Page 3 - Coal India Ltd

Robust production, new initiatives to drive growth for Coal India

NRS offtake may remain high, leading to higher blended realisation because power plants with FSA have sufficient supply

Coal India's production increases by 8% during the first quarter

The Union Ministry of Power has mandated the import of coal for blending at thermal power plants to continue till October 2024

State-run Coal India's production rises by 8% to 189 MT in first quarter

State-owned CIL's coal production rose 8 per cent to 189.3 million tonne (MT) in the first quarter of the ongoing financial year. The company's coal output was 175.5 MT in April-June period of the previous fiscal. "Moving past the target of 189.2 MT, CIL achieved 100 per cent satisfaction in Q1 of the current fiscal year," Coal India Ltd (CIL) said in a statement. While all the seven producing subsidiaries of the coal behemoth achieved positive growth, five of them breached their respective targets. The company's production in June increased by 9 per cent to 63 MT, over 58 MT produced in June FY24. On the back of a strong production growth and increased coal loading, CIL's total supplies rose to 198.4 MT during April-June FY25 with 6 per cent year-on-year growth. The increase of 11.4 MT in absolute numbers came over a high base of 187 MT. At a time when power demand in the country is spiking, CIL's supply to coal-fired plants grew 4 per cent to 160 MT during the first quarter of

Coal India awards 23 discontinued underground blocks to private miners

State-owned Coal India on Wednesday said it has awarded 23 discontinued underground blocks to private miners through an auction route on revenue sharing model. The cumulative peak rated capacity of these mines is 34.14 million tonnes per year while the total extractable reserves are estimated at 635 MT, the miner said in an exchange filing. "Coal India Limited (CIL) in a bid to tap the latent coal reserves of some of its closed and discontinued underground mines has awarded 23 such mines on revenue sharing model to successful bidders of the private sector," it said. Earlier, CIL had identified a total of 34 discontinued mines where good quality coal reserves are lying dormant but may not be financially viable for CIL to mine them. Hence, the company said it decided to tender and offer these mines to willing private sector players who are prepared to operate and produce the dry fuel and share part of the revenue with the company. "Successful bidder is the one who offers the maximum

Coal production in India rises 10% to 83.91 mn tonnes in May: Govt data

The country's coal production rose by 10.15 per cent to 83.91 million tonnes (MT) in May compared to 76.18 MT in the year-ago period. Coal production by state-owned CIL rose by 7.46 per cent to 64.40 MT in May compared to 59.93 MT in the year-ago period, according to the Coal Ministry's provisional data. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. "Additionally, coal production by captive and other entities in May 2024 stood at 13.78 MT (provisional), reflecting a growth of 32.76 per cent from the previous year, which was 10.38 MT," the ministry said in a statement. Similarly, India's overall coal dispatches in May reached 90.84 MT, up by 10.35 per cent as against 82.32 MT reported in the same period last financial year. During the reported month, CIL dispatched 69.08 MT of coal, with a growth of 8.50 per cent compared to the corresponding period of the previous fiscal when it was 63.67 MT. The total stock of dry fuel with coal companies stands at

Mines ministry asks Coal India, NMDC to look for lithium mines overseas

Ministry will lead a delegation to Zambia in June and later to Congo to explore joint ventures in critical minerals

Coal India rallies 4% on decent quarter; brokerage retains 'Buy' on stock

At 11:43 AM, the shares of Coal India were trading 3.41 per cent higher at Rs 468.70 per share on the BSE. In comparison, the S&P BSE fell 0.66 per cent to 74,117 levels

BSE Metal index surges 3% as base metals climb to multi-year highs

Metal stocks top performers: Here's why metal stocks were in demand on the Dalal Street on Wednesday.

Bajaj Auto, TaMo: Strategies for Nifty50 stocks that doubled in FY24

4 out of the Nifty50 stocks zoomed over 100 per cent in FY24; as per technical charts, here's are the key levels that should be closely monitored.

India to build 2 billion-tonne coal stock by 2030, then hit pause button

According to the projections of the Ministry of Coal, the demand for coal will be close to 1.5-1.8 bt by 2030

State-owned Coal India's capex rises 7.6% to Rs 10,492 cr in Apr-Nov period

State-owned CIL on Tuesday said that its capital expenditure increased by 7.6 per cent to Rs 10,492 crore in the first eight months of the ongoing financial year. The public sector enterprise's captital expenditure was Rs 9,751 crore in the year-ago period, Coal India Ltd (CIL) said in a BSE filing. "CIL's capital expenditure increased by Rs 741 crore in eight months ending November FY 2024 to Rs 10,492 crore," the company said in a statement. Coal India accounts for over 80 per cent of domestic coal output. "We are striving to achieve around 80 per cent of the current financial year's total targeted capex of Rs 16,500 crore by the third quarter ending December," a senior executive of the company said. CIL's intensified focus on strengthening coal evacuation infrastructure in its mining areas saw the capex going up to Rs 3,247 crore, representing 31 per cent of the entire capex, till November in the current fiscal. "Setting up railway sidings and corridors at Rs 1,842 crore; ...

Coal India Q2 results: Consolidated net profit rises 12.5% to Rs 6,799 cr

Coal India Ltd accounts for over 80 per cent of domestic coal output

Stocks to Watch today, Aug 09: Adani Group, CIL, IRCTC, Tata Power, Siemens

Stocks to watch on August 09, 2023: Shares of Adani Enterprises and Adani Wilmar are likely to be in focus on Wednesday amid reports of stake sale in the latter company.

CIL eyes Rs 2,703-crore incremental revenue with 8% thermal coal hike

Pramod Agrawal, CMD, CIL, had confirmed plans to hike coal prices

These 3 PSU stocks can soar 20% as Nifty PSE index hits new all-time high

Coal India, Hindustan Aeronautics and GAIL (India) have chart structures suggesting further upside of up to 20%

Post impressive Q2 results: SBI, Coal India look set for up to 21% rally

Coal India, SBI and Adani Enterprises continue to trade with a robust bullishness, while TVS Motor and Bajaj Finance seem to be struggling to hold their ground, technical charts show.

Coal pensioners protest in capital, demand review of pension scheme

Agitators seek dearness relief as scheme component to ensure equitable pension; want adherence to provisions of CMPS 1998 on review and revision of pension every three years

Govt offers Coal India flexibility to levy mine closure costs to consumers

Coal India Ltd (CIL) has been given freedom to pass mine closure costs on to consumers, but has not taken any such step yet, a company official said on Monday. The Maharatna PSU may consider "levying an additional fee on per tonne basis to be paid by the coal consumers to meet the cost of mine closure with the approval of the board and to provide funding for those subsidiaries which are not able to fund the closure of these mines", an official said quoting a Coal ministry notification. "Coal India has not taken any decision about levying such charges on coal sales as of now," the official said. The Kolkata-headquartered company has created a provision of Rs 7,238 crore as on March 2022 and incurred Rs 494 crore on mine closure during 2021-22, its annual report stated. The miner had produced 622 million tonnes of coal in 2021-22 and was pursuing a target of 700 million tonnes in the current fiscal. "As per guidelines, typically mine closure cost is around Rs 9 lakh/hectare for open

India considers selling small stakes in its mammoth coal, zinc miners

The government is looking to sell 5%-10% in Coal India Ltd, Hindustan Zinc Ltd, Rashtriya Chemicals and Fertilizers Ltd via the so-called offer-for-sale mechanism

Coal India banks on South Eastern Coalfields for output in Chhattisgarh

CIL has set a target of 700 million tonnes (MT) for FY23