State-owned Coal India's fuel supply to the power sector declined by 3.6 per cent to 288.2 million tons in the April-December period of the ongoing fiscal, amidst weak demand for dry fuel. According to the official data, coal dispatches to the power sector in the same period of previous fiscal were 299.1 MT or million tons.
CIL's coal supply in December also dipped by 4.2 per cent to 35.9 MT, as compared to 37.5 MT in the same month of the previous fiscal. Coal supply by SCCL - Singareni Collieries Company during April-December rose by 2.2 per cent to 36.4 MT as compared to 35.6 MT in the corresponding period of previous fiscal, the data stated.
SCCL is a government coal mining firm owned by Telangana and the Centre on 51:49 equity basis. The overall dispatches of fossil fuel by CIL in the first 9 months of the ongoing fiscal were at 391.7 MT as compared to 389.2 MT in the same period of the previous fiscal.
Coal India, which accounts for over 80 per cent of the domestic coal production, is eyeing 598 MT production in 2016-17. It has a target to produce 1 billion tons of fossil fuel by the year 2020.
Meanwhile, Coal India share price was trading up 2 per cent intraday on the National Stock Exchange (NSE). Coal India Limited as an organized state owned coal mining corporate came into being in November 1975 with the government taking over private coal mines. With a modest production of 79 Million Tons (MT) at the year of its inception CIL today is the single biggest coal producer in the world.
To acquire information on the financials and fundamentals of the stock, please visit Coal India share price history. The resistance and support levels found on the page will help you invest wisely.
No comments:
Post a Comment