Coal India rises as its arm bids for 2 coal blocks in 11th tranche of auction
Coal India is currently trading at Rs. 363.25, up by 2.05 points or 0.57% from its previous closing of Rs. 361.20 on the BSE.
The scrip opened at Rs. 359.95 and has touched a high and low of Rs. 367.80 and Rs. 356.25 respectively. So far 317128 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 544.70 on 26-Aug-2024 and a 52 week low of Rs. 349.20 on 17-Feb-2025.
Last one week high and low of the scrip stood at Rs. 371.20 and Rs. 356.25 respectively. The current market cap of the company is Rs. 223768.67 crore.
The promoters holding in the company stood at 63.13%, while Institutions and Non-Institutions held 31.26% and 5.60% respectively.
In a bid to overcome limited reserves and adverse geo-mining conditions, Coal India’s Subsidiary -- Western Coalfields has participated in the bidding for two non-coking coal blocks-Bandhak West and Dahegaon Makardhokra IV in the 11th tranche of the commercial coal blocks auction. This is the first time any Coal India subsidiary has participated in commercial coal block auction.
Bandhak West block remained in high demand, receiving a total 15 bids-the highest among all 19 coal blocks that attracted interest out of the 27 blocks put up for auction. Dahegaon Makardhokra IV received three bids. The technical evaluation process is currently underway, and the final allocation will be announced within a month.
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.
