Top headlines: Moody's upgrades India's outlook; Vedanta eyes Hind Copper

Business Standard brings you the top headlines on Tuesday

Govt amends rules to allow 50% sale of coal from captive mines

The government on Tuesday said it has amended rules with a view to allow 50 per cent sale of coal from captive mines.

The move is likely to benefit over 100 captive coal and lignite blocks with over 500 million tonnes per annum peak rated capacity as well as all coal and lignite bearing states. Read more

Anil Agarwal-led Vedanta eyes buying govt's stake in Hindustan Copper

Mining giant Vedanta Group will look to bid for buying the government's stake in Hindustan Copper Ltd as and when the state-owned firm is put up for privatisation, its billionaire founder Anil Agarwal said.

He said that the company is doing its due diligence for the same. Read more

Tribunal order on spectrum dues: Telecom dept says its reconsidering appeal

The department of telecommunications (DoT) told the Supreme Court on Tuesday it is reconsidering its decision to proceed with an appeal filed against a tribunal order in April 2019 on the issue of recovery of one-time spectrum user charges (SUC) from companies to the tune of Rs 40,000 crore.

It requested the court to give the government four weeks so that it can take an “informed decision” whether to proceed with its appeal against an order by Telecom Disputes Settlement and Appellate Tribunal. Read more

Lakhimpur Kheri: Order CBI probe under SC supervision, UP lawyers urge CJI

Two lawyers have written to the Chief Justice of India seeking a CBI probe, under the supervision of the top court, into the events at UP's Lakhimpur Kheri, where farmers were allegedly mowed down by a car. The letter also sought punishment for ministers allegedly involved in the ghastly incident.

The letter by advocates Shiv Kumar Tripathi and C.S. Panda said: "Having regard to the seriousness of the killing of the farmers at district Lakhimpur Kheri in Uttar Pradesh, it is incumbent upon this Hon'ble Court to intervene in the matter as flashed in the press." The lawyers claimed of late, violence has become the political culture in the country. Read more

Moody's upgrades India's rating outlook to 'stable' from 'negative'

Moody's Investors Service on Tuesday changed the outlook on India's sovereign ratings to 'stable' from 'negative'. However, it retained the ratings, both of foreign and domestic currencies, at the lowest investment grade.

"The decision to change the outlook to stable reflects Moody's view that the downside risks from negative feedback between the real economy and financial system are receding. An economic recovery is underway with activity picking up and broadening across sectors," said Moody's.