ECONOMY ANALYSIS
Supreme Court terms all coal block allocations illegal
Sheila Dikshit likely to resign as Kerala Governor: Sources
SC stays Aptel's interim order on compensatory tariff
Expect paper division to do better in H2FY15: Orient Paper
Kolte-Patil hits 6.7-year high, sees strong revenue growth
Black Money: India get Swiss banks' data of hoarders
MARKET ANALYSIS
The Indian markets closed on a flat note after hitting life highs in intraday trade.
The 30-stock Sensex hit an all-time high of 26,630.74; while the Nifty touched
7,968.25; its life high.
The rally on Dalal Street came to a halt after the Supreme Court ruled that all coal
block allocations post 1992 are illegal.
The biggest loser post the SC judgement was Jindal SteelBSE -13.97 %, which
closed the day at Rs 259.00; down 12 per cent.
HindalcoBSE -9.56 % was another big loser. It cracked about 8%.
The court's judgement was on a petition against alleged irregularities in the
allotment of coal blocks to private parties during UPA and NDA regimes from 2001
till 2009.
The apex court observed that allocation of coal blocks done under screening
committee rule was irregular.
No proper procedure for allocation was followed since 1992, the court said.
The SC has said further hearing is required to determine whether there is a need for
cancelling 218 coal block allocations.
Supreme Court terms all coal block allocations illegal
Sheila Dikshit likely to resign as Kerala Governor: Sources
SC stays Aptel's interim order on compensatory tariff
Expect paper division to do better in H2FY15: Orient Paper
Kolte-Patil hits 6.7-year high, sees strong revenue growth
Black Money: India get Swiss banks' data of hoarders
MARKET ANALYSIS
The Indian markets closed on a flat note after hitting life highs in intraday trade.
The 30-stock Sensex hit an all-time high of 26,630.74; while the Nifty touched
7,968.25; its life high.
The rally on Dalal Street came to a halt after the Supreme Court ruled that all coal
block allocations post 1992 are illegal.
The biggest loser post the SC judgement was Jindal SteelBSE -13.97 %, which
closed the day at Rs 259.00; down 12 per cent.
HindalcoBSE -9.56 % was another big loser. It cracked about 8%.
The court's judgement was on a petition against alleged irregularities in the
allotment of coal blocks to private parties during UPA and NDA regimes from 2001
till 2009.
The apex court observed that allocation of coal blocks done under screening
committee rule was irregular.
No proper procedure for allocation was followed since 1992, the court said.
The SC has said further hearing is required to determine whether there is a need for
cancelling 218 coal block allocations.
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