter-ministerial co-ordination for speedier decision making. He said India needed to rank higher on ease of doing of business, and there was a need for clear and transparent policies. Coal India stock price On February 28, 2014, at 13:47 hrs Coal India was quoting at Rs 244.00, up Rs 0.40, or 0.16 percent. The 52-week high of the share was Rs 330.65 and the 52-week low was Rs 238.35. The company's trailing 12-month (TTM) EPS was at Rs 26.41 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 9.24. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company is 7.51.

 

Source: Moneycontrol.com