Neelkanth
Mishra, Credit Suisse sees a bigger impact when coal blocks are auctioned.
"Some functioning mines may attract an economically unjustified premium.
If auctioned, we expect premiums could be as high as Rs 1,500-2,200/tonne,
impacting EBITDA by Rs 7,500-10,000 crore. This could impact the economic
viability of many projects and some heavily indebted companies," he adds.
"Coal
imports are still pricier than e-auction and face logistical constraints. We
highlight companies with cancelled blocks and high debt levels such as JSPL,
Lanco Infratech, GMR Infrastructure, GVK Power and KSK Energy and their lenders
like SBI, PNB, ICICI Bank and Union Bank," says Mishra.
10:20am Market Expert
Hemant
Thukral of Aditya Birla money expects the October expiry to be stable and
rangebound today as the volatility in the US markets has come down.
Speaking to CNBC-TV18, Thukral says foreign
institutional investors (FIIs) sold index options in trade on Wednesday as they
believe the panic in the market is now settling down.
Furthermore,
he expects the Nifty to hold at 8000 and has a stop loss of Rs 7950.
The next series, Thukral believes will be
positive as the sentiment is strong as the Nifty if it closes today in the
green will be the seventh straight positive closing for the market.
10:00am Equity benchmarks continued to see
consolidation with the Nifty struggling at 8000 on expiry session for September
derivative contracts. Oil & gas, banks, metals and power stocks were under
pressure.
The Sensex fell 52.05 points to 26692.64 and
the Nifty declined 15.10 points to 7987.30. About 753 shares have advanced,
1191 shares declined, and 56 shares are unchanged.
ONGC fell
2.4 percent as Law Minister Ravi Shankar Prasad says cabinet deferred decision
on gas pricing. "Decision on gas pricing will be taken before November
15," he adds. Oil India was down 1.3 percent.
Hindalco
Industries topped the selling list, down nearly 4 percent. ICICI Bank, State
Bank of India, Axis Bank, Mahindra and Mahindra, Tata Steel, Sesa Sterlite,
NTPC, Tata Power and BHEL declined 1-2 percent.
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