Coal India soars on extending fuel supply agreement tenure to 10 years for NR
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Coal India is currently trading at Rs. 385.40, up by 4.85 points or 1.27% from its previous closing of Rs. 380.55 on the BSE.
The scrip opened at Rs. 383.05 and has touched a high and low of Rs. 387.90 and Rs. 382.15 respectively. So far 410801 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 395.80 on 02-Jan-2024 and a 52 week low of Rs. 207.70 on 27-Mar-2023.
Last one week high and low of the scrip stood at Rs. 395.05 and Rs. 379.25 respectively. The current market cap of the company is Rs. 237634.80 crore.
The promoters holding in the company stood at 63.13%, while Institutions and Non-Institutions held 31.74% and 5.11% respectively.
Coal India (CIL) has begun tranche-VII of the linkage auction to non-regulated sector (NRS) within days of completion of tranche-VI. CIL has proactively increased the tenure of fuel supply agreement (FSA) to 10 years, beginning with seventh tranche, to ensure long term assurance of coal supply through linkage auction to NRS.
For sponge iron sub-sector customers tranche-VII of linkage auction has commenced in the last week of December 2023, to meet their coal demand, even though the conversion ratio of successful bids into FSAs was low, by this sector, in tranche-VI.
Coal India (CIL) is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
