Coal India Ltd.

Coal India is currently trading at Rs. 360.00, up by 1.25 points or 0.35% from its previous closing of Rs. 358.75 on the BSE.

The scrip opened at Rs. 358.30 and has touched a high and low of Rs. 362.40 and Rs. 358.30 respectively. So far 205899 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 386.00 on 17-Sep-2012 and a 52 week low of Rs. 301.20 on 18-May-2012.

Last one week high and low of the scrip stood at Rs. 362.90 and Rs. 350.60 respectively. The current market cap of the company is Rs. 227389.12 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 7.29% and 2.71% respectively.   

The government’s move to put 8.5 billion tonne (bt) coal reserves up for auction has reportedly enticed major interest from the top cash-rich energy public sector undertakings (PSUs), including Coal India and NTPC, vying to grab the natural resource.

These firms are drawn in by the Deocha Pachami block in West Bengal’s Birbhum district, which happens to be the country’s largest thermal coal block, with over 2 bt reserves. The block as on January 1,2013, was placed in the list of 17 acreages offered by the coal ministry. This was despite NMDC seeking the block’s allocation for the past three years, with the former also chalking out a Rs 10,000-crore plan to develop the block in a joint venture with Coal India (CIL). However, with the block being up for sale now, CIL, the world’s largest coal miner, wants to exploit the reserves alone.