Page 9 - Coal India

Jefferies stays bullish on PSU stocks: SBI, Coal India, NTPC lead the way

The recent outperformance (before the sharp fall in past sessions), Jefferies said, was helped by earnings per share (EPS) upgrades and return on equity (RoE) improvement.

Coal India to add new mines, expand existing ones to meet high demand

The miner plans to start operations at five new mines, with a combined annual capacity of 14.3 million tons, in the next fiscal year, Prasad said

Trade unions have called for one day strike on February 16, says CIL

Coal India Ltd on Tuesday said central trade unions have called for a one-day strike on February 16 at the company and its subsidiaries. State-owned CIL accounts for over 80 per cent of domestic coal output. In a regulatory filing, the company said the trade unions have called for the strike but did not disclose the reason for the proposed strike. "CIL is in receipt of strike notice regarding one day All India Strike in entire CIL / Subsidiaries on 16.02.2024 from CTUs (Central Trade Unions) - HMS / AITUC / INMF (INTUC) / CITU," the filing said.

Coal India Q3 results: Profit rises 17% to Rs 9,069 cr, revenue up 2%

Coal behemoth CIL on Monday reported a 16.9 per cent rise in consolidated net profit to Rs 9,069.19 crore for the December quarter. The company's consolidated net profit stood at Rs 7,755.55 crore in the year-ago period, Coal India Ltd (CIL) said in a regulatory filing. Its consolidated revenue from operations in the October-December period increased to Rs 36,153.97 crore from Rs 35,169.33 crore a year ago. CIL accounts for over 80 per cent of domestic coal production.

'Procurement from govt's GeM portal likely to reach Rs 4 trn this fiscal'

The procurement of goods and services from the government portal GeM will cross Rs 4 lakh crore by the end of this fiscal due to higher buying activities by various ministries and departments, a senior government official said on Monday. The government e-Market (GeM) portal was launched on August 9, 2016, for online purchases of goods and services by all the central government ministries and departments. "As of today, the procurement has crossed Rs 3 lakh crore and going by the trend, the procurement this fiscal will reach Rs 4 lakh crore," GeM CEO P K Singh told reporters here. In 2021-22, the procurement value stood at Rs 1.06 lakh crore. It crossed Rs 2 lakh crore last year. Singh said that the share of Central Public Sector Enterprises (CPSEs) such as Coal India in the total buying of goods and services is increasing at a healthy rate. More than 245 CPSEs, including Coal India, SAIL, NTPC and SBI, are participating in the process. GeM has over 63,000 government buyer organisa

CIL appoints Mukesh Agrawal as director of finance with immediate effect

State-owned CIL on Thursday said Mukesh Agrawal has taken over as its Director, Finance. Agrawal took charge from Debasish Nanda, Director, Business Development, who was holding the additional responsibility as Director, Finance, Coal India Ltd (CIL) said in a statement. "Agrawal took over as Director, Finance... on and from 8 February 2024," CIL said. Prior to this, Agrawal was Executive Director at NLC India Ltd, it said. Agrawal's experience spans over three decades during which he has worked with ITI Ltd, IRCON International Ltd, and NLCIL.

PM to inaugurate projects worth over Rs 2K cr of CIL arm MCL on Saturday

Prime Minister Narendra Modi will on Saturday inaugurate projects worth over Rs 2,000 crore of Coal India arm Mahanadi Coalfields Ltd in Odisha. "Prime Minister will inaugurate pivotal projects of Mahanadi Coalfields Ltd (MCL) in Odisha on February 3," the coal ministry said in a statement. Among these is the Bhubaneswari Phase-I, a First Mile Connectivity (FMC) project in Talcher Coalfields, Angul district, built at a cost of Rs 335 crore. This project aims to reduce rake loading time, curb carbon emission and reduce transportation costs. Another important project which would be inaugurated is the Lajkura Rapid Loading System, constructed at an investment of about Rs 375 crore. This system is also designed to enhance coal quality and supply and reduce green house gas emission as well as transportation cost. "These endeavours not only significantly alleviate environmental impact but also create valuable employment opportunities for the local youth," the coal ministry said. Modi

Coal India fuel supply to thermal power plants rises by 5pc in Apr-Jan FY24

State-owned Coal India Ltd on Friday said that it supplied 509 million tonnes of coal to thermal power plants in the April-January period of this fiscal, registering a rise of 4.7 per cent. Coal India supplied 486 million tonnes (MT) of dry fuel to coal-fired power plants in the year-ago period. "Staying ahead of the projected demand since the beginning of the fiscal, CIL's supplies to coal-fired plants raced to 509 MT till January," the PSU said in a statement. CIL's increased supplies forming the bulk, ensured stock at domestic coal based power plants hitting an all-time high of 36.2 MT in January, eclipsing the previous high of 34.5 MTs recorded four years ago same month. On an average CIL loaded a record 315.2 rakes per day to all consuming sectors, which is 7.2 rakes higher than earlier 308 rakes record achieved for a month in March 2021. Each rake corresponds to around 4,000 tonnes of coal. Loading to power plants on an average shot up to 288.4 rakes per day during the refer

Stocks to watch on Jan 29: HDFC Bank, SBI Cards, Adani Power, Coal India

Stocks to watch on January 29, 2024: Investor focus this week remains on the US Fed's rate outcome on Jan 31 and the interim budget back home on Feb 1

Coal India, WCL to set up green energy projects in Chhindwara: Coal secy

Coal India and its subsidiary Western Coalfields have identified four to five closed mines in the Chhindwara Pench area for setting up green projects for optimum utilisation of assets, Union Coal Secretary Amrit Lal Meena said on Sunday. Meena at the Western Coal Fields headquarters here told reporters that Coal India will install integrated solar and pump storage projects in de-coaled land from where coal has been extracted fully. The move is aimed at the optimum utilisation of WCL assets and 4-5 old mines have been identified in the Chhindwara Pench area wherein integrated solar and hydropower plants would be set up to contribute to green energy production, the secretary said. He informed that he along with the WCL chairman and managing director and other officials visited and inspected the old coal mines where mining work has finished. " WCL will survey more such de-coaled assets in the region and after assessment by experts, WCL will try to make optimum use of those assets of W

CCL mulls JV with Jharkhand for expansion of Tenughat Thermal Power Station

The total installed capacity of the thermal station is 420 MW having two units of 210 MW capacity each

Coal India's venture into power generation gets Cabinet approval

Rs 5.6K cr equity investments in two thermal power projects also get go-ahead

CCEA approves Rs 5,607 cr investments by Coal India in two power projects

The Cabinet Committee on Economic Affairs on Thursday approved equity investments of Rs 5,607 crore by state-owned South Eastern Coalfields and Mahanadi Coalfields to set up two thermal power projects with total generation capacities of 2,260 MW. The decision was taken at a meeting of the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi on Thursday, an official statement said. According to the statement, South Eastern Coalfields Ltd (SECL) will set up a 660 MW thermal power plant through a joint venture of SECL and MPPGCL. Similarly, Mahanadi Coalfields Ltd (MCL) will set up a 2x800 MW thermal power plant through Mahanadi Basin Power Ltd (MBPL - a subsidiary of MCL). There will be an equity capital of Rs 823 crore (plus or minus 20 per cent) by SECL with an estimated project capex of Rs 5,600 crore (accuracy of plus or minus 20 per cent) for the proposed 660 MW supercritical thermal power plant through JV of SECL and MPPGCL at Amarkantak Thermal

Coal India extends fuel supply agreement tenure for non-regulated sector

State-owned CIL on Tuesday said it has extended the tenure of fuel supply pact to ten years from the earlier five years for the non-regulated sector. The move aims at ensuring long-term assurance of coal supply through linkage auction to the non-regulated sector. Coal India Ltd (CIL) has begun the seventh tranche of the linkage auction to the non-regulated sector within days of completion of the sixth round. "CIL has proactively increased the tenure of fuel supply agreement (FSA) to 10 years, beginning with the seventh tranche," the company said in a statement. For sponge iron sub-sector customers, the seventh round of linkage auction started in the last week of December to meet their coal demand, even though the conversion ratio of successful bids into FSAs was low by this sector in the sixth round. "CIL is committed to supplying coal to the extent of the normative requirement of all industrial sectors including sponge iron. In this endeavour, regular linkage auctions, as per the

Coal India's supply to non-regulated sector rises 31% during Apr-Dec

State-owned CIL on Tuesday said its supplies to the non-regulated sector rose 31 per cent to 98 Million Tonnes (MT) in the April-December period of the current fiscal. Coal India Ltd (CIL) supplied 75 MT fuel in the corresponding period of the previous fiscal. "Even as CIL supplies to the country's power sector exceeded the projected commitment, the company supplied an all-time high volume of 98 million tonnes to non-regulated sector consumers till December," the maharatna firm said in a statement. With increased production and maximised supplies through all modes of despatch, the coal offtake to power plants of the country by the PSU rose to 454 MT during the April-December period. "This is 8 MT higher than the committed quantity of 446 MT for the period. Compared to 433 MT of April-December last year, the increase is 21 MT with around 5 per cent growth," the PSU said. It produced 532 MT of coal in the April-December period of FY24, logging a year-on-year growth of 11 per cent.

Strong visibility over growth, costs drive up CIL stock to record high

The e-auction premium over the fuel supply agreement (FSA) price has improved to between 80-100 per cent which means higher blended realisation compared to June-July premiums of around 60 per cent

Booming Indian coal demand driving up the shares of state-run giants

NTPC, which produces mostly coal-fired power, has surged 78%, far ahead of a gain of 17% in the broader Nifty Index, while shares of Coal India are up 55% for their best year in 2023

Stocks to Watch: Sun Pharma, Infosys, Dixon, DLF, Mankind Pharma, SpiceJet

Stocks to watch on December 12, 2023: Sun Pharma has increased its offer price for acquiring remaining shares of Taro Pharma to $43 per share in cash, compared to $38 before

Coal industry index grows to 18.4% in October, says Coal ministry

The index of coal industry rose to 18.4 per cent in October from 9.1 per cent in April. "As per the index of eight core industries for October 2023, released by the Ministry of Commerce & Industries, the index of coal industry has showcased in the last 16 months highest growth of 18.4 per cent (provisional), reaching 172.6 points compared to 145.8 points during the same period last year," the coal ministry said in a statement. The growth in the index of coal industry can be seen due to a substantial rise in production of dry fuel in October to 78.65 Million Tonnes (MT), over 66.32 MT in the corresponding month of previous year. "The remarkable growth of the coal sector and its contribution to the overall growth of the eight core industries are a testament to the continuous efforts and initiatives undertaken by the Ministry of Coal," the statement said.

88% area of Jamuna open cast project of Coal India's SECL reclaimed: Centre

The government on Monday said 88.07 per cent of the area of Jamuna open cast project of Coal India arm SECL has been reclaimed. The government has also taken steps towards environmental stewardship with its sustained reclamation and afforestation initiative, aiming to minimize the ecological footprints of coal mining. The Jamuna OCP (Open Cast Project) in Madhya Pradesh of South Eastern Coalfields Limited (SECL) stopped mining in June 2014, on account of resource depletion. "Following this, a meticulously planned mine closure was initiated. According to recent satellite data, 88.07 per cent of the quarry area has been successfully reclaimed, showcasing the Ministry's commitment to sustainable coal mining practices," the coal ministry said in a statement. A substantial portion of the reclaimed land which covers 672 hectares, has been dedicated to afforestation efforts. "This initiative is a testament to the Coal Ministry's commitment to sustainable development and responsible resou