Coal India marks all-time high supply of 528 million tonnes; stock climbs ~3%

28 Mar 2022 , 04:12 PM

Coal India’s (CIL) counter remained on a higher note today as the government-owned coal miner has reported an all-time high supply of 528 million tonnes (MTs) of coal to the country’s power utilities. This supply is equal to 98.5% of the prorated demand of 536 MTs, as projected by the Ministry of Power and Central Electricity Authority.

CIL strives to meet its despatch commitment to the country’s power stations as the supply numbers indicate.

The current trend of coal stock accumulation indicates CIL will start the fiscal FY’23 with above 60 MTs at its pitheads. The stockpile of domestic coal at power plants is expected to increase to around 25 MTs by the closure of the fiscal, the bulk of it augmented by CIL’s supplies. Further, the company will make available an additional 4.5 MTs at goods sheds, washeries, and ports.

CIL is mindful of the relevance of catering to the increased coal demand of the power sector as the generation will step into a higher orbit with the beginning of summer. With sufficient coal in the system and boosting its production, CIL is all set to cater to the summer demand.
As of March 24, 2022, indigenous coal stock at powerhouses monitored by CEA stood at 23.7 MTs.

Coal India ended at Rs191.25 up by Rs5.3 or 2.85% from its previous closing of Rs185.95 on the BSE. Its scrip touched intraday high and low of Rs193.65 and Rs185.55 respectively.