Coal India moves higher after reporting production, offtake numbers

Coal India rose 1.26% to Rs 310.30 at 9:56 IST on BSE after the company announced provisional production and offtake numbers for the month of November 2016.

The announcement was made after market hours yesterday, 1 December 2016.

Meanwhile, the S&P BSE Sensex was down 156.04 points or 0.59% at 26,403.88.

On the BSE, 87,000 shares were traded on the counter so far as against the average daily volumes of 3.67 lakh shares in the past one quarter. The stock had hit a high of Rs 311.90 and a low of Rs 307.40 so far during the day.

The stock had hit a 52-week high of Rs 349.85 on 17 August 2016 and a 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 its subsidiaries achieved 93% of targeted production at 50 million tonnes in November 2016. The company achieved 97% of targeted offtake at 48.16 million tonnes in November 2016.

Coal India's consolidated net profit fell 14.8% to Rs 3065.28 crore on 6.1% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015. The company is scheduled to announce its Q2 September 2016 results on 13 December 2016.

State-run Coal India is India's biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 September 2016).

Powered by Capital Market - Live News