Coal India surges; eyeing to supply 156 MTs of coal to power sector in Q1FY24!
Shares of Coal India Limited jumped more than 25% in last one year.
Coal India (CIL) is eyeing to supply 156 million tonnes (MTs) of coal to power sector during April-June 2023 quarter amid concerns over spike in coal demand. This would be 25.6% of the enhanced annual dispatch target of 610 MTs slated for this sector in 2023-24. Factors in favour of the company are a strong 68 MTs coal stock build up expected at its pitheads by 2022-23 end, which as of March 13, 2023 was 57.3 MTs.
Also, the company would be scaling up its production into a higher orbit maintaining the pace on the back of an unprecedented 700 MTs output, which it is on course to achieve by FY23 end. The state-owned coal mining behemoth is confident of meeting the enhanced 610 MTs coal supply target to power sector in 2023-24.
Share price movement of Coal India Limited
Today, the stock opened at Rs 222.20, with a high and low of Rs 222.65 and Rs 219.00. The stock is closed trading at Rs 221.00, up by 0.14%.
The stock has a 52-week high of Rs 263.30 and a 52-week low of Rs 164.75. The company has a ROCE of 54.3% with a market capitalization of Rs 1,36,258 crore.
Coal India Limited (CIL) the state-owned coal mining corporate came into being in November 1975. With a modest production of 79 million tonnes (MTs) at the year of its inception, CIL today is the single largest coal producer in the world. CIL is a Maharatna company, a privileged status conferred by Government of India to select state owned enterprises in order to empower them to expand their operations and emerge as global giants.
Share Market Today
|Indices Name||Price||Price Change (% change)|
|S&P ASX 200||6943.40||-89.8 (-1.28%)|
|CAC 40||6997.05||-71.11 (-1.01%)|
|Dow Jones||33002.38||-430.97 (-1.29%)|
|FTSE 100||7470.16||-40.56 (-0.54%)|
|Hang Seng||17298.46||-524.12 (-2.94%)|
|US Tech 100||13064.47||-248.3 (-1.87%)|
|Nikkei 225||31237.94||-521.94 (-1.64%)|
|S&P 500||4229.45||-58.94 (-1.37%)|
|Gift Nifty||19450.50||-163 (-0.83%)|
|Shanghai Composite||3110.48||0 (0%)|
|Taiwan Weighted||16454.34||-102.97 (-0.62%)|
|US 30||32998.90||-0.5 (0%)|
About the Author
DisclaimerInvestment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Bombay Stock Exchange (BSE) has announced the discontinuation of Stop Loss Market (SL-M) orders, effective from October 9. This decision follows a recent incident involving a "freak trade" triggered by an SL-M order, which led to concerns within the trading community. The aim is to prevent erroneous order placements, whether they result from manual or algorithmic trading.
- Oct 03, 2023
Valiant Laboratories Ltd has a face value of ₹10 per share while the price band for the book building IPO has been set in the band of ₹133 to ₹140 per share. The final price will be discovered within this band, through the process of book building. The fresh issue portion entailed the issue of 1,08,90,000 shares (108.90 lakh shares), which at the upper price band of ₹140 per share will translate into fresh issue size of ₹152.46 crore.
- Oct 03, 2023
Premium listing for Saakshi Medtech and Panels Ltd, then hits upper circuit Saakshi Medtech and Panels Ltd had a strong listing on 03rd October 2023, listing at a premium of 50.52%, and subsequently hitting the 5% upper circuit on
- Oct 03, 2023