Sensex 27458.64 1.06 0%
Nifty 8341.4 -0.75 -0.01%
Monnet Ispat and Energy Ltd is planning to acquire majority stake in a 25-million tonne (mt) coal mine in Colombia, according to reports.
Reports stated that this move comes on the heels of the scrapping of Jindal Steel and Power’s $2.1-bn contract to develop the El Mutun iron ore deposit in another South American country, Bolivia.
Monnet had acquired Indonesian coal company PT Sarwa Sembada Karya Bumi in Sumatra for $24 million through its wholly-owned subsidiary, Monnet Global Ltd, in 2010-11, reports said.
India Infoline Research Team / 15:28, Mar 13, 2015
Markets are now reinforcing the perception of an early interest rate hike by US Federal Reserve, with consensus calling for the hike taking place in June, when compared with the prior expectations of a hike in September.