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Coal India moves up as its arm sets 263 MT production target by 2023-24

  • Jun-30-2020
  • 10:10:00 Hrs IST

Coal India is currently trading at Rs. 135.90, up by 1.10 points or 0.82% from its previous closing of Rs. 134.80 on the BSE.

The scrip opened at Rs. 136.00 and has touched a high and low of Rs. 137.15 and Rs. 135.30 respectively. So far 120813 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 256.35 on 01-Jul-2019 and a 52 week low of Rs. 119.25 on 26-Mar-2020.

Last one week high and low of the scrip stood at Rs. 146.45 and Rs. 134.15 respectively. The current market cap of the company is Rs. 83689.85 crore.

The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 30.27% and 3.59% respectively.

Coal India’s Odisha-based subsidiary -- Mahanadi Coalfields (MCL) has set a target of producing 263 million tonne (MT) of coal by 2023-24 in order to ensure the energy security of the country and employees must ensure normal mining operations to achieve the goal. In the current financial year (FY21), MCL has been assigned with a target of 173 MTs of coal but the company is lagging behind in its production and overburden removal targets.

At present, MCL has 48 coal blocks having mineable resources of 29,100 MT, which can meet the requirement of thermal coal for another 100 years and another miscellaneous 22 projects are in pipeline, which includes washeries, coal gasification and solar power.

Coal India is the world’s largest coal mining company. It also produces noncoking coal and coking coal of various grades for diverse applications.