Coal India shines as its arm planning to set up 50 MW solar power plant in Odisha
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Coal India is currently trading at Rs. 150.30, up by 1.65 points or 1.11% from its previous closing of Rs. 148.65 on the BSE.
The scrip opened at Rs. 149.70 and has touched a high and low of Rs. 150.60 and Rs. 149.40 respectively. So far 224768 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 203.85 on 06-Oct-2021 and a 52 week low of Rs. 123.45 on 19-Apr-2021.
Last one week high and low of the scrip stood at Rs. 160.65 and Rs. 148.20 respectively. The current market cap of the company is Rs. 91608.96 crore.
The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 28.82% and 5.04% respectively.
Coal India’s (CIL) subsidiary -- Mahanadi Coalfields (MCL) is planning to set up a 50-megawatt (MW) solar power plant in Odisha's Sambalpur district at a cost of Rs 301.92 crore as part of its goal to achieve carbon neutrality by 2024. This project will reduce carbon dioxide emission by 91,020 tonnes per annum and carbon offsets of around 24,824 tonnes per annum.
The plant will cater to the captive power requirement of the MCL, which had earlier set-up a 2-MW solar power plant in Sambalpur in 2014. The MCL has set a target of installing 182 MW of solar power by 2024 in order to become a net-zero energy company, aligning itself to use cleaner forms of energy for coal production.
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.
