Coal India Ltd.

Coal India is currently trading at Rs. 376.10, down by 8.10 points or 2.11% from its previous closing of Rs. 384.20 on the BSE.

The scrip opened at Rs. 379.00 and has touched a high and low of Rs. 381.00 and Rs. 374.10 respectively. So far 152104 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 422.30 on 31-May-2011 and a 52 week low of Rs. 287.45 on 04-Nov-2010.

Last one week high and low of the scrip stood at Rs. 387.35 and Rs. 373.25 respectively. The current market cap of the company is Rs. 242674.72 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 7.91% and 2.09% respectively.

Coal India (CIL) has been asked by the Government to liquidate coal stocks of up to 28 million tonnes (mt) lying at pit heads during the current fiscal for augmenting supplies to the power sector. From this liquidation the gap between demand and supply is expected to come down to 114 mt, from an earlier estimate of 142 mt for 2011-12.

This stock liquidation by Coal India was subject to the availability of rakes and if the same is not feasible, the power sector needs to arrange evacuation of coal from pitheads of their own. As of April 1, approximately 70 mt of coal was lying at the pithead of various mines owned by CIL and its subsidiaries.

In the third and fourth quarter last fiscal, CIL had attributed the accumulation of pithead stocks to law and order problems in States such as Jharkhand and Orissa, constraints in transportation of coal from pitheads to railway sidings and lower availability of railway rakes. On the widening demand-supply deficit, the shortfall had shot up from about 50 mt in 2007-08 to 83 mt last fiscal. Coal demand in the current fiscal is estimated at 696 mt, as against the targeted production of 554 mt.