Page 10 - Coal India

Domestic coal prices match international trends without raising power bills

Linkage policy gives power plants assured supply of the fuel while giving them more scope to sell electricity in exchange market

Coal India to phase out mining equipment imports in 6 years, says govt

State-owned CIL, which has imported high-capacity mining equipment worth Rs 3,500 crore in the past five years, has drawn up a plan to phase out such inbound shipments over the next six years, the government said on Thursday. The move aims to encourage and develop domestically manufactured equipment, it said. "Currently, Coal India Ltd (CIL) imports high-capacity equipment, such as electric rope shovels, hydraulic shovels, dumpers, crawler dozers, drills, motor graders, and front-end loaders wheel dozer, valued at Rs 3,500 crore, incurring additional expenses of Rs 1,000 crore in customs duty," the coal ministry said in a statement. These equipment were imported over the past five years. To curb these imports and boost domestic manufacturing, CIL has devised a strategy to phase out imports gradually over the next six years, it said. Notably, high-capacity machines are already being procured from domestic manufacturers. With a strong commitment to reduce the country's dependence o

Strong market outlook to keep Coal India stock at elevated levels

The adjusted operating profit increased 11 per cent y-o-y to Rs 8,900 crore, owing to lower-than-expected employee costs, lower contractual expenses, and input costs

Sensex drops 326 pts, Nifty below 19,450; PSBs, metals rally, IT sinks

Closing Bell on November 13, 2023: SBI Life, Bajaj Finance, Grasim, Infosys, Nestle India, Apollo Hospitals, Tech M, ICICI Bank, and HDFC Bank were the top laggards

Stocks to Watch today, Nov 13: Protean, Sun TV, CIL, ONGC, BF Utilities

Stocks to Watch on Monday, November 13, 2023: Shares of Protean eGov Technologies will list on the bourses today

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

Coal India identifies 20 abandoned mines for pump storage projects

The government on Friday said more than 20 abandoned mines have been identified by state-owned CIL for evaluation and feasibility study for pump storage projects. The information was shared by Coal India Ltd (CIL) during a diversification review meeting held by Coal Secretary Amrit Lal Meena. State-owned NLCIL has also taken up a feasibility study on pump storage projects, the coal ministry said in a statement. Pumped storage power plants use gravity to generate electricity using water that has previously been pumped from a reservoir in the pit into an upper reservoir. During periods of low demand, the water is pumped into the higher reservoir. When demand is high, the water is released to drive a turbine in a powerhouse and feed electricity into the grid. Over 200 de-coaled mines with huge land area are available in coal producing areas. Many of these mines are feasible for pump storage projects. Further, direction has been given for stakeholders consultation with agencies who m

CIL gives extension to Debasish Nanda as Director, Business Development

State-owned CIL on Wednesday said it has given extension to Debasish Nanda, who at present is company's Director, Business Development. The extension has been given to Nanda, who is at present company's Director, Business Development, for a period of six months effective November 2, 2023 or till the appointment of a regular incumbent or until further orders, whichever is earliest, Coal India Ltd (CIL) said in a regulatory filing. Nanda took over as CIL's first Director, Business Development last year. Before joining CIL, Nanda was working as Executive Director (Gas) in Indian Oil. Nanda, a graduate in mechanical engineering from UCE Burla, Sambalpur University, a post graduate in production engineering from REC Rourkela and a Masters in International Business from IIFT, New Delhi. He joined Indian Oil in 1988 as a management trainee in the marketing division and spent 11 years in marketing of Servo lubricants.

SECL leads Coal India subsidiaries in cleanliness and scrap disposal

The Chhattisgarh-based arm of CIL has so far cleaned more than 90 sites in the headquarters and various operational areas

Coal India, GAIL, RCF to partner to invest $372 mn in fertiliser JV

NEW DELHI (Reuters) - State-run firms, Coal India, GAIL India, and Rashtriya Chemicals & Fertilizers (RCF), will invest 30.95 billion rupees ($371.90 million) in their fertiliser joint venture in Odisha, two government officials told Reuters.

Festive demand: Coal India's fuel supply to thermal plants rises 6% in Oct

State-owned Coal India on Monday said its supply of fossil fuel to the country's coal-fired electricity generating units increased by six per cent to 23.5 million tonnes in the first half of October, ahead of the festive season. The supply was increased amid a sudden rise in power demand even as unseasonal rains hit the operations in coal bearing areas of Coal India's arms based in the eastern part of the nation. Chattishgarh-based South Eastern Coalfields Ltd (SECL) also bore the brunt of the inclement weather, it said. Coal supply to thermal power plants stood at 22.2 million tonnes during the same period of the last financial year. "Coal India's (CIL) supplies to thermal power plants of the country shot up close to six per cent to 23.5 million tonnes (MTs) during the first fortnight of October 2023... Comparatively the supplies were 22.2 MTs in the same period of October 2022," the public sector coal producer said in a statement. The overall supply of dry fuel by CIL to the ...

Stocks to Watch today: Vedanta, JSW Infra, UTI AMC, Autos, MGL, Adani Green

Stocks to Watch on Tuesday, October 3, 2023: JSW Infrastructure will debut on the bourses on October 3, 2023

Metal stocks rally defies global peers, not backed by fundamentals

Metal stocks continued to rally last week, despite weakness in the overall market

State-owned Coal India's production rises 12.6% to 51.4 mn tonnes in Sept

State-owned CIL on Monday reported a 12.6 per cent year-on-year rise in coal production to 51.4 million tonnes (MT) last month. The PSU had produced 45.7 MT of coal in the year-ago period, Coal India Ltd (CIL) said in a BSE filing. The company's output in the April-September period also increased by 11.3 per cent to 332.9 MT against 299 MT a year ago, it added. CIL's offtake in September increased by 12.6 per cent to 55.1 MT compared to 48.9 MT in the corresponding month of the previous fiscal. The offtake of the Maharatna firm in the April-September period also went up by 8.6 per cent to 360.7 MT against 332 MT in the year-ago period. Coal offtake is the amount of dry fuel supplied from the coal pitheads. Coal India accounts for over 80 per cent of domestic coal output.

Stocks to Watch today, Sep 13: Infosys, Vedanta, BoB, Paytm, KEC, SpiceJet

Stocks to watch on Wednesday, September 13, 2023: Steel stocks too may see some action India and the US plan to enable exports of at least 336,000 tonnes of certain steel and aluminium products withou

Coal India to invest Rs 24,750 crore in 61 eco-friendly projects

CIL in 2021 had planned 35 FMC projects with a capacity of 414.5 MTPA. Out of these, currently 8 FMC projects of 112 MTPA capacity are already operational

Coal India output grows 13% to 52.3 MT in Aug, supply up 15% at 59 MT

Coal India Ltd (CIL) on Friday posted a 13.2 per cent growth in its output at 52.3 million tonnes (MT) in August 2023 compared to 46.2 MT in the year-ago month. The supplies rose to 59 MT in August 2023 from 51.2 MT in the same month last fiscal, registering a rise of 15.3 per cent, the company said in a statement. In FY2023-24 so far, the state-owned coal miner produced 281.5 MT, posting an 11.1 year-on-year growth. During April-August 2023, total coal off-take rose by 8 per cent to 305.5 MT compared to 283.1 MT in the same period of the last year. In August, the supplies to the power sector at nearly 47 MT increased by nearly 8 compared to 43.6 MT of the same month last year. Against the commitment of 1.44 MT per day, the company supplied 1.515 MT per day to the power sector. During April-August 2023, the coal-fired plants received 248.7 MT of coal from CIL, around 2 per cent higher from 243.5 MT a year ago. Coal inventory at CIL's pitheads stood at a comfortable 45.3 MT as of

CIL's arm SECL inks agreement for maiden open-cast mine in Chhattisgarh

The spokesperson said the MDO model would help achieve the CIL's 1 billion tonne production target

Enough stock available to meet any sudden increase in demand: Coal India

Coal India Limited (CIL) Chairman and Managing Director P M Prasad on Wednesday said that sufficient coal stock is available in the country and the company is ready to meet any sudden increase in demand. Prasad told shareholders at the 49th AGM that the company is working on a number of initiatives to increase its production capacity, including the development of new mines and the expansion of existing ones. CIL is committed to meeting the country's growing demand for coal and is ready to address any sudden surge in demand, he said. On Tuesday, the coal ministry reviewed the dry fuel's production and offtake in a meeting with senior officials due to the surge in power demand across the country. The country has sufficient coal stocks, with almost 80 million tonnes of coal available with thermal power plants and Coal India, Coal Minister Prahlad Joshi had said. Speaking about FY23 performance, Prasad said that CIL produced a record 703.2 million tonnes (MT) of coal in the fiscal yea

Trials for Coal India's in-house e-auction platform successful: Officials

The trials for Coal India's in-house e-auction platform have been carried out satisfactorily, and the mechanism can have a full-fledged rollout across the company's coal-producing subsidiaries, officials said Sunday. A total of seven trial auctions involving nearly 18 million tonnes of coal have been conducted, they said. The mining major has entrusted its wholly owned subsidiary Central Mine Planning & Design Institute (CMPDI) to rollout the in-house e-auction system, with technical assistance from the National Informatics Centre. At present, external agencies like MSTC and mjunction are in agreement with Coal India to execute e-auctions of coal. "During initial trials, there were some teething issues that were resolved by CMPDI and NIC officials. In subsequent e-auctions, the trials were conducted smoothly. The entire system is automated, without any manual intervention," one of the officials said. "The charges are levied as per directions of Coal India," he said. CMPDI has ...