The coal sector is reaping the benefits of the economic boom that the country is witnessing presently, believe experts.
According to the latest government data, Coal India Ltd (CIL) had dispatched 414.7 MT of fuel in FY 2015-16, the company accounts for over 80% of the domestic coal production.
However, according to the data, the dispatch of coal by CIL declined by nearly 7% to 34.6 MT in March 2017 from 37.1 MT in March 2016.
In 2016-17 the overall dispatch of coal by the PSU increased by 1.6% to 543.2 MT as compared to 534.5 MT in the preceding fiscal.
The demand of coal by the power sector has picked up since December as the economy was doing well, said the Coal Secretary Susheel Kumar.
CIL to make more coal available for power sector such as offer coal under special forward e-auction scheme exclusively for the sector has taken a series of measures, the government had said.
Coal India Ltd ended at Rs 282.55, up by Rs 3.45 or 1.24% from its previous closing of Rs 279.1 on the BSE.
The scrip opened at Rs 279 and touched a high and low of Rs 283.35 and Rs 276.05 respectively. A total of 4269565(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 173248.79 crore.
The BSE group 'A' stock of face value Rs 10 touched a 52 week high of Rs 349.85 on 17-Aug-2016 and a 52 week low of Rs 272.65 on 04-May-2016. Last one week high and low of the scrip stood at Rs 291.8 and Rs 278.4 respectively.
The promoters holding in the company stood at 78.86 % while Institutions and Non-Institutions held 18.13 % and 3.01 % respectively.
The stock traded below its 200 DMA.
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