The Supreme Court on Wednesday has cancelled 214 coal blocks, which were declared illegal by it in a previous judgement. The apex court has exempted 4 coal blocks allocated to SAIL, NTPC and Sasan UMPP from cancellation.

Commenting on court ruling on coal block allocation, Anand Rathi Research said, ''Of the 218 coal blocks allocated by the previous government, the Supreme Court has de-allocated 214. In the past few months economic and political improvements have boosted market sentiment.''

''The judgement would be neutral on economic growth and inflation, with some impact on merchandise trade deficit and current-account deficit. It could impact sentiment, however, and foreign and domestic investment too. Banks, which lent money to power producers, could see these loan accounts turn non-performing,'' it added.

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