L&T Eyes $50-$60 Billion Projects by FY25, Plans Major O2C Investments
Coal India surges; eyeing to supply 156 MTs of coal to power sector in Q1FY24!
Last Updated: 14th March 2023 - 06:18 pm
Shares of Coal India Limited jumped more than 25% in last one year.
Coal Demand
Coal India (CIL) is eyeing to supply 156 million tonnes (MTs) of coal to power sector during April-June 2023 quarter amid concerns over spike in coal demand. This would be 25.6% of the enhanced annual dispatch target of 610 MTs slated for this sector in 2023-24. Factors in favour of the company are a strong 68 MTs coal stock build up expected at its pitheads by 2022-23 end, which as of March 13, 2023 was 57.3 MTs.
Also, the company would be scaling up its production into a higher orbit maintaining the pace on the back of an unprecedented 700 MTs output, which it is on course to achieve by FY23 end. The state-owned coal mining behemoth is confident of meeting the enhanced 610 MTs coal supply target to power sector in 2023-24.
Share price movement of Coal India Limited
Today, the stock opened at Rs 222.20, with a high and low of Rs 222.65 and Rs 219.00. The stock is closed trading at Rs 221.00, up by 0.14%.
The stock has a 52-week high of Rs 263.30 and a 52-week low of Rs 164.75. The company has a ROCE of 54.3% with a market capitalization of Rs 1,36,258 crore.
Company profile
Coal India Limited (CIL) the state-owned coal mining corporate came into being in November 1975. With a modest production of 79 million tonnes (MTs) at the year of its inception, CIL today is the single largest coal producer in the world. CIL is a Maharatna company, a privileged status conferred by Government of India to select state owned enterprises in order to empower them to expand their operations and emerge as global giants.
Trending on 5paisa
05
Tanushree Jaiswal
Discover more of what matters to you.
Indian Market Related Articles
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.