Daily News - Monday, 16 March 2026
Coal India’s subsidiary Central Mine Planning & Design Institute (CMPDI) targets USD $1.33 Billion valuation in IPO (Reuters)
Coal India Ltd’s subsidiary Central Mine Planning & Design Institute (CMPDI) announced its initial public offering (IPO), seeking a valuation of USD $1.33 Billion (INR ~122.9B). The IPO will be open for subscription from 20-24 March 2026, with a price band of ₹163-₹172 per share (USD $1.76-1.86), aiming to raise ₹18.38 Billion (USD $198.7M). CMPDI, which provides consultancy and support services for coal and mineral exploration, reported a profit of ₹4.25B (USD $45.9M) for the nine months ended December 2025, up 9% year-on-year. The issue is an offer for sale (OFS), with Coal India planning to offload up to 107.1 million shares. The IPO comes amid weak sentiment in India’s primary market, where 7 of 11 IPOs in 2026 have listed below issue price, though Bharat Coking Coal Ltd, another Coal India subsidiary, nearly doubled on debut in January. The offering is being closely watched by the Ministry of Coal and investors, as it tests appetite for state‑linked energy firms during global market volatility driven by Middle East tensions.
Iran’s yuan oil trade threatens Indian Markets, Gold, Silver (News18)
Reports suggested Iran may demand oil payments in Chinese yuan for shipments through the Strait of Hormuz, which carries nearly 20% of global oil flows. This directly affects India, which imports 85% of its crude oil and relies heavily on Gulf routes; a yuan settlement would force Indian refiners to arrange currency swaps via RBI, raising transaction costs. India’s foreign exchange reserves of USD $650 Billion (INR ~54T) are largely dollar‑denominated, so shifting part into yuan could weaken the rupee and reduce dollar liquidity. With oil already above USD $100 (INR ~8,300) per barrel, added currency friction risks pushing retail inflation beyond the 3.21% recorded in February 2026, straining households and businesses. Analysts like Ponmudi R (Enrich Money) and Anuj Gupta (SEBI expert) warn that Indian equity and bond markets may become more volatile, while demand for gold and silver rises as safe havens. The Ministry of Finance and Petroleum Ministry may need to expand yuan swap lines with China or accelerate rupee‑denominated oil trade agreements, while maintaining 25 days of crude inventory and 8 weeks of petroleum cover to safeguard energy security.
Strait of Hormuz blockade cuts 55% of India’s LPG supply (Financial Express)
Ministry of Petroleum and Natural Gas announced that households with Piped Natural Gas (PNG) connections will no longer be allowed to keep or refill Liquefied Petroleum Gas (LPG) cylinders, as part of emergency supply rules. The decision comes amid the West Asia conflict, which has blocked the Strait of Hormuz, cutting off nearly 55% of India’s LPG consumption volumes, since 90% of imports transit through this chokepoint. Panic buying surged, with household LPG bookings rising 60% on Friday to 88.8 lakh cylinders, compared to the average 55.7 lakh daily bookings between April-February, according to Joint Secretary Sujata Sharma. Despite assurances, prices spiked in cities like Bengaluru, where commercial cylinders touched ₹8,000 (USD $96), while online booking platforms temporarily halted services. The Ministry of External Affairs spokesperson Randhir Jaiswal confirmed India has sought safe passage for 22 stranded vessels, with Iran allowing a few ships to cross in rare exceptions. Public sector oil companies continue to deliver over 50 lakh cylinders per day, but the government has prioritized 333 million household LPG connections over industrial and commercial users to prevent a nationwide cooking gas crisis.
Commerce Ministry reviews Special Economic Zones (SEZs) duty relief proposal (Economic Times)
Export Promotion Council for EOUs and SEZs urged the Commerce and Industry Ministry to allow 200 products to be imported at concessional duty via Special Economic Zones (SEZs). The list includes photovoltaic cells, naphtha, fungicides, non-industrial diamonds, electric power machinery parts, vaccines, and aluminium billets. The proposal aligns with the Union Budget 2026-27, which suggested enabling SEZ manufacturing units to sell into the Domestic Tariff Area (DTA) at concessional rates. Industry argues that concessional imports from partners like China and countries under Free Trade Agreements (FTAs) would ensure a level playing field for DTA units. The move is expected to boost import substitution, manufacturing, investment, and job creation, while reducing costs for critical inputs. The Commerce Ministry is reviewing the proposal as part of its broader trade facilitation and industrial competitiveness agenda.
West Asia crisis hits Indian hotels: USD $1.2 Million daily losses (Financial Express)
India’s hospitality sector is facing a dual crisis as the West Asia conflict triggers mass travel cancellations and a severe commercial LPG shortage. Leading hotel chains such as Indian Hotels Company Ltd (IHCL Taj Hotels) and ITC Hotels report 80-100 room cancellations per day in Mumbai and Delhi, translating into ₹1.5-2M (USD $18K-24K) daily revenue loss per property. Industry estimates suggest combined losses of about ₹100M (USD $1.2M) per day across large chains. International operators like Marriott (11 hotels in Mumbai, 13 in NCR) and Hyatt (2 in Mumbai, 4 in NCR), along with Oberoi and Accor, are also hit, especially in premium locations such as South Mumbai and airport hotels. The cancellations follow earlier demand spikes during the ICC Men’s T20 World Cup and the India AI Summit, but executives warn those gains won’t offset current losses. Smaller resorts and hotels are additionally struggling with LPG supply disruptions, forcing some to cancel bookings if restaurant services cannot be maintained, according to industry executives.
