Coal India gains after signing agreement with Solar Energy Corporation

Coal India rose 0.71% at Rs 313.65 at 09:21 IST on BSE after the company announced signing two agreements with Solar Energy Corporation of India for implementation of solar power project in Madhya Pradesh.

The announcement was made after market hours yesterday, 29 June 2016.

Meanwhile, the S&P BSE Sensex was up 194.25 points or 0.73% at 26,934.64

On BSE, so far 12,000 shares were traded in the counter as against average daily volume of 5.05 lakh shares in the past one quarter. The stock hit a high of Rs 315 and low of Rs 313.25 so far during the trading session. The stock had hit record high of Rs 447.25 on 5 August 2015. The stock had hit 52-week low of Rs 272.05 on 12 April 2016.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Coal India and Solar Energy Corporation of India (SECI) signed two agreements yesterday, 28 June 2016, for implementation of 200 megawatts (MW) solar power projects in Madhya Pradesh for the beneficial utilisation of solar power by Northern Coalfields (NCL) and South Eastern Coalfields (SECL) at an estimated cost of Rs 650 crore. NCL and SECL are subsidiaries of Coal India.

Coal India's consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.1% fall in net sales to Rs 20759.45 crore.

Coal India is an organized state-owned coal mining corporate. The Government of India holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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