Coal India gained 1.26% to Rs 124.25 after the coal major on Monday announced that its board has approved to enhance the non-coking coal price by Rs 10 per tonne for regulated and non-regulated sectors.
Coal India said the price hike, towards contribution to the corpus of Coal Mines Pension Scheme (CMPS) 1998, will come into effect from 1 December 2020.Meanwhile, CIL announced that four trade unions have served one-day strike notice in company and its subsidiaries on Thursday, 26 November 2020. The PSU firm said that efforts would be made to avert the strike and conciliatory process is going on.
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.
The state-run coal major's consolidated net profit dropped 16.2% to Rs 2,951.60 crore on 2.6% increase in net sales to Rs 19,484.15 crore in Q2 September 2020 over Q2 September 2019.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
