TCI calls for CAG probe in Coal India FSAs; CIL down 2.6%
Sharing the letter with media, TCI cited corruption and alleged that the miner has taken steps which have a negative impact for its investors.
The latest development comes after reports came out that NTPC as part new FSA with CIL demanded that the coal below gross calorific value(GCV) of less than 3100kilocalorie per kg would not be accepted. CIL, however told them that the demand is not acceptable.
Earlier CIL , said that it may cut the prices of top grades of coal, with calorific value of over 6,100 kilocalories (kcal) per kg, according to reports.
The stock of the state owned miner is currently trading at Rs.294.60 down by Rs.8.10 or 2.6%. The stock touched a high of Rs. 301.50 and a low of Rs.291.20 on Tuesday. Total traded quantity at the counter stood at 3.87 lakh
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India Infoline Research Team / 10:47, Aug 24, 2015
In spite of massive improvement in CV demand, standalone revenues for Banco Products Ltd registered muted performance with sales at Rs. 113cr in Q1 FY16.