Coal Trader

A special court here on Friday sentenced gangster-turned-politician Mukhtar Ansari to five-and-a-half year's imprisonment for death threat to a coal trader in 1997.

Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world's third-richest person.

India's purchases of Russian coal have spiked in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30%, according to two trade sources and data reviewed by Reuters.

The CBI which is probing the illegal coal trading case has issued a look out notice against an accused Anup Majhi alias Lala and has sought details from Eastern Coalfields Limited about action taken against illegalmining cases a spokesperson said on Tuesday.

A string of successful bets on ports, mining and commodities helped transform Gautam Adani from a nondescript diamond trader into a tycoon with a net worth of $10 billion.

India's coal imports fell 11 per cent to 19.3 million tonnes in July from a year earlier - the sharpest and the first drop in more than a year - as local supplies rose and money losing power generators held up purchases, commodities trader mjunction said.

India is expected to overtake China as the world's top coal importer in 2015, faster than previously expected, traders and consultants said on Wednesday.

India's imports of raw and processed coal, or coke, rose 19 per cent to 21 million tonnes in April from a year earlier as low prices drew buyers, according to provisional data from commodities trader mjunction.

Coal imports into India, the world's third largest buyer, jumped 33.5 per cent in the last fiscal year to 242.4 million tonnes as lower purchases by China depressed prices and helped consumers elsewhere, preliminary data from online trader mjunction showed.

Adani Mining Pty, a wholly-owned subsidiary of Adani Enterprises, is in discussion with various power utilities and coal traders in different countries for offtake arrangements of the fuel from its Carmichael coal project in Australia, it said in a filing with the BSE.

India's coal imports in January fell 21 per cent month-on-month as state-owned Coal India Ltd ramped up supply from new and existing mines, online trader mjunction said, a trend that is likely to continue this month.

The Nifty opened lower on Thursday tracking weak global cues. Traders expect a volatile session on account of January contracts expiry. Sentiment is likely to be buoyant as foreign investors continued to be net buyers of Indian equities. On Wednesday, they bought shares worth Rs 1,723 crore in the cash market.

Coal shipments to India, the world's third-largest importer, rose 19 per cent to 210.6 million tonnes last year driven by an even bigger jump in purchases of the variety used in power generation, online trader mjunction said.

Coal block auctions will reduce uncertainty regarding power generation companies that depend on the dry fuel, traders say.

India's coal imports surged 19 per cent to 16 million tonnes in September from a year ago as fuel-hungry power companies bought at lower international prices to bring in much-needed supplies, preliminary data from online trader Mjunction showed.

A special court here on Friday sentenced gangster-turned-politician Mukhtar Ansari to five-and-a-half year's imprisonment for death threat to a coal trader in 1997.

Few outside of India had heard of Gautam Adani just a few years ago. Now the Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, has become the world's third-richest person.

India's purchases of Russian coal have spiked in recent weeks despite global sanctions on Moscow, as traders offer discounts of up to 30%, according to two trade sources and data reviewed by Reuters.

The CBI which is probing the illegal coal trading case has issued a look out notice against an accused Anup Majhi alias Lala and has sought details from Eastern Coalfields Limited about action taken against illegalmining cases a spokesperson said on Tuesday.

A string of successful bets on ports, mining and commodities helped transform Gautam Adani from a nondescript diamond trader into a tycoon with a net worth of $10 billion.

India's coal imports fell 11 per cent to 19.3 million tonnes in July from a year earlier - the sharpest and the first drop in more than a year - as local supplies rose and money losing power generators held up purchases, commodities trader mjunction said.

India is expected to overtake China as the world's top coal importer in 2015, faster than previously expected, traders and consultants said on Wednesday.

India's imports of raw and processed coal, or coke, rose 19 per cent to 21 million tonnes in April from a year earlier as low prices drew buyers, according to provisional data from commodities trader mjunction.

Coal imports into India, the world's third largest buyer, jumped 33.5 per cent in the last fiscal year to 242.4 million tonnes as lower purchases by China depressed prices and helped consumers elsewhere, preliminary data from online trader mjunction showed.

Adani Mining Pty, a wholly-owned subsidiary of Adani Enterprises, is in discussion with various power utilities and coal traders in different countries for offtake arrangements of the fuel from its Carmichael coal project in Australia, it said in a filing with the BSE.

India's coal imports in January fell 21 per cent month-on-month as state-owned Coal India Ltd ramped up supply from new and existing mines, online trader mjunction said, a trend that is likely to continue this month.

The Nifty opened lower on Thursday tracking weak global cues. Traders expect a volatile session on account of January contracts expiry. Sentiment is likely to be buoyant as foreign investors continued to be net buyers of Indian equities. On Wednesday, they bought shares worth Rs 1,723 crore in the cash market.

Coal shipments to India, the world's third-largest importer, rose 19 per cent to 210.6 million tonnes last year driven by an even bigger jump in purchases of the variety used in power generation, online trader mjunction said.

Coal block auctions will reduce uncertainty regarding power generation companies that depend on the dry fuel, traders say.

India's coal imports surged 19 per cent to 16 million tonnes in September from a year ago as fuel-hungry power companies bought at lower international prices to bring in much-needed supplies, preliminary data from online trader Mjunction showed.