Rajasthan, III Grade Teacher, तृतीय श्रेणी शिक्षक भर्ती से रोक हटी

Tue, March05, 2012

जोधपुर.राजस्थान हाईकोर्ट की खंडपीठ ने तृतीय श्रेणी शिक्षक भर्ती प्रक्रिया पर लगी रोक हटाने के आदेश दिए हैं। यह रोक 19 मार्च तक के लिए अंतरिम रूप से हटाई गई है। यह रोक एकलपीठ ने स्वप्रेरित प्रसंज्ञान लेकर शनिवार को लगाई थी। इस आदेश के खिलाफ राज्य सरकार की ओर से अपील दायर की गई थी। सोमवार को न्यायाधीश दिनेश माहेश्वरी व न्यायाधीश सीएम तोतला की खंडपीठ ने यह आदेश दिए। हालांकि, एकलपीठ के समक्ष पूर्व निर्धारित तिथि 13 मार्च को सुनवाई जारी रहेगी।

खंडपीठ में राज्य सरकार की ओर से अतिरिक्त महाधिवक्ता जीआर पूनिया ने कहा कि पंचायतराज विभाग की ओर से 1998 के बाद अब तृतीय श्रेणी भर्ती परीक्षा करवाई जा रही है। इसमें एनसीटीई के प्रावधानों के अनुसार शिक्षक योग्यता परीक्षा (आरटेट) में सफल अभ्यर्थियों को ही प्रवेश दिया जाएगा।

भर्ती परीक्षा जिला परिषदों के माध्यम से जिलेवार करवाई जा रही है। प्रक्रिया पर रोक से भर्ती में विलंब होगा और अभ्यर्थियों में निराशा व्याप्त होगी। इस पर खंडपीठ ने पूछा कि पिछली बार इस परीक्षा को आरपीएससी के माध्यम से कराया गया था, तो इस बार परीक्षा जिला परिषद के माध्यम से जिलेवार क्यों करवाई जा रही है। कुछ अन्य सवाल भी हैं जिनका सरकार व संबंधित विभागों व एजेंसियों को जवाब देना होगा।

खंडपीठ ने कहा कि सरकार की विज्ञप्ति इतनी उलझन भरी है कि कोई भी अदालत इस पर रोक लगा सकती है, लेकिन अभ्यर्थियों को फॉर्म आदि भरने में असुविधा न हो इसलिए एकलपीठ के अंतरिम आदेश पर 19 मार्च तक रोक लगाई जा रही है।

इस दौरान मूल शिकायतकर्ता देवीसिंह के वकील ने इस बार आरटेट नहीं कराई गई है, जिससे करीब 6 लाख अभ्यर्थियों को नुकसान होगा। इस पर खंडपीठ ने कहा कि इस पर एकलपीठ में पूर्व निर्धारित तिथियों पर सुनवाई होगी।

Key: Rajasthan, III Grade Teachers, High Court stay, RTET, District wise III grade,

(sourced Bhaskar.com)

Coal India Q2 net lower than forecast

Sun Nov 13, 2011

REUTERS - State-run Coal India, the world's largest coal miner, posted a lower-than-expected quarterly net profit of 25.93 billion rupees ($517.3 million) as a price increase in February failed to boost profitability despite higher-than-expected sales.

Coal India, which produces nearly 80 percent of the coal in India, has been unable to meet growing power demand in Asia's third-largest economy from power and steel projects.

The company has said it may miss production targets this year because of delays in environmental clearances at some of its mines.

Coal accounts for more than half of India's power generation, and the country is likely to import 135 million tonnes of coal in the financial year that began April 1, spurred by demand that is forecast to grow 11 percent a year.

India holds about 10 percent of the world's coal reserves, but has struggled to provide enough fuel to its under-performing power sector because of policy challenges ranging from land acquisition to green clearances for mining and tariff subsidy programmes.

The Kolkata-based company said consolidated sales in July-September stood at 131.48 billion rupees.

A Reuters poll of brokerages had forecast a net profit of 28.5 billion rupees for the quarter on net sales of 130.9 billion.

The company, in which the government sold a 10-percent stake for $3.4 billion in the country's largest IPO ever last November, did not provide comparable numbers for the corresponding quarter last year as it was unlisted then.

However, on a half-yearly basis, its consolidated profit rose to 67.37 billion rupees in April-September as compared with 40.2 billion rupees a year earlier, it said.

The company has raised coal prices by 30 percent since February for some of its customers.

Coal India prices coal about two-thirds lower than global prices, in part because of comparatively low quality coal. Despite the price increase, its coal prices remain 30 to 60 percent lower than international rates.

Global thermal coal prices have been trading at about $120 a tonne, more than 20 percent higher than prices a year ago when prices were below $100 per tonne.

Coal India, which this month received government approval for acquiring unlisted coal assets overseas, has been on the lookout for coal mines abroad, but has faced stiff competition from global rivals as well as private sector Indian companies.

The miner, which is negotiating wage increases with its five recognised unions, is expected to effect the next round of price increases once these are finalised.

It is likely to make provision for 25 billion rupees this fiscal year for a likely wage increase, a senior finance official had said earlier.

Shares in Coal India, the country's fourth-most valuable firm at about $41 billion, closed unchanged at 326.10 rupees on Friday.

The stock, which closed at 326.10 rupees on Friday, has risen 3.6 percent in 2011, outperforming a nearly 16 percent decline in the main index. ($1 = 50.1 rupees)

(sourced Reuters)

Coal miner Consol's Q3 profit rises, beats Street

Thu Oct 27, 2011

* Q3 net profit 73 cts/shr v Wall St view 68 cts/shr
* Revenue of $1.4 billion is company's highest Q3

Oct 27 (Reuters) - Coal and natural gas producer Consol Energy Inc's third-quarter profit beat Wall Street estimates, more than doubling on higher prices for its steel-making coal.

The company also raised its annual dividend 25 percent.

Net income was $167 million, or 73 cents per share, compared with $75 million, or 33 cents per share, a year earlier, the Pittsburgh-based company said on Thursday.

Analysts on average were expecting earnings of 68 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose to $1.4 billion -- Consol's highest ever for a third quarter. Most of the increase came from much higher average realized prices from steel-making metallurgical coal sales. The average was $209 per ton, compared with $165.61 per ton a year earlier.

For the second consecutive quarter, Consol generated more cash from its metallurgical business than from thermal, or steam coal, which is used to power electricity generation.

But Consol said profitability in its natural gas business division slipped from the 2010 quarter, despite 13 percent higher gas volumes. Unit gas margins fell, primarily due to a decrease in realized gas prices, it said, while unit gas costs declined, mostly because of higher proved reserves.

Consol said it expects overall unit costs to continue to decline over time as the company increases its emphasis on low- cost drilling in the Marcellus Shale region of the northeastern United States.

In the third quarter, Consol produced 14.7 million tons of coal -- in line with its estimate -- and it anticipates fourth-quarter production of 14.7 million to 15.3 million tons.

Two weeks ago, Consol said production at two of its Appalachian mines was affected by structural problems, but it still expects to hit its targets for the year.

Last month, the company raised its 2011 coal export forecast, saying it sees higher shipments to Asia and expects overall export markets to remain strong this year.

Consol's board of directors increased the regular annual dividend 25 percent, or 10 cents per share, to 50 cents per share. The regular quarterly dividend of 12.5 cents per share, is payable on Nov. 25, to shareholders of record on Nov. 11.

(sourced Reuters)

New World Resources Quarterly Coking Coal Price Falls 9%

Thu,October 27, 2011

Oct. 27 (Bloomberg) -- New World Resources Plc, the biggest Czech producer of coking coal, said the average agreed price for coking coal and coke delivery in the fourth quarter declined because of weaker European demand.

The price of coking coal fell 9 percent from the previous quarter to 171 euros ($239) per ton, the Amsterdam-based miner said today in a Regulatory News Service statement. Coke prices for the last three months of the year are seen at 341 euros a ton, down 13 percent from the previous quarter, the company said.

The thermal coal price for 2011 is unchanged at 71 euros a ton, the company said. The miner cut its 2011 coke sales estimate to between 525 and 575 kilotons, from a previous forecast of 720 kilotons.

The figures show continued weakness in coking coal prices and a decline in the price premium over Asian markets, Ceska Sporitelna AS analyst Petr Bartek wrote in a report to clients. The production mix of the company remains “weak,” wrote Bartek who recommends investors “accumulate” shares in the company.

NWR produces coking, or steelmaking, coal and thermal coal and owns four mines and two coking facilities in the Czech Republic. It sells coal to customers including the Czech unit of ArcelorMittal, the world’s largest steelmaker.

NWR, which reiterated its full-year production targets, fell 1.38 koruna, or less than 1 percent, to 143.62 in Prague trading as of 10:30 a.m.

(sourced Business Week)

Vale Profit Misses Analysts’ Estimates As Currency Fall Boosts Dollar Debt

Thu, Oct27, 2011

Vale SA (VALE5), the world’s largest iron- ore producer, posted its first decline in quarterly profit in two years and missed analysts’ estimates after a weaker Brazilian real boosted dollar-denominated debt.

Third-quarter net income fell to $4.94 billion, or 94 cents a share, from $6.04 billion, or $1.13 a share, a year earlier, Rio de Janeiro-based Vale said late yesterday. The company was expected to post per-share profit of $1.17 excluding some items, the average of 12 analysts in a Bloomberg survey. Vale had a financial loss of $2.19 billion related to the real’s drop, while sales rose 16 percent to $16.4 billion.

Vale dropped to its lowest in more than two months on Oct. 20 after iron-ore prices slumped on concern about slowing demand in China and fear the European debt crisis will spread. ArcelorMittal, the world’s biggest steelmaker, is idling some plants in Europe and South Korea’s Posco will cut spending and reduce costs on weaker demand for the alloy used in cars.

The foreign exchange loss “was a bit higher than originally estimated,” Rafael Weber, an equity analyst at Geracao Futuro Corretora, said in a telephone interview from Porto Alegre, Brazil. “With the appreciation of the real, it will be recovered in the following quarter.”

The real slumped 17 percent in the third quarter, the second-worst emerging market performer after Poland, increasing the value of Vale’s dollar-denominated debt in local currency.
Rising Revenue

Earnings before interest, tax, depreciation and amortization, or Ebitda, climbed 9.2 percent to a record $9.63 billion in the quarter, driven by higher iron-ore, nickel and copper revenue, the company said. Vale said it sold iron ore during the period at an average of $151.30 per metric ton, 18 percent more than the year-earlier period.

The company said it’s confident in the long-term outlook for mineral and metals markets amid global financial turmoil. The recent fall in iron-ore prices is related to higher seasonal supply from Brazil and Australia and China’s credit policy, which affects iron-ore traders by not giving them the option of using their stocks as credit guarantee, it said.

“We foresee prices to remain high for a long period ahead as the global iron-ore market is very likely to continue to show strong fundamentals,” Vale said in the statement. “The main reason for the decline in the net income was the depreciation of the real against the dollar.”

“It’s not that you are taking on more debt, it’s that your liability is going up because of the exchange rate,” Rene Kleyweg, an equity analyst at UBS AG, said in a telephone interview from London Oct. 25. “From a reporting numbers standpoint it means your net income gets dragged back.” He rates the stock a “buy.”
Record at Carajas

This is the first time since the third quarter of 2009 that Vale’s quarterly net income fell from a year earlier.

Third-quarter iron-ore output rose 6.4 percent to a record 87.9 million metric tons, after Carajas, the world’s biggest iron-ore mine, recorded record production of 30.9 million metric tons. Nickel output rose 30 percent to 58,000 metric tons, while copper production climbed 46 percent to a record 84,000 metric tons, the company said. Potash production rose about 7.3 percent to 166,000 tons.

Iron-ore and pellet volumes sold during the quarter fell 1.4 percent to 77.5 million metric tons, the company said, adding that the gap between production and sales was explained by lower iron-ore demand in Brazil, the need to rebuild stocks and the start of a distribution center in Oman.

“Vale needs to continue with its sales at a normal level because accumulating inventories to a high level is bad,” Geracao Futuro’s Weber said.

The company’s net debt as of Sept. 30 rose to $15.4 billion, from $11.2 billion at the end of the previous quarter.

Vale invested $4.53 billion, excluding acquisitions, during the quarter, about 19 percent of its $24 billion spending plan until the first quarter of 2012.

Vale, the world’s second-largest mining company by market value, plans to pay a record $12 billion in dividends and share buybacks this year, boosting capital returns to investors as it faces project delays and cost increases.
Sliding Prices

The company is forecast to post a record $26.5 billion in net income excluding some items during 2011, up from $17.3 billion last year, according to 16 analyst estimates compiled by Bloomberg.

Iron-ore prices for immediate delivery extended their slump this week and fell below $130 for the first time since July 2010 yesterday. The price of ore with 62 percent iron content delivered to the Chinese port of Tianjin declined 3.3 percent to $127.40 a metric ton, its 13th-consecutive drop, according to The Steel Index Ltd.

The cash price fell $10.20 yesterday, or 7.2 percent, its biggest slump since Aug. 20, 2009.

The Chinese economy grew 9.1 percent during the third quarter from a year earlier, the slowest pace since 2009. Vale sold about 45 percent of its iron-ore and pellets to Chinese customers during the third quarter, or about 35 million metric tons, it said yesterday. Europe represented 20 percent of the company’s shipments.

Vale gained 99 centavos, or 2.5 percent, to 40.73 reais in Sao Paulo yesterday. The stock has declined about 16 percent this year, compared with an 18 percent for Brazil’s benchmark Bovespa Index.

(sourced Bloomberg)

Iron ore shortages lead to 71.4% decline in JSW Steel profits

Sat,Oct22, 2011

Mumbai: Indian steel company, JSW Steel announced its Q2 results today, showcasing decline in net profit by 71.4 per cent at Rs. 127.12 crore as compared to Rs. 445.44 crore in Q2 FY10-11, much more than street expectations. The stock market did not react kindly to the results as the company’s share prices declined to Rs. 569.29 before ending at Rs. 580.45, down by 0.37 per cent.

Net sales rose to Rs. 7,625.06 crore from Rs. 5,712.84 in the corresponding quarter of FY11, reflecting a growth of 33.4 per cent on year on year basis (YoY) and a quarter on quarter (QoQ) growth of 8 per cent. Turnover stood at Rs. 8,242.55 crore.

Iron ore shortage has led to lower EBIDTA margin of 17.4 per cent while EBIDTA for the quarter was Rs. 1,332.95 crore, up by 15% over the corresponding quarter of the previous year.

During the current quarter, the Company achieved production of Crude Steel of 1.738 million tonnes, up 11 per cent and saleable steel of 1.882 million tonnes, up 19 per cent. Production was expected to be scaled down to only 30 per cent of capacity. However, the company reported that it lost 4.5 lakh tonnes of output last quarter on iron ore shortage. It also had to purchase 1.9 million tonnes of iron ore in the Karnataka auction.

While, the increasingly high cost of production by Rs. 1,500 per tonne, put pressure on this quarter results, it expects coking coal and iron ore scrap price to moderate, the company said. It also reported a forex loss of Rs. 512.98 crore due to adverse movement in rupee dollar parity.

The steel giant has cut its forecasts for FY12 volume of production guidance and sales guidance by 14 per cent and 13 per cent respectively.


sourced profit.ndtv

California Steel Industries Reports Fourth Quarter and Full Year 2010 Results

FONTANA, Calif., Feb. 10, 2011/PRNewswire

California Steel Industries, Inc. ("CSI") today reported profitable results for the year ended December 31, 2010, with net sales of $1.08 billion and net income of $25.4 million.

These results compare with net sales of $551.8 million and a net loss of $13.1 million for the year ended December 31, 2009.

The net loss for fourth quarter 2010 is $5.5 million, compared with a net loss of $2.3 million in fourth quarter 2009 and net income in third quarter 2010 of $2.0 million. Net sales for the quarter are $227.9 million, or 48 percent higher than fourth quarter 2009's net sales of $153.6 million, but 27 percent less than third quarter 2010's net sales of $313.9 million.

Shipments in fourth quarter 2010 are 279,641 net tons, 26 percent higher than fourth quarter 2009's shipments of 222,242 net tons and 24 percent lower than third quarter 2010 shipments of 365,608 net tons.

For the year, CSI shipped 1,335,256 net tons, 67 percent higher than 2009's shipments of 800,375 net tons.

The Company recorded $4.6 million in fourth quarter 2010 and $12.9 million in fiscal 2010 for writing down inventory to market value as CSI's inventory values are carried at the lower of cost or market (LCM).

"Fourth quarter 2010 results are normally impacted by the lower shipment levels we experience during this period each year," said Vicente Wright, President & Chief Executive Officer.

"But rather than focus on a quarter whose results are cyclical and thus typically diminished from the rest of the year, I look at the total results for fiscal 2010, and recognize the tremendous survival measures taken by our team and the resulting turnaround from 2009," he continued.

"The results for 2010 not only indicate an improvement to business conditions in the US, but also can be directly attributed to our Company's efforts to position itself to meet future changing conditions," Mr. Wright concluded.

EBITDA (as adjusted) for the quarter is $4.0 million, lower than fourth quarter 2009's adjusted EBITDA of $9.1 million, and also lower than third quarter 2010's adjusted EBITDA of $21.3 million.

For the year, EBITDA (as adjusted) is $88.2 million, 52 percent higher than 2009's adjusted EBITDA of $58.2 million.

The balance under the Company's Revolving Credit Agreement was zero as of December 31, 2010, with availability of $110 million. The Company has a cash balance as of December 31, 2010 of $27.7 million.

Results (in thousands, except for billed net tons) are as follows:

	Three Months Ended			Year Ended
	12/31/10	12/31/09		12/31/10	12/31/09
Billed net tons	279,641	222,242		1,335,256	800,375
Net sales revenue	$227,884	$153,563		$1,076,168	$551,808
Cost of sales	$231,510	$151,380		$1,013,891	$561,120
SG&A	$5,535	$4,662		$19,735	$17,481
Operating (loss) income	$(9,583)	$(2,935)		$41,449	$(27,278)
Interest expense, net	$2,631	$1,958		$9,024	$8,159
(Loss) income before tax	$(11,407)	$(3,496)		$35,332	$(26,945)
Net (loss) income	$(5,540)	$(2,291)		$25,394	$(13,101)
Depreciation	$8,215	$7,910		$31,003	$32,458
Cash Flow Information:
Operating Activities	$51,724	$(17,973)		$21,609	$102,458
Investing Activities	$(5,796)	$(14,662)		$(31,118)	$(46,667)
Financing Activities	$(27,700)	$(2,500)		$(24,443)	$(5,000)
EBITDA, as adjusted	$3,989	$9,072		$88,209	$58,172

A reconciliation between cash flows from operations and EBITDA and EBITDA as adjusted will be included in the Company's Current Report on Form 8-K, together with this press release. As noted in the reconciliation, EBITDA as adjusted is EBITDA adjusted to add back an inventory writedown for lower of cost or market adjustments.

Company Information and Forward Looking Statements

California Steel Industries is the leading producer of flat rolled steel products in the western United States (the 11 states located west of the Rocky Mountains) based on tonnage billed, with a broad range of products, including hot rolled, cold rolled, and galvanized sheet and electric resistant welded pipe. Located in Fontana, California, CSI has slightly less than 900 employees. For more information, please visit our website at www.californiasteel.com.

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Actual outcomes and results may differ materially from what is expressed herein. In evaluating any forward-looking statements, please carefully consider factors that could cause actual results to differ materially from the expectations of the company or its management. For a more detailed discussion of these factors, please see the company's most recent filings with the Securities and Exchange Commission. In particular, we direct your attention to our most recent Form 10-K, in particular Item 1 with respect to the general discussion of factors affecting our business, Item 7 with respect to "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Item 7A with respect to "Quantitative and Qualitative Disclosures about Market Risk". The company undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.

SOURCE California Steel Industries, Inc.