The three 'Maharatna' public sector utilities (PSUs), NTPC, Coal India and Indian Oil, would form a special purpose vehicle (SPV) to revive three fertiliser units in UP, the Union Cabinet approved today.
COAL INDIA : BUYTarget: Rs 330Stop Loss: Rs 311The stock has managed to cross its immediate hurdle of Rs 318-319 zones and witnessed a fresh breakout. It has been holding the gains and trading above 50 DMA which also has a bullish implication.
Coal India has agreed to part with nearly Rs 6,000 crore from its cash reserves of over Rs 38,000 crore for a share buy-back mooted by the finance ministry after ensuring that its capex plans to up production would not be impacted.
Coal India's (CIL) recent decision to bring down the effective price of higher-grade coal, while increasing the price of the lower grades points to the miner's intention to push up the offtake of higher grades, while making more money by selling the lower
Shares of Coal India were up over 3% at Rs 307 on the Bombay Stock Exchange after the company announced encouraging production and sales numbers for May 2016.Coal production by the company and its subsidiaries was 95% at 42.58 million tonne against a
Coal India disappointed with its March quarter performance but the announced price increases encouraged the Street. These were under fuel supply agreements (FSAs) to power units, a little over 80 per cent of Coal India’s sales volume.
As the domestic demand for coal has started dwindling with surplus stock at power plants, Coal India has started exploring export opportunities, hoping to enter Bangladesh with the upcoming Maitree super-critical thermal project there.