Page 6 - Coal India

Coal India's production decreases marginally to 74.1 MT in February

State-owned Coal India Ltd (CIL) recorded a marginal 0.9 per cent decline in coal production in February compared to the year-ago period. The company's' coal production stood at 74.1 MT in February this fiscal, down from 74.8 MT in the corresponding month of previous fiscal. The company's production in the April-February period was 695.3 MT over 685.1 MT in the year-ago period, CIL said in a filing to BSE. Coal India accounts for over 80 per cent of domestic coal output. The cumulative coal production during April-February period was at 928.95 million tonnes, registering an increase of 5.73 per cent, over 878.55 MT of fossil fuel produced in the year-ago period, the coal ministry said in a statement. The cumulative coal dispatch during the April-February period rose to 929.41 MT, registering a growth of 5.50 per cent from 880.92 MT produced in the corresponding period of previous year, the ministry said. "This robust performance underscores India's commitment to energy security a

Strong volume recovery likely to drive upgrades for Coal India's stock

NCL is the third largest subsidiary with sales of 138 million tonnes in FY24, contributing 18 per cent of CIL's total sales volume

Steep hike in cess to pay for higher pension costs darkens outlook for CIL

JP Morgan recently cut the per-share target price of the state-owned firm by almost Rs 35, largely on account of a 250 per cent increase in cess on each tonne of coal output

Coal India share slips 5% after production drops to 78.4 MT in January

Coal India share price slipped 4.87 per cent at Rs 366.55 a piece on the BSE in Monday's intraday trade after the company's coal production in January stood at 77.8 million tonnes, down 0.8 per cent y

Five Coal India arms including SECL miss production target for Apr-Dec

Five subsidiaries of Coal India, including SECL, CCL and ECL, have not met their production targets for April-December period of this fiscal year. Against the target of 133 million tonne (MT) set for April-December period, South Eastern Coalfields Ltd (SECL) produced 111.54 MT of coal. The output by Central Coalfields Ltd (CCL) was 57.73 MT against the target of 66.48 MT. In the case of Bharat Coking Coal Ltd, the production was 29.07 MT against the target of 31.90 MT. Eastern Coalfields Ltd's (ECL) actual production was 33.82 MT while the target was 35.35 MT. The output of Northern Coalfields was 104.90 MT while the target was 105.12 MT, according to Coal India data. On the other hand, Coal India arms Western Coalfields Ltd (WCL), Mahanadi Coalfields Ltd (MCL) and North Eastern Coalfields (NEC)--a unit of Coal India Ltd --are ahead of their target. WCL produced 45.10 MT of coal against the target of 44.66 MT. MCL's production was 161.02 MT against the target of 158.79 MT. In

Coal India Q3 results: Profit drops 17% to Rs 8,506 cr, dividend declared

Coal India Q3FY25 results: The company accounts for over 80 per cent of the domestic coal output

Q3 results Jan 27: Coal India, Tata Steel among 78 to post earnings today

Q3FY25 company results, January 27: Coal India, Bajaj Housing Finance, Canara Bank, and ACC will release their reports for the Oct-Dec 2024 quarter

Western Coalfields faces flat coal production at 69 MT amid challenges

Western Coalfields Ltd (WCL), a subsidiary of Coal India, has projected flat coal production at 69 million tonne in FY'25, mirroring last year's output, as it grapples with operational and pricing challenges. Despite achieving its highest-ever coal production of 69.113 million tonne in FY24, reflecting a 7.5 per cent growth, WCL anticipates no growth this fiscal or the next due to limited reserves, adverse geo-mining conditions, and escalating production costs, a top company official said. "Our total production for FY'25 will remain around 69 million tonne, similar to last year. Despite our best efforts, we expect production to remain flat next fiscal as well due to unique mining and pricing challenges," WCL Chairman and Managing Director Jai Prakash Dwivedi said. The Nagpur-headquartered company operates 52 mines, including 19 underground and 33 open-cast mines, across 10 areas in Maharashtra and Madhya Pradesh. WCL produced 45.1 million tonne of coal between April and December, .

Coal India eyes 4-5% FY25 growth, CMD optimistic on key coalfield targets

During April to December 2024, CIL recorded a production of 543.4 mt, a growth of 2.2 per cent over the same period last year

Assam coal mine rescue: Coal India brings in 500 GPM pump to dewater mine

The mine collapse, which trapped several workers, has posed numerous challenges for rescue teams

Stocks to Watch, Jan 7, 2025: Coal India, Mobikwik, Nuvoco Vistas, Airtel

Stocks to Watch, Jan 7, 2025: From Mobikwik to Nuvoco Vistas, here are few stock that will remain in focus today

Coal India, IREL ink MoU to collaborate on development of critical minerals

Coal India Limited (CIL) and IREL (India) Limited on Monday signed a non-binding Memorandum of Understanding (MoU) to cooperate and collaborate on the development of critical minerals. The MoU aims to promote the development of mutually agreed assets of critical minerals, including mineral sands and rare earth elements (REE), Coal India informed bourses The two companies will work together to acquire assets, source raw materials domestically or internationally, and develop mining, extraction, and refining capabilities, Coal India officials said. This partnership is part of CIL's efforts to reduce India's import dependence on critical minerals including lithium and cobalt. CIL Chairman P M Prasad in the past emphasised the importance of acquiring these mineral assets in India and abroad to support the country's clean energy goals. The government in the Union Budget 2024-25 had announced Critical Mineral Mission that aims to expand domestic production, recycling, and incentivise the

Stocks to Watch, Jan 6, 2025: Nykaa, HDFC Bank, Bajaj Finance, HUL, RIL

Stocks to Watch, Jan 6, 2025: From Nykaa to HDFC Bank, here is a list of stocks that will be on investors' radar today

CCI dismisses allegations of 'abuse of dominance' against Coal India

Fair trade regulator CCI has dismissed allegations of abuse of dominance against Coal India concerning its e-auction scheme introduced in December 2022, ruling that the state-owned company had not violated norms. Coal India Ltd (CIL), a Maharatna public sector undertaking under the Ministry of Coal, is the single-largest coal producing company in the world. "In view of the... facts and circumstances of the present matter, the commission is of the view that there is no prima-facie case of contravention of provisions of the act warranting an investigation into the matter," Competition Commission of India (CCI) said in a order on December 30. The case, filed by a Kolkata-based individual, claimed that Coal India's 2022 e-auction scheme replaced its earlier spot e-auction scheme 2007 with terms allegedly unfair to buyers, the order said. The individual argued that the scheme's conditions, such as requiring advance bid security and forfeitures without reciprocal obligations on CIL, ...

J'khand initiates process for legal action to realise coal dues from Centre

The Jharkhand government initiated the process for legal action to realise "Rs 1.36 lakh crore coal dues" from the Centre. The government issued a notification on Tuesday authorising Secretary, Revenue, Registration and Land Reforms to commence the legal procedure to realise the dues. The development came shortly after the state government announced in its first cabinet meeting last month that it would take legal action to get its dues. "Secretary, Revenue, Registration and Land Reforms is nominated as nodal officer to initiate immediate legal action to realise Rs 1.36 lakh crore dues from the Centre. "In case of obstacles in payments by subsidiaries of Coal India in lieu of washed coal royalty dues, common cause dues etc, steps should be taken to resolve this in consultation with the Advocate General," the notification said. Chief Minister Hemant Soren, too, had said after being sworn in last month that legal action would be initiated to realise the dues. Earlier, he had request

Stocks to Watch, Dec 3: Cipla, Axis Bank, Swiggy, TaMo, Adani Ports, SBI

Stocks to Watch, Dec 3: From Adani Group to Cipla here are few stocks that will be eyed today

Stocks to Watch, Nov 26: HUL, SBI, Coal India, IndiGo, Adani Group shares

Stocks to Watch, Nov 26: Here is a list of stocks that will be in focus for today's session

Coal India floats tender seeking bids from private players for e-auction

Despite having switched to its internal e-auction platform in January this year, Coal India Ltd (CIL) has floated a tender seeking bids from private service providers to conduct e-auctions of the dry fuel for its subsidiaries over the next two years, officials said on Monday. This move has left external e-auction service providers, such as MSTC and mjunction, who have managed CIL's auctions through electronic platforms for nearly two decades, confused and they were seeking more clarity before deciding whether to participate in the tender, stakeholders said. The deadline for submission of bids is November 27. CIL had engaged its subsidiary CMPDI to develop an internal coal e-auction system in collaboration with the National Informatics Centre (NIC), the officials said. The internal platform was successfully transitioned in January 2024 after conducting successful trials in 2023. "However, there have been complaints about the system's performance, prompting Coal India to seek extern

CIL to supply coal beyond normative requirement to non-regulated sector

State-owned CIL on Thursday said it will supply coal beyond the normative requirement to the non-regulated sector, including steel. The decision, taken on November 13, will be applicable tranche VIII linkage auction onwards, which is scheduled to begin soon. Coal India, which accounts for over 80 per cent of domestic coal production, has tweaked the policy provision to permit coal supplies beyond the annual contracted quantity (ACQ) to non-regulated sector (NRS) customers in long-term linkage auctions. Earlier, in NRS linkage auctions, end user plants were allowed to obtain linkages up to their normative requirement. The standard norm to calculate the requirement is the quantity of coal that a plant will need if it operated at 85 per cent of its installed capacity for a whole year. The actual supply of coal through linkage auctions was up to this determined quantity. Any customer seeking above 85 per cent of the ACQ had to step off the auction process to procure coal. Enabling s

India's coal import rose 8% to 140.6 MT in H1, demand likely to stay modest

India's coal import rose by 7.8 per cent to 140.60 million tonne (MT) in the April-September period of the ongoing financial year. The country's coal import was 130.34 MT in the year-ago period, according to data compiled by B2B e-commerce company mjunction services ltd. Overall, coal import demand is likely to remain modest due to the healthy stock position and high volumes being offered through spot e-auctions in the domestic market, mjunction MD and CEO Vinaya Varma said. Coal import in September dropped by 10.09 per cent to 19.42 MT from 21.60 MT in the corresponding month of previous fiscal. Of the total imports in September, non-coking coal volume was 13.24 MT, against 14.88 MT in the year-ago month. Coking coal import stood at 3.39 MT, against 4.59 MT a year ago. During the April-September period, non-coking coal import was at 91.92 MT, higher than 83.45 MT imported during the same period last year. Coking coal import was at 28.18 MT as against 29.44 MT. "There was a slig