Asian indices closed a mixed bag today while Europe is trading in the negative currently. The rupee was placed at Rs 54.55 to the dollar at the time of writing.
Coal India (CIL), world's largest coal miner is planning to dilute a fraction of its US$ 11 bn cash reserve to increase production by 180 million tonnes in five years. The company is also considering acquisition of 77 dumpers of 190 tonnes each, as entity has decided to invest widely on mining equipment. The company will also purchase 70 dumpers of 190 tonnes, primarily for Northern Coalfields; 20 high-capacity 320-360 tonne dumpers for South Eastern Coalfields and Mahanadi Coalfields and 150-tonne dumpers for Eastern Coalfields. All purchases will be backed by a 11-year maintenance and repair contract (MARC).
Textile major Raymond has marked its foray into energy drink business with launch of its energy drink 'KS E Drink', stepping into the Rs 2 bn energy drink market in India. The drink is available in two flavors 'X- Fruit', a mixed fruit flavor and 'X- Berry' which is a mixed berry flavor.The energy drink is the newest addition to Raymond's KS product portfolio. The company's textile has also shown some signs of turnaround, but the problem of high debt looms large.