Page 15 - Coal India

Sensex, Nifty end flat; Broader market outperforms, Titan gains 3%

CLOSING BELL: Auto majors - Maruti and Mahindra & Mahindra were the other prominent gainers among the Sensex 30, while Bharti Airtel and Tata Steel declined around a per cent each

Coal India to meet 700 MT production target of FY23, says chairman

Coal India Chairman Pramod Agrawal on Tuesday exuded confidence that the PSU will achieve the production target of 700 million tonnes for the current financial year. Coal India (CIL) accounts for over 80 per cent of the domestic coal output. I am confident...Coal India will achieve the 700 million tonne coal production target this financial year, the chairman was quoted as saying in a statement. Addressing virtually a team of CIL-arm MCL, Agrawal congratulated company officials for registering a growth of 15.9 per cent over the targeted production of coal, which is almost 19 million tonne. Stating that the demand for power will increase in coming days, Agrawal said, There will be increased demand for coal from Coal India, and MCL, which is successfully supplying about 435,000 tonne of coal daily to the power sector, will have to increase its contribution.

CIL's coal quality soars 18%, tech in place to improve the quality further

There has been improvement in conformity to declared grade of coal supply from Coal India Ltd sources, with figure jumping to 69% in 2022-23 as against 51% in 2017-18, the Coal Ministry said

Mukesh Choudhary takes over from Reddy as Coal India's Director, Marketing

State-owned CIL on Monday said Mukesh Choudhary has taken over as its Director, Marketing. He assumed charge on December 23, Coal India Ltd (CIL) said in a statement. Prior to this, he was Deputy Director General, Department of Defence Production, Ministry of Defence. Choudhary took the charge from B Veera Reddy, Director (Technical) CIL who was additionally officiating as Director (Marketing) since May this year. An officer of Indian Ordnance Factory Services (IOFS) 1996 batch, Choudhary is a mechanical engineering (honours) graduate. He also holds a Master of Financial Analysis (MFA) degree and an MBA degree. Choudhary is well versed in the finer nuances of the country's coal demand supply chain and of CIL's marketing system on the back of his six-and-a-half years exposure as director, coal production and despatch, in the coal ministry. His functions at the ministry included monitoring coal supplies, transport logistics and marketing policies. He also served on the boards of

2023 could be another strong yr for coal as demand may reach record levels

Coal India, companies with captive coal mines in steel, power and other sectors will be at an advantage

Coal India's 7 projects to be developed by MDOs for import reduction

State-owned CIL on Wednesday said it has issued orders for seven coal projects to be developed by mine developer and operators (MDOs). The objective of engaging MDOs through open global tenders is to augment domestic coal production and reduce reliance on import to extent possible. "Coal India Limited (CIL) has issued letters of acceptance for seven coal projects to be pursued through engagement of Mine Developer and Operators," the maharatna firm said in a statement. Of these seven projects, three belong to CIL arm Central Coalfields Ltd (CCL) and two to Mahanadi Coalfields Ltd (MCL)--another subsidiary of CIL. South Eastern Coalfields Ltd and Eastern Coalfield Ltd account for a solitary project each. The coal behemoth is tracking a total of 15 new coal projects to mine coal through MDOs. CIL will invest Rs 20,600 crore on land acquisition, rehabilitation and resettlement issues, and in some cases on railway sidings as well. The role of MDOs would be to excavate, extract and del

Higher output could boost Coal India's spot sales, says Pramod Agrawal

"I think in the first half, we have done a little over 30 million tonnes. In the next half, our e-auction sales may go up to 40 million tonnes," Chairman Pramod Agrawal said

Given directions to Coal India to conclude wage pact: Pralhad Joshi

Coal minister Pralhad Joshi has given directions to Coal India to conclude the wage pact of its non-executive workforce at the earliest. The minister has said that all pending issues should be sorted out and emphasised that he would not allow the trade unions to go on strike on the issue. Wages of non-executive workers, who account for over 90 per cent of Coal India's (CIL) workforce, are revised every five years. Workers are seeking a 28 per cent increase in wages, while Coal India has offered a 10.5 per cent raise, according to a union leader. "Normally the agreement takes place between Coal India and labour unions... I have told management (of Coal India) to have a cordial relation with them and have a cordial meeting with them and sort out the issue. I want that whatever the issues are pending should be sorted out," Joshi told PTI. Stating that from the past five-six months the negotiations between Coal India management and trade unions on wage revision are underway, the minis

Coal India's production rises 17% to 412.6 MT in April-Nov period

State-owned CIL on Thursday said it produced 412.6 million tonnes of coal in the April-November period of the current fiscal and expressed confidence that it will surpass the the output target set for the current financial year. The PSU had produced 353.4 MT in the April-November period of the last financial year. Coal India Ltd (CIL) which accounts for over 80 per cent of domestic coal output is eyeing a production of 700 million tonnes (MT) in the current financial year. "This is achievable", said a senior official of CIL. The coal behemoth has to produce 287.4 MT of coal during the remaining four months of the current fiscal to reach its output target for the current fiscal. "With strong augmentation in production so far and overburden removal displaying robust growth that helps in faster extraction of coal in the coming months, we feel confident of surpassing the fiscal's production target. Also, during Q4 production steps up into a higher trajectory," the official added. The

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Stocks to Watch Today: Newly listed Fusion Micro Finance and Five-Star Business are likely to be in focus on the back of strong Q2 performance reported by the companies.

Coal India to boost production; aims to achieve FY23 output target

State-owned Coal India on Friday said it will further boost production in the coming months and is optimistic that the company will achieve the output target set for the current financial year. Coal India (CIL), which accounts for over 80 per cent of domestic coal production, is eyeing an output of 700 million tonnes (MT) for FY'23. "We began FY'23 requiring 78 MT jump in volume terms to touch the target of 700 MT. As of November 24, the company has already achieved an increase of nearly 58 MTs. "In the ensuing months we aim to sustain the tempo and further scale up the production and feel upbeat about achieving the target," the PSU said in a statement. Following the end of the monsoon season, most of the mines have been dewatered. The festive season is also over. There will be greater availability of machines and manpower leading to better production and productivity in the coming months, the company said. The PSU produced 400 million tonnes (MT) of coal as on November 24 of the

Coal India banks on South Eastern Coalfields for output in Chhattisgarh

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

Coal India targets 50 MT sales through e-auction in second half of FY23

Coal India is targeting 50 million tonne sales through the e-auction route in the second half of the current fiscal, a top company official said on Wednesday. The coal behemoth had sold around 30 million tonne via e-auction in the first six months of the 2022-23 financial year. "We are targeting another 50 million tonne in e-auction sales for the year," Coal India Chairman Pramod Agrawal said on the sidelines of Global Mining Summit 2022, organised by CII here. Coal India's e-auction sales were at 108 million tonne in 2021-22. In the July-September quarter of the current fiscal, the miner had sold 10.36 million tonne of coal via e-auction, and the average realisation was Rs 6,061 per tonne. The Maharatna PSU sold 141 million tonne of the dry fuel through the fuel supply agreement in the three months that ended on September 30, 2022 with an average realisation of Rs 1,413 per tonne. During the programme, Agrawal said the Kolkata-headquartered company has been focused on evacuation

Equity MFs book gains in October winners amid Rs 6,300 cr net purchases

Coal India, HCL Tech and L&T were among the most-sold stocks by domestic funds in October even as they rallied between 10% and 16%

Coal India's capital expenditure rises 33% to Rs 7,027 crore in Apr-Sep

Coal India Ltd on Wednesday said its capital expenditure grew 33 per cent to Rs 7,027 crore in April-September FY23 as compared to the year-ago period. The company's capex in the year-ago period stood at Rs 5,300 crore. The two coal evacuation infrastructure heads - setting up of coal handling plants (CHP)/silos and railways lines - together accounted for 36 per cent or Rs 2,547 crore of the total capex in the period under review, CIL said in a statement. "Capex push is essential for long-term growth prospects. To align the increasing production with robust transportation logistics, CIL is fast-tracking the development of its coal evacuation system. This would help in handling the seamless movement of coal in future," a senior executive of the PSU said. Construction of CHPs/silos under first mile connectivity was the major capex head at Rs 1,489 crore during the six-month period of FY23, as compared to Rs 614 crore a year ago. This affirms the company's intention to put in place

How govt's tight control is slicing away Coal India's creamy layers

Larger shares of the state-owned miner's production are sold significantly below global benchmark prices, deterring global investors from participating in divestment plans

Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

The company's profit for the first half of the fiscal year spiked 143 per cent to Rs 14,878 crore

Coal India Q2 profit rises 106% to Rs 6,044 crore, net sales up 29%

Coal India Ltd on Monday reported a consolidated net profit of Rs 6,044 crore for the second quarter ended September 2022, a jump of 106 per cent over the corresponding quarter profit of Rs 2,932 crore registered last year. The miner registered net sales of Rs 27,538 crore for the quarter under review, a rise of 29 per cent in the same quarter of the previous year's net revenue of Rs 21,292 crore. Higher demand for coal due to global shortage has helped better auction realisations. On a sequential basis, the net profit declined from Rs 8,834 crore in the previous June quarter (Q1 FY23). The total expense during the quarter was Rs 23,770 crore while it was Rs 20,424 crore in the corresponding quarter of FY22. The dry fuel miner sold 10.36 million tonnes through e-auctions in the September quarter with an average realisation of Rs 6,061 per tonne. Regulated sales stood at 141.64 million tonnes. The raw coal production during the second quarter improved to 139.22 million tonnes as .

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Stocks to watch today: Coal India, Divi's Lab will report the July-September quarter (Q2FY23) results on Monday, November 7; SBI's net profit climbed 73.9 per cent YoY to Rs 13,265 crore in Q2FY23

South Eastern Coalfields tops in coal output among CIL subsidiaries

South Eastern Coalfields (SECL), the highest coal-producing company among the eight entities of CIL over the years, was outshined by Odisha-based Mahanadi Coalfields (MCL) in FY22