KOLKATA: Coal India hopes to increase sales from supply contracts that will be auctioned to power plants, which will help reverse sluggish sales.

“A 1,000 MW power plant requires around 4.5 million tonnes of coal a year. If we are able to supply coal to these plants that do not have any contract, sales could rise by about 200 million tonnes,” a company executive said.

Bajaj Auto sold 11% less vehicles in the month of March this year compared to the same period in 2016. According to a statement from the company, it sole 2,72,197 units in March 2017.

The sale of motorcycles (domestic and exports) was down 8% while the sales of commercial vechiles (domestic and exports) was down 33%.

The BSE Sensex recovered by over 157 points and the Nifty scaled a record high in early trade on widespread buying by investors and funds, triggered by a firm trend in Asian markets.

On the first trading day of the new quarter, the 30-share index rose 157.97 points, or 0.53%, to 29,778.47, with sectoral indices auto, bank, oil&gas, consumer durables and capital goods advancing by up to 0.71%.

Reliance Industries (RIL) gained nearly 5% to Rs 1,380, its fresh 9-year high on the BSE in intra-day trade, after Reliance Jio Infocomm (Jio), a subsidiary of RIL, on Friday said it had notched an unprecedented 72 million paid subscribers, and extended by a fortnight its deadline for migrating other subscribers to its paid offer.

“In just one month, over 72 million (and still counting!) Jio customers have signed up for JIO PRIME, making it one of the most successful customer privilege programmes anywhere in the world,” RIL said in a press release.

Ford India on Saturday reported a 17.14 per cent increase in total sales at 24,832 units in March this year.

The company had sold 21,198 vehicles in the corresponding month last year, Ford India said in a statement.

Hyundai Motor India Ltd (HMIL) on Saturday reported a 8 per cent increase in total sales at 55,614 units in March this year.

The company had sold 51,452 units in March 2016, HMIL said in a statement.

New Delhi: Nearly 58 lakh people Employees Provident Fund (EPF) pensioners will now get medical benefits, labour minister Bandaru Dattatreya said in the Lok Sabha on Friday.

“Regarding the pensioners, we are going to give the pensioners benefit under the ESIC (Employees State Insurance Corporation) to those who are retired pensioners. We will be providing all medical services to the retired pensioners. 58 lakh pensioners will be benefited,” he said.

To safeguard investors’ interest, Sebi today asked credit rating agencies to give a 30-day notice before withdrawal of ratings in case of open-ended mutual funds, even as it relaxed various disclosure norms for the CRAs. The decision has been taken in consultation with (credit rating agencies (CRAs) and representations received from the industry. Sebi said withdrawal of rating of is permitted in case of open ended mutual fund scheme, being perpetual in nature and having no specified maturity. Besides, such facilities are allowed in bank loans.

With nearly 50 companies launching buyback offers, shares worth R34,468 crore were bought back in 2016-17, the highest in 19 years. IT major Wipro effected the biggest buyback by a private sector firm buying shares worth R2,500 crore in June 2016. The government chose to tap cash-rich PSUs to meet its divestment target and took back as much as R18,964 crore via buybacks. At R7,519 crore, NMDC’s buyback offer was the biggest. Other PSUs that bought back shares included MOIL, Nalco, NMDC, Coal India, Bharat Electronics, Coal India, NHPC and NLC.

State-run NTPC has crossed the milestone of 50 GW power generation capacity which will help the country realise the goal of power for all. Lauding the company’s efforts, Power Minister Piyush Goyal tweeted, “Proud to announce that NTPC has crossed 50,000 MW of installed power generation capacity today. Another milestone towards 24X7 power for all.” According to a company statement, with commissioning of 500 MW unit at Unchahar in Uttar Pradesh, the total installed capacity of NTPC has increased to 50,498 MW. In FY17, NTPC’s annual generation topped 250 BU (billion units).

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