• Coal India (CIL) has decided to go for an open tender for appointing a merchant banker to acquire coking coal assets in Australia, following a pre-notice inviting tender (NIT) meeting.
  • According to ICRA, the top 10 listed entities, including Ashiana Housing, Brigade Enterprises, DLF sell nearly 32.19 million sqft, registering a robust 44% growth over the previous year. Also, due to liquidity crunch the sector has been going through a phase of consolidation
  • Mr Manoj Kumar Prasad has taken charge as the Director (Technical) in South Eastern Coalfields Limited on June 18.
  • Citing headwinds for exports amidst challenging trade outlook, DBS Bank has revised India’s GDP growth for fiscal year 2020 downwards to 6.8% year-on-year from 7% projected earlier.
  • Inflation is expected to remain sub-target in FY20 at 3.8% YoY over 3.4% in FY19.
  • Iron ore price has shot up by more than half since the beginning of the year 2019, while price of imported coking coal has also remained upward. The combined movements of the raw material and a liquidity crunch in the market has affected demand while more than half a million tonne of steel import has significantly affected the domestic demand.
  • The National Highways Authority of India (NHAI) plans to find a new operator for the Mumbai-Pune Expressway toll contract for renewal, since the agreement with IRB Infrastructure Developers set to end in August 2019. IRB had secured 15-year toll rights for Rs 918 crore in 2004.
  • NHAI expects Rs 7,000-8,000 crore payment in re bid.
  • Mumbai-Pune Expressway, india’s first 6-lane, concrete, high speed, access controlled tolled expressway was fully operational in 2002, stretches 93 km between Mumbai and Pune.
  • ICRA estimates a double-digit toll growth in FY20.