Nine coal blocks that the government had offered in two tranches with approval to sell their entire production have found only three public sector companies interested in two assets and no takers for the rest. This was the first time that the government offered blocks to state-run non-coal companies for selling 100% output in the open market.
Jharkhand State Mineral Development Corporation showed interest in the Sugia Closed Mine under the seventh tranche and, along with NMDC Ltd and Madhya Pradesh State Mining Corporation, it also aimed for the Tokisud North, a Schedule-II mine. All eight assets on offer in the seventh tranche are Schedule-I blocks.
The rupee appreciated by 16 paise to 70.65 against the US dollar in early trade on Monday (November 4, 2019) as easing crude prices and sustained foreign fund inflows strengthened investor sentiments. A higher opening in the domestic equity market and hopes for a US-China trade deal may have also supported the local currency, market sources said.
According to a PropEquity report, housing sales declined by 9.5% during July-September period across nine major cities to 52,855 units on low demand as economic slowdown and liquidity crisis weighed on buyer sentiment.