Coal India Limited would be the World’s biggest listed coal producer!

Coal India Limited is set to make history with Rs 15,200-cr IPO, Coal India’s initial public offering (IPO), the nations biggest and priced at a discount to global peers, is likely to attract investors and set the stage for it to become a global industry benchmark, akin to Brazil’s Vale in iron ore.

The government said investors can bid for Coal India (CIL) shares in the Rs 225-245 price band that will help it raise as much as Rs 15,200 crore. Ten per cent of the company, or 63.16 crore shares are on sale, which if priced at the top end, could make it the seventh most-valuable firm in whole of India with a market capitalization of $34 billion.

Coal India, with an output of 431 million tonnes a year, would be the world’s biggest listed coal producer. Its coal reserves are also the largest in the world with 10.6 billion tonnes compared with Peabody’s 9.3 billion tonnes and China’s Shenhua’s 7.4 billion tonnes.


Economic Times

Things like refrigerator, microwave oven, computers and ice-creams to be used to measure WPI!

You know what's common to Ovens, Jewelry, Ice-cream, Towels, Washing Machines, Footballs & VCD players?

Answer: They are some of the things the government will now use to calculate wholesale inflation.

Some key important things that you must know about the new wholesale price index:

The base year against which the price rise is measured has been advanced by a decade from 1993-94 to 2004-05.

The new WPI index would concentrate more on accuracy and indication about the actual price movement in real time.

The new series would comprise of different weight-age levels, relative to the changes in the economy over a period of time. For instance, the weight of manufactured products would surge from 63.74% as per 1993-94 base price levels to 64.97% now.

Interestingly, the new WPI index now also includes the more commonly used items such as refrigerator, washing machine, microwave oven, computer and Television sets – which have now turned into basic needs, from wants. In fact, even Consumer items widely used by middle class such ice-cream, mineral water, readymade and instant food products, canned meat, leather products, dish antenna and even precious metals like gold and silver finds its place in the new index.