Coal India Ltd dropped for a fifth straight session today. The stock is quoting at Rs 501.65, down 0.4% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is down around 0.09% on the day, quoting at 25175.75. The Sensex is at 82256.1, down 0.12%.Coal India Ltd has gained around 0.41% in last one month.Meanwhile, Nifty Energy index of which Coal India Ltd is a constituent, has increased around 1.79% in last one month and is currently quoting at 43249.85, down 0.03% on the day. The volume in the stock stood at 44.03 lakh shares today, compared to the daily average of 103.34 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 503.75, down 0.36% on the day. Coal India Ltd jumped 96.11% in last one year as compared to a 28.38% rally in NIFTY and a 61.21% spurt in the Nifty Energy index.The PE of the stock is 20.78 based on TTM earnings ending June 24.Powered by Capital Market - Live

Coal India announced its production and offtake performance (provisional) of the company and its subsidiaries for the month August 2024. Coal production declined 11.9% to 46.1 million tons (MT) in August 2024 compared to 52.3 MT in August 2023. Coal offtake declined 11.8% to 52.1 MT in August 2024 compared to 59.1 MT in August 2023. For the period April - August 2024, the coal production stood at 290.4 MT (higher by 3.2% on YoY basis) and coal offtake was 310 MT (higher by 1.4% on YoY basis). Powered by Capital Market - Live

Coal India issued a statement regarding the order of Supreme Court in Mineral Area Development Authority vs SAIL (CA 4056-64 of 1999): Today the Hon'ble Supreme court has pronounced its order in the case of Mineral Area Development Authority vs SAIL (Civil Appeal 4056-64 of 1999) and CIL is going through the above order and based on the above, the Company will assess the probable financial impact thereof, which will be disclosed in due course of time' Powered by Capital Market - Live

Focusing on increasing its volume sale of coal, Coal India (CIL) has paved the way for allowing supplies beyond Annual Contracted Quantity (ACQ) to thermal power plants of the country including independent power plants (IPP). This applies to the Gencos which have signed the fuel supply agreements (FSA) embedded with such an enabling clause. With this, CIL has done away with the earlier provision which allowed coal supplies up to a maximum of 120% of ACQ to power plants and IPPs. Now, the simplification would benefit the power plants which prefer to lift higher quantities of coal beyond their stipulated ACQ. The fillip for CIL is that, it would boost its supplies at a time when coal demand is showing signs of slackening. In the last week of June this year CIL's Board had cleared the decks for allowing supplies beyond ACQ. This ushers in ease of doing business, simplicity and avoids duplicity of work. CIL's pitheads currently have a coal stock of 72 million tonnes (MTs) which is 47% more compared to 49 MTs as of 12 August 2023. Satisfying the coal demand, supplies to coal fired plants peaked to an unprecedented 619.7 MTs in FY 2024 meeting 101.6% of the demand projected. Compared to 586.6 MTs off-take to power sector in FY 2023 the increase in volume terms was 31.9 MTs, which is a growth 5.4%. Of a total of 153 domestic coal based power plants of the country, CIL has long term linkages with 127 plants of 592 MTs. The country has a total of 54 domestic coal based IPPs and CIL has linkages with 50 of them for 155.7 MT/per annum. During FY 2024 the generation through domestic coal based power plants was 1177 Billion Units (BU). Of this, tentatively 78% of the generation was fueled by the coal from CIL sources at 915 BU. Powered by Capital Market - Live

Coal India has signed a joint venture agreement with GAIL (India) on 05 August 2024 for setting up coal to synthetic natural gas plant at Eastern Coalfield, Bardhaman, West Bengal. The company will have a 49% stake in the new venture. Powered by Capital Market - Live