On Monday the world’s largest coal miner, Coal India has stated that it is expecting to achieve an annual return of 62 billion rupees or $1.4 billion in the coming fiscal year which starts from the month of April.

However, the company says that it is possible after the review of the coal prices and the news has surged the stock price of the company up by over 11 percent today.

The company has said that the inflation will bring in additional revenue of 6.5 billion rupees in this fiscal year. Moreover, the board has approved revision of the coal prices which is effective from Sunday.

The quantum of the price hike is yet to be disclosed by the company. Recently the Coal India has increased coal prices by 30%. This change will be effective from 28th February i. e. from today. This will be beneficial for non- regulated sectors like cement, iron, steel, aluminium and paper.

There are rumors that Reliance Industries (RIL) has approached Japan's Orix Corp to attain the latter's 23.87% stake in Infrastructure Leasing and Financial Services (IL&FS) for around $1.2 billion.

In the last quarter of the year 2010, the net profit of Areva T&D India has raised 29.38% to Rs. 88.08 crore.