Coal India (CIL) has raised its coal prices by 6.29%, and it applies to all subsidiaries. Due to the revision, CIL will be expected to earn an additional revenue of 3,234 crore between May 30 to March 31 in 2016-17.
Coal India is currently trading at Rs. 292.30, up by 10.95 points or 3.89% from its previous closing of Rs. 281.35 on the BSE. The scrip opened at Rs. 287.90 and has touched a high and low of Rs. 296.00 and Rs. 287.90 respectively. So far 3,50,000 shares were traded on the counter.
The BSE group ‘A’ stock of face value Rs. Ten has touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 272.05 on 12-Apr-2016.
Last one week high and low of the scrip stood at Rs. 296.00 and Rs. 277.90 respectively. The current market cap of the company is Rs. 1,84,627.00 crore.
The promoters holding in the company stood at 79.65%, while Institutions and Non-Institutions held 17.14% and 3.21% respectively.
The current coal price, on an average, is 1,193 per ton, according to a CIL official. The increase will apply to all CIL subsidiaries and NEC for regulated and non-regulated sectors.
CIL accounts for over 80% of the domestic coal production. The company has a target to achieve a production of 598 million tons in the current fiscal. The company is eying an output of one billion times by 2020.
CIL Increases Coal Prices By 6.29%
