Prakash Industries shares rose 5 percent in the early trade on December 12 after the company declared that its bid for the Bhaskarpara coal mine has been successful.The company had participated in the eighth tranche of coal blocks auction conducted by Coal Ministry and emerged as the highest bidder for the Bhaskarpara Coal Mine in Chhattisgarh, company said in the BSE release.The company on December 11, received a communication from the nominated authority i.e. Ministry of Coal, Government of India, declaring the company as the successful bidder for the coal mine.Close It is now required to execute the coal mine development and production agreement with the nominated authority, subsequent to which the vesting order will be issued to the company. related news D-Street Buzz: Metal stocks under pressure led by Hindalco; Sterlite Tech jumps 10%, YES Bank tanks Adani Transmission hits 52-week high on stake sale in a subsidiary IDBI Bank share price rises 3% as board … [Read more...] about Prakash Industries up 5% on winning bid for a coal mine
Will it be ‘third time lucky’ for Richard Branson in Mumbai? The founder of British airline Virgin Atlantic surely hopes so. In October, the carrier for the third time in its 20-year history in India, launched services between Mumbai and London.Virgin Atlantic first pulled back from Mumbai in 2008. Four years later, it relaunched with much fanfare only to pull back in 2015. All the while, Virgin Atlantic continued with its Delhi-London flights. The British capital is the busiest long haul destination from India. While giving out hope that there won't be a fourth time, Branson underlined that it was an opportune time for his airline to come back to Mumbai. His colleague Juha Jarvinen, EVP, Commercial, explained: "In the last five years, the market in Mumbai has grown by 25 percent. And, despite Virgin Atlantic launching services, the capacity in the Mumbai-London route is still down 35-40 percent (compared to 2018)." The opportunity has come up after Jet Airways, which … [Read more...] about Mumbai calling for Virgin Atlantic: Will it be ‘third time lucky’ for Richard Branson?