Coal India is trading higher by 2.4% at Rs 339 on reports that the company's board will meet again today to approve the new draft fuel supply agreement for power plants as directed by the Prime Minster's office.
The company's board meeting, held on March 22, had remained inconclusive in the wake of its independent directors resenting a clause in the FSA for ensuring at least 80% supply of the commitment to the power plants.
Earlier in February, Prime Minister Manmohan Singh, directed Coal India to sign FSAa with power plants to ensure supply of coal to private companies in the power sector.
The stock opened at Rs 330 and touched the high of Rs 339 in intra-day deals so far. As many as 1,50,000 shares have changed hands on the BSE compared to its two-week average of 6,70,000 shares.
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