Coal India gains on higher production in October

Coal India (CIL) rose 1.09% to Rs 115.45 after the company on Sunday, 1 November 2020 reported higher coal production and offtake figures for October 2020 over the previous corresponding period.

On a provisional basis, the company's coal production jumped 18.7% to 46.8 million tonnes (MT) in October 2020 from 39.5 million tonnes (MT) in October 2019. CIL's coal offtake in October 2020 stood at 50.5 million tonnes (MT), recording a 25% growth from 40.4 million tonnes (MT) in October 2019.

CIL is a coal mining company, which is engaged in the production and sale of coal. As of 30 September 2020, the Government of India held 66.13% stake in the company.

 

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