You are here: Home » Companies » News
Business Standard

Coal India subsidiaries to have autonomy in base e-auction price from Nov

Coal India subsidiaries will have autonomy in fixing the base price for e-auction coal from November depending on demand, sources said on Monday.

Topics
Coal India

Press Trust of India  |  Kolkata 

Coal India

subsidiaries will

have autonomy in fixing the base price for e-auction coal from November depending on demand, sources said on Monday.

Currently, the base price is kept aligning with the notified price but with the realisation trend improving, the dry fuel miner has decided to allow the respective subsidiaries to fix the base price depending upon their ground situation, the sources said.

The latest e-auctions from Central Coalfields and Eastern Coalfields are fetching high premium and going forward expects 15-20 per cent premium from auctions as demand remains strong in September and October.

The company recently said coal allocation under its four e-auction windows registered about 65 per cent year-on- year rise during the first half of the current financial year.

"Ltd (CIL) booked 41.4 million tonnes raw coal in e-auctions during April-September 2020, compared with 25.1 million tonnes booked in the corresponding period last fiscal," the miner said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, October 19 2020. 20:48 IST
RECOMMENDED FOR YOU
.