Three dozen companies have emerged as prospective bidders in the current round of
auctions for 27 coal blocks, from which 25% of the produce can be sold in the open
market. These companies include Vedanta, Tata Steel, Ultra Tech Cement, Balco,
Ambuja Cements, JSW Steel, Hindalco, Birla Corp, ACC Cement and Reliance
The coal ministry, which is conducting road shows in various cities, has prepared a list
of prospective bidders for its 8th, 9th and 10th Tranches of auction.
At a meeting called by the Coal Ministry for the potential bidders, stakeholders, for next
round of coal auctions, bidders have expressed concern over the lower number of coal
mines being put up for auction in the Eastern part of the country. They also pointed out
that the end-use industries (coal consumers) are in the East, but a majority of the
blocks on offer are in the Western part, specifically Maharashtra.
Sical Logistics Ltd a Coffee Day Group company that runs port terminals and container
freight stations is likely to see bidding by JSW Group and Adani Group, sources close
to the development reported media. The Dubai government-owned DP World, a
container major, too, has shown interest, the sources said.
Sical also has a category 1 license from the Indian Railways that permits it to run
container trains across India. Apart from port terminals and container train operations,
Sical has interests in mining, road transport, inland container depot, warehousing and
shipping. It also provides offshore support services to the oil and gas industry and owns
and operates a cutter suction dredger.
In an indication of continued concerns for the NBFC sector, India Ratings on Monday
revised its outlook for the non-banking finance companies to negative from stable and
also maintained its negative outlook on large ticket housing finance companies (HFCs).
The agency also cut its growth forecast for NBFCs for 2019-20 to 10% to 12% from the
earlier estimate of 15% due to funding challenges and slowdown in economic activity,
which is evident from the fall in auto sales, slowdown in rural infra activity and small
and medium enterprises (SME) challenges. It also said that measure announced by the
government to improve liquidity for the sector are likely to play out over the medium-to-
The NBFC and HFC sector has been in the midst of a financial crisis for a year now
and the Reserve Bank of India and the Finance Ministry have announced a slew of
measures to improve funding to them. NBFCs focussed on retail asset financing with
long track records have been able to mobilise funding owing to the granular nature of
their loan books and the control they have exhibited in maintaining asset quality, India
It however, cautioned that wholesale and semi-wholesale NBFCs in real estate,
corporate lending and large ticket housing segment have seen challenges in mobilising
liabilities, largely because of the asset-side perception risk arising from the slowdown in
real estate and moderation in refinancing opportunities.
Terming the revision of power purchase agreements (PPAs) for wind and solar plants in
Andhra Pradesh as “unfortunate”, Union Power Minister Mr RK Singh on Monday said
foreign investments have been coming in the country’s renewable energy sector on the faith of sanctity of contracts.
The Andhra Pradesh government had formed a committee to revise “abnormally priced
wind and solar” PPAs, these might have been inked with “malafide intentions and could
have resulted in unjustified burden on consumers of the state.”
While addressing the media in Hyderabad about the achievements of the government
in the first 100 days, Mr Singh said that If there is any concrete and specific evidence of
illegality, go ahead and take action as per law but contracts cannot be re-opened
across the board.