Coal India trades higher as its arm offers 22.5 lakh tonne coal to power consumers
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Coal India is currently trading at Rs. 158.85, up by 0.30 points or 0.19% from its previous closing of Rs. 158.55 on the BSE.
The scrip opened at Rs. 160.75 and has touched a high and low of Rs. 160.75 and Rs. 158.45 respectively. So far 188155 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. 161.00 and Rs. 152.05 respectively. The current market cap of the company is Rs. 98233.89 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’s (CIL) arm -- Mahanadi Coalfields (MCL) has offered 22.5 lakh tonnes of coal to power consumers via the road-cum-rail mode as the stock of fossil fuel rises above 12.5 million tonnes at the mines with a gradual increase in output in the last quarter of FY22.
MCL is looking for opportunities to maximise despatch as the company's coal stock is slated to increase further with an increase in production from its mines in Odisha. The offer of 22.5 lakh tonne coal through the road-cum-rail (RCR) mode to consumers was made after this new initiative.
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.
