Gold
Relief for Buyers as NCLT Approves Withdrawal of Insolvency
CIL urged to prioritise coal production to reduce imports: Minister G Kishan Reddy
Union Minister G Kishan Reddy has called on Coal India Limited (CIL) to focus on ramping up domestic coal production and scaling up supply to reduce the country’s dependency on coal imports. CIL, which accounts for over 80% of India's domestic coal output, was highlighted as key to India’s energy security.Speaking on the occasion of CIL’s 50th Foundation Day, Reddy praised the company’s efforts to improve workers' welfare, particularly through the introduction of Performance Linked Incentives for contractual workers, effective FY 2023-24.The launch of commercial coal mining has brought..
Cement manufacturers report margin decline in September quarter amid lower prices
Cement manufacturers have reported a decline in margins during the September quarter, primarily due to lower prices, which led to reduced sales realization. Smaller companies such as Nuvoco Vistas Corp, JK Cement, Birla Corporation, and Heidelberg Cement experienced a drop in both topline and sales volume. However, leading players like UltraTech Cement, Ambuja Cement, and Dalmia Bharat performed better, primarily due to several recent acquisitions that have bolstered their market position.The industry faced challenges, including an extended monsoon, floods, and slow government demand, all of w..
NCLT approves Burnpur Cement's capital reduction scheme
The National Company Law Tribunal (NCLT), Kolkata, has approved Burnpur Cement Limited's scheme for the reduction of capital, as outlined in an exchange filing by the company. The petition was filed under Section 66 of the Companies Act, 2013, in accordance with the National Company Law Tribunal (Procedure for Reduction of Share Capital of Companies) Rules, 2016.The approved scheme involves reducing the company’s issued, subscribed, and paid-up equity share capital from Rs 86.12 crore, divided into 8,61,24,363 equity shares of Rs 10 each, to Rs 17.22 crore, divided into 1,72,24,873 equity sh..
