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Coal India trades in green on the BSE

18 Jun 2012 Evaluate

Coal India is currently trading at Rs. 341.00, up by 1.05 points or 0.31% from its previous closing of Rs. 339.95 on the BSE.

The scrip opened at Rs. 340.30 and has touched a high and low of Rs. 343.90 and Rs. 336.50 respectively. So far 1, 06,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 408.40 on 28-Jul-2011 and a 52 week low of Rs. 293.75 on 22-Dec-2011.

Last one week high and low of the scrip stood at Rs. 343.90 and Rs. 328.00 respectively. The current market cap of the company is Rs. 2, 15,388 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 7.20% and 2.80% respectively.

Citing the reason for not complying with the stipulated norms, Coal India (CIL) has cancelled preliminary supply pacts with as many as 60 captive power plants and independent producers. The 60 CPPs whose assurances have been withdrawn include units of Bokaro Power Supply, a JV of SAIL and DVC, Bhushan Power and Steel, Essar Power, Grasim Industries, JSW Aluminium, J K Tyre and Industries and Maharashtra Energy Development Agency.

Tata Power's 120 MW Unit V at Jojobera, Jharkhand and Durgapur Project's 300 MW Unit - 7A at Burdwan in West Bengal were the two power utilities whose authorization of LoAs have been cancelled. The coal was to be supplied by CIL subsidiary Mahanadi Coalfields and Eastern Coalfields, respectively.

Coal India has cancelled/withdrawn authorization of Letter of Assurances (LoAs) for non-submission of commitment guarantee (CG) within the stipulated period. CG is an amount, which the power companies have to deposit with the coal firms, and is equivalent to 10% of the notified price of the annual coal requirement of the power firms.

An inter-ministerial Committee - standing linkage committee-long term (SLC) which comprises representatives from Ministries of Coal, Power, Shipping and Railways among others besides the Planning Commission - had earlier agreed on the withdrawal of the authorizations granted for supply of coal.

Till January this year, based on recommendations of SLC-LT, CIL’s subsidiaries have issued 172 LoAs for a total capacity of 1,08,878 MW. Besides, this capacity excludes the power utilities already linked to CIL/SCCL, which were commissioned as on March 31, 2009 for which CEA (Central Electricity Authority)/CIL has agreed for annual contracted quantity of 304.84 million tonnes (MT) per annum.

Coal India Share Price

441.65 2.95 (0.67%)
20-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 441.65
NMDC 88.81
GMDC 691.40
Sandur Manganese 213.50
MOIL 321.05
View more..

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