Monday , September 27 2021

Coal India declines on suffering losses to tune of Rs 700 crore in April-June quarter amid sharp rise in diesel prices

Coal India is currently trading at Rs. 138.55, down by 0.65 points or 0.47% from its previous closing of Rs. 139.20 on the BSE.

The scrip opened at Rs. 140.40 and has touched a high and low of Rs. 140.40 and Rs. 138.50 respectively. So far 160653 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 164.90 on 11-Jun-2021 and a 52 week low of Rs. 109.50 on 15-Oct-2020.

Last one week high and low of the scrip stood at Rs. 146.65 and Rs. 137.25 respectively. The current market cap of the company is Rs. 85415.41 crore.

The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 28.17% and 5.69% respectively.

Coal India has suffered losses to the tune of Rs 700 crore in the April-June quarter owing to a sharp rise in diesel prices. The company lost about Rs 700 crore as diesel prices increased by about 35 per cent. It was in the range of Rs 66-67 and now at around Rs 89. This has been a substantial rise.

The company has been drawing up plans to replace its diesel-run heavy machinery with LNG-fired equipment, and adding 1,500 electric vehicles to its fleet in the next five years to support carbon emission cuts.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

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