COAL PRODUCTION DECLINE
Shariah Index: It throws light on the Indian economy and offers many investing lessons, more than the name suggests
Did you know that there are three Shariah law-compliant indices in India? Not surprisingly, these indices do not have companies which have interest as an element of income. Also, they do not have companies from certain sectors. Liquor, for instance. What is not commonly known is that, even if a company's core business is Shariah-compliant, its financial structure must also comply with Shariah rules. And what is surprising is that one of the ratios which Shariah law asks you to look at is the debt-to-asset ratio. But is religion-based investing better than secular investing? Let’s find out.
Coal India shares fall over 3% after decline in February production
Coal India share price: The cumulative coal dispatch during the April-February period rose to 929.41 MT, registering a growth of 5.5% from 880.92 MT produced in the corresponding period of previous year, the ministry said.
Coal India's production drops marginally in February
State-owned Coal India Ltd saw a slight 0.9 percent decrease in coal production this February compared to the same month last year. However, production from April to February rose to 695.3 million tonnes, up from 685.1 million tonnes last year. The government aims to sustain this positive momentum through infrastructure development and operational efficiencies.
Bank lending growth slows to 11% in January, retail loans hit
Bank lending growth saw a significant slowdown in January, dropping to 11% year-on-year from 20% a year ago. However, loans to large industries and medium firms saw increases. Non-food credit, retail loans, and credit to agri also experienced slower growth. In contrast, loans against gold jewelry rose dramatically by 77% year-on-year.
Coal & electricity slow core sector growth to 4.6% in January
India's core sector growth slightly decreased to 4.6% in January from 4.8% in December, primarily due to slower growth in coal and electricity sectors. Cement output surged to a 15-month high. The growth of these eight key industries is crucial since they contribute significantly to the Index of Industrial Production.
Growth in personal loans slows down to 14.2% in Jan: RBI data
Personal loan growth slowed to 14.2% by January 24, 2025, down from 18.2% a year earlier, due to reduced vehicle loans and credit card outstanding, according to RBI data. Non-food bank credit increased 12.5%, marking a three-month high, while credit to agriculture grew by 12.2%. Industry advances rose by 8.2%, driven by sectors like petroleum and chemicals.
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JP Morgan reduces Coal India target price to Rs 395 citing multiple headwinds. Stock down 2%
JPMorgan cut Coal India's target price to Rs 395 from Rs 430, citing weak power demand, oversupply-driven lower coal prices, and rising competition. The stock fell 1.7% post-announcement. Coal India’s Q3 net profit declined 17% YoY to Rs 8,506 crore. The stock has dropped 18.67% in a year.
CIL's subsidiary Western Coalfields bids for 2 coal blocks in 11th tranche of auction
Western Coalfields Ltd, a Coal India subsidiary, bids for two non-coking coal blocks in Maharashtra, marking its first participation in commercial coal block auctions. Winning these blocks could optimize operations with minimal capex. The company's 2025 production is expected to be flat at 69 million tonnes, facing challenges like high stripping ratios and limited reserves.
India's coal imports flat at 201 MT in Apr-Dec period
India's coal imports remained nearly unchanged at 201.30 million tonnes during April-December of the current fiscal year, compared to the same period last year. High domestic coal stocks and lower-than-expected demand contributed to the slight decline in import volumes, even as domestic production increased by 6.11 per cent.
Want to play safe? Stick to these 3 stocks; be selective in pharma: Sudip Bandyopadhyay
Inditrade Capital's Group Chairman, Sudip Bandyopadhyay, suggests investing in large-cap banks like SBI due to their improved asset quality and attractive valuation. He also recommends UltraTech in the cement sector and Bharat Electronics in defense electronics for long-term investments. He highlights the potential in the power sector, auto ancillaries, and selective domestic-focused pharma companies.
LG chief to visit India ahead of IPO, weigh investment options
LG Corp chairman Kwang Mo Koo plans to visit India to finalize the IPO of LG Electronics India, valued at ₹15,000 crore, around April-May. He will also explore new investment opportunities in manufacturing displays and components. This will be the first business trip by LG's top boss in a decade.
Hindalco shares jump 2% after Q3 PAT jumps 60% YoY. Should you buy, sell or hold?
Hindalco reported a 60% YoY growth in consolidated net profit for Q3FY25, reaching Rs 3,735 crore, with a revenue increase of 11%. The company's India business PAT surged 134% YoY, and aluminium upstream EBITDA rose 73%. Analysts maintain positive ratings with target prices of Rs 670 and Rs 800.
Hindalco Industries Q3 Results: Cons PAT jumps 60% YoY to Rs 3,735 crore, revenue up 11%
Hindalco Industries Q3 Results: Revenue from operations in Q3FY25 reached Rs 58,390 crore, marking an 11% increase from Rs 52,808 crore in the same quarter last year. The Aditya Birla Group's flagship company posted a 4.4% sequential decline in profit after tax, down from Rs 3,909 crore in Q2FY25. However, revenue saw a slight 0.32% quarter-on-quarter increase, reaching Rs 58,203 crore in the July-September period.
India weighs temporary tax on cheap Chinese steel import, minister says
India may implement a temporary 15%-25% tax on Chinese steel imports within six months to protect domestic manufacturers from cheap imports. The investigation into safeguard duties began in December and could last up to two years, aiming to ensure fair competition amidst rising imports from China.
Trump wants to kill clean energy. He's too late
President Trump's recent actions, including withdrawing from the Paris climate agreement and supporting fossil fuels, threaten the fight against climate change. However, the strong momentum of the clean energy sector and investments from the Inflation Reduction Act make it challenging for him to significantly disrupt progress. Internal conflicts and market dynamics further complicate his agenda.
Thermal coal imports seen falling for second straight year
India's thermal coal imports are expected to decline for the second consecutive year in 2025 due to reduced coal dependency for power generation, slowing economic activity, and high inventories. Imports fell around 2% to 173 million metric tons in 2024, driven by increased domestic production and competitive alternatives like petroleum coke preferred by the cement industry.
Coal demand from Power Min at 906 MT in FY26
The coal ministry anticipates meeting the power sector's coal demand of 906 million tonnes for FY26. Officials assured a sufficient summer stock, estimating 50 million tonnes by year-end. They aim for ₹54,000 crore in asset monetization from coal block auctions. Focus includes reducing imports and boosting domestic production, with significant import reductions noted from April to November 2024.
India's exports may touch record $800 bn this year: Piyush Goyal
India's exports are set to achieve a record USD 800 billion in the 2024-25 fiscal year, as Commerce and Industry Minister Piyush Goyal announced. Goyal also noted that certain imports are essential due to domestic shortages, and an increase in imports is indicative of rising domestic consumption, creating jobs and attracting investment.
Vehicle registrations rise 6.6% in Jan, indicating sustained recovery in consumer demand: FADA
Vehicle registrations in January increased by 6.6% to 2.29 million, indicating sustained consumer demand recovery across categories such as two-wheelers, passenger vehicles, and commercial vehicles. Factors like new model launches, better liquidity, and heavy discounts contributed to the growth, though challenges like rising interest rates and rural liquidity persist.
Alibaba, PDD Holdings shares drop after US Postal Service suspends shipments from China, Hong Kong
The USPS did not cite any reason for the temporary suspension. The halt followed US President Donald Trump's decision to do away with the so-called “de minimis” exemption for low-value packages.
Newly-imposed Chinese tariffs to cover US exports worth $23.6 billion in 2024: S&P Global Market
Mainland China has announced tariffs on $23.6 billion worth of US exports, including coal, crude oil, vehicles, and agricultural machinery, set to take effect on February 10. The tariffs, ranging from 10 to 15 per cent, follow President Donald Trump's 10 per cent tariff on Chinese imports. These measures may significantly impact US exporters already facing declining trade values.
OpenAI’s Asian alliance; Krutrim 2.0
OpenAI CEO Sam Altman is forging key alliances in Japan and South Korea to drive enterprise growth. This and more in today’s ETtech Top 5.
China probes Google moments after Donald Trump's tariff enter effect
China will investigate the US tech giant for alleged antitrust violations, according to a statement from the State Administration for Market Regulation on Tuesday. Additionally, Beijing announced a 15% levy on coal and liquefied natural gas, and 10% tariffs on oil and agricultural equipment from the US.
Vedanta's Anil Agarwal calls for India’s own ‘Drill Baby Drill’ moment after Donald Trump’s big move
Vedanta Chairperson Anil Agarwal underscores the significance of energy independence for India as the U.S. boosts oil and gas production under President Trump's administration. With India heavily reliant on imports, Agarwal suggests reforms to attract energy investments, highlighting the critical role of domestic production in reducing costs.
Coal India reports first monthly production de-growth of 0.8 pc in Jan'25
Coal India Limited (CIL) experienced its first monthly production drop in the current fiscal year, with an output decrease of 0.8% in January compared to the previous year. The decline was significantly influenced by reduced production from South Eastern Coalfields Ltd (SECL) and Bharat Coking Coal Ltd (BCCL).
Bank lending slows across sectors
Bank lending in December witnessed a general slowdown across various sectors including industry, services, retail, and agriculture. However, loans against gold jewellery surged by 71% year-on-year due to rising gold prices, doubling in absolute terms over two years to Rs 1.72 lakh crore.
Credit growth moderates in personal loan segment in December: RBI data
Bank credit to the personal loan segment slowed to 14.9% year-on-year in December 2024, largely due to reduced growth in 'other personal loans', 'vehicle loans', and 'credit card outstanding'. Non-food bank credit growth also moderated, with significant deceleration in the infrastructure segment and services sector, notably in 'non-banking financial companies' and trade credits.
India’s core sector output increases by 4% in December
India's core sector output increased by 4% in December, driven by coal and steel production, according to government data. Cement production grew 4%, steel output increased 5.1%, and coal production rose by 5.3%. Electricity generation saw a 5.1% rise. Overall infrastructure output grew 4.2% in April-December 2024-25, down from 8.3% in the previous year.
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