Tuesday, August 26, 2014

Coal in India is Different: Time to Buy the Subcontinent

Truth be told, Indians are different.
They speak better English than I do.
From FT Alphaville:

India’s Coalgate, the winners and losers
Of course, everyone’s a winner when judgements start off with prose like this:
Coal is king and paramount Lord of industry is an old saying in the industrial world. Industrial greatness has been built up on coal by many countries. In India, coal is the most important indigenous energy resource and remains the dominant fuel for power generation and many industrial applications.
So we’ll have to make do with degrees when discussing the verdict of India’s Supreme Court that, in the words of the FT, saw more than 200 coal mining licences awarded to private industrial groups declared illegal.

Some more words from the FT:
During the past two decades India has granted coal blocks to a range of businesses in sectors such as power and steelmaking, partly to overcome fuel shortages stemming from its inefficient and state-dominated mining sector....MORE, including the winners.
Meanwhile, at Barron's Emerging Markets Daily:
India Slumps On Supreme Court Ruling: Oversold?