HCC has secured contracts worth Rs. 208 crore. This includes a contract from the Municipal Corporation of Brihan Mumbai for laying a 1.765 km pipeline, besides another order from a leading petrochemical company for the construction of off-gas cracker and process units.
Jaiprakash Power Ventures Ltd has dropped plans to hive off Bapsa II and Karcham Wangtoo hydro power plants into two separate, wholly-owned subsidiaries.
Supreme Court quashed allocation of 214 out of 218 coal blocks which were alloted to various companies since 1993 and in which it was claimed that around Rs. 2 lakh crores were invested. A bench, headed by Chief Justice R M Lodha, saved only four blocks - one belonging to NTPC and SAIL each and two allocated to Ultra Mega Power Projects - from being cancelled. The bench granted six months breathing time to mining companies to wind up their operations in the coal blocks.
Key benchmark indices settled with small losses after witnessing high volatility triggered after the Supreme Court in its verdict announced during mid-afternoon on 24 September 2014, scrapped all but 4 of the coal blocks allocated between 1993 and 2010. It had already declared illegal due to irregularities in the allocation of the blocks. Key indices reversed intraday losses after a sharp slide post the court ruling. Bank stocks declined on concerns of bad load due to their exposure to coal mines after the Supreme Court's verdict on coal block allocation. The market breadth was weak.