Coal India surges after its arm aiming to scale up capacity of Gevra mine
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Coal India is currently trading at Rs. 228.55, up by 0.85 points or 0.37% from its previous closing of Rs. 227.70 on the BSE.
The scrip opened at Rs. 227.80 and has touched a high and low of Rs. 229.00 and Rs. 226.70 respectively. So far 216978 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 263.30 on 09-Nov-2022 and a 52 week low of Rs. 174.60 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 231.75 and Rs. 226.70 respectively. The current market cap of the company is Rs. 140787.53 crore.
The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 28.97% and 4.89% respectively.
Coal India’s subsidiary -- South Eastern Coalfields (SECL) is aiming to scale up the capacity of its Gevra mine to 70 MTPA to make it the world's largest coal producing site by the end of ongoing fiscal. Located at Korba, about 193 kilometer from Raipur, the capital of Chhattisgarh, SECL's Gevra mine is the world's fourth largest coal mine at present.
In financial year 2022-23, the mine produced 52.5 MT of coal which was above its target for the year. The company has applied for environment clearances for around 20 MT excavation capacity.
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.
