 "Coal India hits new low on missing production target")
Coal India has plunged 6% to Rs 253, its lowest level since listing in November 2010 on BSE, after the company missed production target for the third month in a row.
Coal India said the company and its subsidiary produced 32.77 million tonnes (MT) of coal in July, missed the months target of 33.44 MT.
Between April and July 2013, the company produced 135.64 MT of coal against target of 140.32 MT during the period.
However, the company said the offtake in July was 38.22 MT against the target of 36.07 MT. On cumulative basis, offtake stood at 153.47 MT against the target of 156.86 MT, it added.
The sales were affected due a variety of issues including heat waves in Orissa and the recent heavy flood in central India as well as issues with NTPC's couple of plants.
Meanwhile, Coal India will announce its April-June (Q1) quarter earnings tomorrow.
The stock opened at Rs 271 and has seen a combined 1.5 million shares changing hands on the counter till 1324 hours on BSE and NSE.
Coal India said the company and its subsidiary produced 32.77 million tonnes (MT) of coal in July, missed the months target of 33.44 MT.
Between April and July 2013, the company produced 135.64 MT of coal against target of 140.32 MT during the period.
However, the company said the offtake in July was 38.22 MT against the target of 36.07 MT. On cumulative basis, offtake stood at 153.47 MT against the target of 156.86 MT, it added.
The sales were affected due a variety of issues including heat waves in Orissa and the recent heavy flood in central India as well as issues with NTPC's couple of plants.
Meanwhile, Coal India will announce its April-June (Q1) quarter earnings tomorrow.
The stock opened at Rs 271 and has seen a combined 1.5 million shares changing hands on the counter till 1324 hours on BSE and NSE.
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