Coal India production increases 5.3% in November

India Infoline News Service | Mumbai | December 02, 2016 11:16 IST

Coal India’s total off-take for the month of November stood at 48.16 million tonnes, as against a target of 49.80 million tonnes.

Coal India
Coal India, the world’s largest coal miner by output, has reported provisional production increased by 5.3% at 50 million tonnes in November 2016, as against a target of 53.85 million tonnes. The company’s total off-take for the month of November stood at 48.16 million tonnes, as against a target of 49.80 million tonnes.

The company produces 84% of the country's coal production, was targeting 53.85 mt of coal production during the month. According to provisional data, the miner produced 323.57 mt in April to November period, achieving 90 percent of the target of producing 360.84 mt.

It also reported that its off-take during April-November period was down by 0.2% at 340.32 mt as against a target of 381.55 mt. The off-take for November stood at 48.16 mt achieving 97% of the target.

The coal behemoth's production grew by only 0.7% in the April-November period from 321.38 mt produced in the corresponding period last year. During the current fiscal, the coal production target has been pegged at 598.61 mt and production is expected to be 660.7 mt in 2017-18.

Stock Commentary:

Coal India Ltd is currently trading at Rs 309.95, up by Rs 3.5 or 1.14% from its previous closing of Rs 306.45 on the BSE.

The scrip opened at Rs 308.7 and has touched a high and low of Rs 311.9 and Rs 307.4 respectively. So far 1593872 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 193,564.85 crore.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 349.85 on 17-Aug-2016 and a 52 week low of Rs 272.05 on 12-Apr-2016. Last one week high and low of the scrip stood at Rs 313.65 and Rs 301.25 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 18.05 % and 2.3 % respectively.

The stock is currently trading below its 100 DMA.

***Note: This is a NSE Chart



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