Coal India gains on plans of establishing washery in Jharkhand

State-run Coal India is trading higher by nearly 2% at Rs 336 on the Bombay Stock Exchange (BSE) after company invited bids from international companies in order to establish a washery in Jharkand. 

The move is made by the company to benefit its customers including power plants with high quality coal.

The washery would be set up under build-operate-maintain (BOT) model. 

"Tenders are invited from reputed and experienced bidders through e-tendering on CIL portal for the work of setting up of 7.0 MTY non-coking coal Konar Washery at B&K area of CCL on 'Build-Operate- Maintain'(BOM) concept," Central Coalfields Ltd (CCL), a Coal India (CIL) subsidiary, said.

 

Meanwhile, Coal India is due to post its Q2 numbers later during the day.

The stock opened at Rs 331 and touched a high of Rs 336 on the BSE. A total of 98,440 shares changed hands on the BSE so far.