Coal India gains on inking pact for purchase of 11 Russian rope shovels
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Coal India is currently trading at Rs. 146.55, up by 0.30 points or 0.21% from its previous closing of Rs. 146.25 on the BSE.
The scrip opened at Rs. 146.25 and has touched a high and low of Rs. 146.95 and Rs. 145.60 respectively. So far 89819 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 164.90 on 11-Jun-2021 and a 52 week low of Rs. 109.50 on 15-Oct-2020.
Last one week high and low of the scrip stood at Rs. 150.65 and Rs. 145.25 respectively. The current market cap of the company is Rs. 89914.21 crore.
The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 28.35% and 5.45% respectively.
Coal India (CIL) has inked a pact for purchase of 11 Russian rope shovels for nearly Rs 1,642 crore. Electric rope shovels play a vital role in opencast mines for loading of material. In an ongoing process of modernising its ageing heavy earth moving machinery fleet, the company on closed a deal valued at nearly Rs 1,462 crore for purchase of 11 20-cubic metre electric rope shovels.
CIL tied up a contract with Iz-Kartex named after P.G.Korbokov Ltd, a Russian shovel manufacturing company for installation and commissioning of the shovels after it bagged the bid through participation in global competitive tender involving reverse auction. Contract has been concluded considering life cycle cost of equipment with likely consumables and spares for a period of eight years. The delivery of all the electric rope shovels would be concluded by September 2023.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
