Coal India surges after its arm resumes mining operation at Assam
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Coal India is currently trading at Rs. 186.45, up by 0.50 points or 0.27% from its previous closing of Rs. 185.95 on the BSE.
The scrip opened at Rs. 186.50 and has touched a high and low of Rs. 187.85 and Rs. 185.55 respectively. So far 123121 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. 188.85 and Rs. 177.50 respectively. The current market cap of the company is Rs. 114842.44 crore.
The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 27.94% and 5.93% respectively.
Coal India’ subsidiary -- North Eastern Coalfields (NEC) has resumed its mining operations at Tikak colliery in Assam. Mining operations at NEC were halted owing to non-availability of land for overburden dump and certain clearances.
NEC presently operates in Tikak colliery in Margherita, Assam with two opencast projects (OCPs) namely Tikak OCP and Tikak Extension OCP with a combined coal production capacity of 4 lakh tonne per annum. NEC will also start producing coal from its Tirap OCP from upcoming fiscal 2022-23. NEC has planned to produce 10 lakh tonne of coal from 2023-24.
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.
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