CCL to Add 2 New Mines, Boosting Output by 12 MT
Coal India subsidiary Central Coalfields Ltd (CCL) is set to commission two new coal mines in the 2025–26 financial year, aiming to enhance its annual production capacity by 10 to 12 million tonnes. The initiative is part of the company’s broader plan to exceed 110 million tonnes of coal production this fiscal and reach 150 million tonnes by 2030.“We have planned to open two new mines this year,” said Nilendu Kumar Singh, Chairman and Managing Director of CCL.Production at the Kotre Basantpur block, a coking coal mine with a peak rated capacity of 5 million tonnes per annum, is expecte..
India Cements Sells ICML Stake for Rs 980 Million
India Cements has announced the sale of its entire equity holding in Industrial Chemicals and Monomers Ltd (ICML) to Mirai Sensing Private Ltd for a consideration of Rs 980 million. The transaction was disclosed through a regulatory filing with the Bombay Stock Exchange.Following the completion of this sale, ICML will cease to be a subsidiary of India Cements, the filing confirmed.ICML, registered in Tirunelveli, Tamil Nadu, had earlier suspended operations. According to the company’s annual report for 2024, the business had become unviable due to reasons previously disclosed. The report fur..
Progcap Targets Rs 30 Billion AUM by FY26 on MSME Credit Demand
MSME-focused fintech firm Progcap is aiming to cross Rs 30 billion in assets under management (AUM) by the end of the current financial year, fuelled by rising demand for formal credit from micro, small and medium enterprises across India. The New Delhi-based firm, which received its NBFC licence in 2022, has been registering robust growth and expects a 40–50 per cent rise in business in FY26.“We ended FY25 with Rs 20 billion in AUM and expect this to rise to Rs 30 billion by March 2026,” said Progcap co-founder Pallavi Shrivastava. She added that sanctioned loans are also expected to gr..
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