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Govt levies cess on coal; prices likely to go up
Press Trust of India / New Delhi February 26, 2010, :15 IST
The government today proposed a coal cess of Rs 50 to create a fund for promoting clean energy, a move which may push up fossil fuel prices.
"To build the corpus of the National Clean Energy Fund announced earlier. I propose to levy a clean energy cess on coal produced in India at a nominal rate of Rs 50 per tonne," Finance Minister Pranab Mukherjee said while presenting Union Budget 2010-11.
"This cess will also apply to imported coal," he added.
After the last year\'s hike by Coal India (CIL), the domestic coal prices are currently hovering in the range of Rs 448-Rs 2,500 per tonne.
The National Clean Energy Fund, is being created to fund research and innovative projects in clean energy technologies, he added.
"There are many areas of the country where pollution levels have reached alarming proportions. While we must ensure that the principle of polluter pays remains the basic guiding criteria for pollution management, we must also give a positive thrust to development of clean energy," Mukherjee said.
Coal, he said, is the "mainstay of India\'s energy sector and 75 per cent of the power generation is currently coal based".
In its attempt to develop alternative sources of energy and reduce dependence on conventional sources like coal, the government is promoting solar and electric power.
"Harnessing renewable energy sources to reduce dependence on fossil fuels is now recognised as a credible strategy for combating global warming and climate change," Mukherjee added.
To implement the government\'s ambitious National Solar Mission among others, the minister proposed to slash customs duty, excise duty and service tax on various such projects.
"I propose to provide a concessional customs duty of 5 per cent to machinery, instruments, equipment and appliances etc required for the initial setting up of photovoltaic and solar thermal power generating units. I also propose to exempt them from Central Excise duty," Mukherjee said.
"I propose to exempt a few more specified inputs required for the manufacture of rotor blades for wind energy generators from Central Excise duty," he added.
Also, to promote the use of energy-saving appliances, Mukherjee reduced the excise duty on LED lights to 4 per cent from 8 per cent, at par with Compact Fluorescent Lamps (CFLs).
Among other things, the government levied "a nominal duty of 4 per cent" on electric vehicles and exempted some of their critical parts from the basic customs and special additional duties subject to actual user condition.
"These parts would also enjoy a concessional Counter Vailing Duty of 4 per cent," he added
Clean tech gets a leg-up
February 27, 2010, 4:06 IST
Thrust on reducing fossil fuel dependence.
With India committing itself to a goal of 20-25 per cent cuts in its carbon emission intensity by 2020, Finance Minister Pranab Mukherjee announced a slew of measures to reduce dependence on fossil fuels in the long run and promote clean energy technology, as well as check pollution.
In his budget speech today, Mukherjee announced that a National Clean Energy Fund for funding research and innovative projects would be established. He proposed a clean energy cess on coal produced in India, as well as on imported coal. ‘Polluter pays' will remain the basic criterion, he said in his speech.
In addition, he announced a series of customs and excise duty cuts for photovoltaic and solar thermal power units. He said this in keeping with the government's resolve to implement the National Solar Mission. As part of this thrust, he proposed reducing central excise duty on LED lights from 8 per cent to 4 per cent.
He has proposed a nominal duty of 4 per cent on inputs and components used for electric cars, an energy-efficient means of transportation. And, a concessional duty of 4 per cent for the \'soleckshaw\', an environment-friendly alternative to manually-operated rickshaws, developed by the Council of Scientific and Industrial Research. Its key parts and components are also being exempt from duty.
Central budgetary allocation for the ministry of environment and forests has risen by about 10 per cent, from Rs 2,129 crore in 2009-10 to Rs 2,351 crore in 2010-11. However, the allocation for Project Tiger, a key programme to save the rapidly-dwindling tiger population in the country, has been cut by about Rs 30 crore.
With climate change on top of the government's list of priorities, pollution control has seen a substantial increase in allocation. The allocation for control of river water pollution programmes has gone up.
WTF is that?
Admiral, lets hope you are right about what you found!!! Its hard to believe that Kate4 didnt find it with all the DD she does for us. How sure are you that we are in for some good times ahead? And Admiral, you sure do a lot of LOL-ing in your posts. Hope your not LOL-ing at our gullable butts if your not being credible.
Hoping for the best. GLTA
Are you buying then, if this is so a great? I would buy hand over fist! Hope you have a good lead! You have a lot of credibility riding on this IMO. You are well respected!
I hope your not pulling my our chain. It is plain sick to screw with someones emotions when they are down big money. What you got? why cant you cough it up?
I think downside is very limited while the upside is so huge. I want to buy more badly.
Not sure if there is an exact date. Could happen any time in March IMO. There are big things on the horizon for this Compmay. I believe this signing is just the begining of more projects and REVS for the CO.
Do you guys think that most of the restricted selling is over, and do you think the ones that have not sold are waiting till the March signing? Also Vert was off the ask all day, and maybe just maybe he is in charge of selling the restricted shares in one way shape or form?
This is a post from another board. Just thought I would share. Interesting thoughts.
I bought CCTC at $.19 on 2/19 and $.115 on 2/23 for an average price of under $.13 (more was obviously purchased at the lows that highs). Bully for you if you say you got it at $.04, etc. Great call.
Since my buy point I have watched it trade. I sold a small holding at $.15 as a defensive move, but not much.
Something big happend on Jan 14th to this stock. Never in 10 years of the company trading history had there been a day of over 100k volume. Not one. The highest ever day I could find was on October 2nd 2008, when the stock traded 94k and closed at $7.00 per share.
Now check out the recent history:
8-Jan-10 1.18 1.30 1.05 1.19 12,700 1.19
11-Jan-10 1.15 1.20 1.05 1.05 49,100 1.05
12-Jan-10 1.05 1.05 0.95 0.95 14,600 0.95
13-Jan-10 0.95 0.95 0.85 0.85 15,200 0.85
January 13th the stock closed at $0.85 on 15,200 volume - a 2+ year low.
14-Jan-10 0.95 0.95 0.30 0.34 896,800 0.34
WTF is this? 896,800 shares trade literally slicing the price in half.
What is to follow is nothing short of a massacre..
15-Jan-10 0.39 0.39 0.18 0.20 1,072,500 0.20
19-Jan-10 0.26 0.33 0.11 0.11 1,818,900 0.11
20-Jan-10 0.12 0.19 0.08 0.15 1,818,000 0.15
21-Jan-10 0.18 0.18 0.11 0.13 440,500 0.13
22-Jan-10 0.12 0.14 0.12 0.12 199,600 0.12
25-Jan-10 0.13 0.15 0.12 0.14 725,800 0.14
26-Jan-10 0.16 0.16 0.11 0.11 376,200 0.11
27-Jan-10 0.13 0.13 0.11 0.12 595,700 0.12
28-Jan-10 0.13 0.13 0.09 0.10 1,423,600 0.10
29-Jan-10 0.10 0.11 0.09 0.10 1,265,300 0.10
1-Feb-10 0.11 0.11 0.08 0.08 1,107,600 0.08
2-Feb-10 0.08 0.08 0.07 0.07 470,600 0.07
3-Feb-10 0.07 0.08 0.07 0.08 340,300 0.08
4-Feb-10 0.08 0.10 0.07 0.08 331,000 0.08
5-Feb-10 0.08 0.08 0.06 0.06 793,000 0.06
8-Feb-10 0.07 0.07 0.05 0.05 2,181,800 0.05
9-Feb-10 0.05 0.05 0.04 0.04 1,415,800 0.04
10-Feb-10 0.04 0.05 0.03 0.04 1,634,100 0.04
11-Feb-10 0.04 0.05 0.04 0.04 6,049,400 0.04
12-Feb-10 0.05 0.05 0.04 0.04 4,534,800 0.04
16-Feb-10 0.04 0.05 0.04 0.04 6,884,700 0.04
SO thats 35 million shares traded hands. In 22 trading days.
Trend broken on 2/17 by the MOU PR
http://finance.yahoo.com/news/Clean-Coal...
17-Feb-10 0.05 0.14 0.05 0.12 37,646,900 0.12
Suspiciously trades 37 million shares, very close to the whole amount sold the last 22 trading days..
Then the pimp on 2/18 by Marketwire
http://finance.yahoo.com/news/Clean-Coal...
18-Feb-10 0.13 0.42 0.12 0.27 80,814,100 0.27
And since..
19-Feb-10 0.26 0.26 0.16 0.19 38,763,300 0.19
22-Feb-10 0.21 0.22 0.14 0.15 22,780,800 0.15
23-Feb-10 0.17 0.17 0.11 0.13 26,036,700 0.13
24-Feb-10 0.13 0.16 0.11 0.15 20,234,700 0.15
Thats getting close to 200 million traded on the upside.
Q. Where did the shares come from?
Marketwire said warrants. Lots of short too I read (40% maybe).
So whats next? Who was buying at the lows? The company?
you spoke too soon.
A green would be great, but it is going to battle very hard to get there. Volume is picking up!
Anybody have an idea on the EOD?
PPS is jumping all over WTF?
Thanks for your info, but I am a big believer in this Co. and will wait it out.
Kate I like your DD? Thank you for that. It very well could be CCTS's tech. I guess we will find out more soon enough! There should be news in the not too distant future that will shed some light on CCTC's current direction and anticipated signing... I am long CCTC and believe strongly in their technology. I have done my own DD, and IMO things are just starting to heat up for CCTC.
from a post on another board today:
After the deal in March this stock should be back to $1 or over...Hang on to till couple news come out...I mean look at the 52 week high $4. The company is looking to investing in china which could be their biggest future customer.
I talked to Dr. Edward Jennings — Director and Chairman of the Board on the phone,and he feels very optimistic about the growth of this company. Dr. Edward currently a trusty at the Ohio state university and his info can be found by just googling his name.
When i asked him about investing in CCTC, he said I'm not suppose to tell you much (I guess since CCTC traded as pink sheet), but He said 'patience will Pay off'
Note: This is my personal research. Do your own research prior to the investment. I put down $5000 when it was trading at $.05 and will hang on to this till it goes over $2 to $3.
All the Best to all of You! Have a safe trading!
Very true! Indeed
I am holding and not selling a single share! That is for damn sure. I know this is going to be special very soon.
Nice close everyone! Tomorrow should be interesting. Still a bargain at these levels. Dont miss the train!!!
.15 Lets go!
That maybe a month or two away but its so worth it! Going along for the ride. Patience, and Confidence in a great Company that is vastly undervalued!!!
you can have 50-100% gain or more at least IMO.
I might, but yeah a buck sounds NICE! Having a hard time breaking through .14 as we speak!
Cool. Lets do this thing together. GOOD LUCK!
Amen to that! dont sell into fear!
Would be nice to get some news along with a rally! In time this should be flirting with a buck easy IMO.
This could be the start of something great! GLTA. I am holding for over .60 at least.
I have to agree with your theory! I have been holding all along waiting for great gains. With news this thing is going to erupt. Get in now if you can! Its green NOW. lets stay there.
I have to agree with your theory! I have been holding all along waiting for great gains. With news this thing is going to erupt. Get in now if you can!
I have to agree with your theory! I have been holding all along waiting for great gains. With news this thing is going to erupt. Get in now if you can!
too bad you didnt have the balls to hold on just a little longer. You will be sorry IMO. To everyone that sold... Wake the Phuck UP!!!
Thanks Kate! good read, and could lead to CCTC's growth... I believe we are going to get some good news regarding the upcoming signing and future opps.
when is that article dated? It sounds like it could be CCTC's technology they are talking about.
whats an uptrend? lol
Its obvious you have no patience! Come on give it a rest.
Hopefully the price starts going up so i can feel better about my sorry ass! I am waiting...
Five minutes till .14 for my prediction to come true!
I am going to say 1/2 an hour...