Saturday , September 25 2021

Coal India gains on claiming improvement in grade slippage to 34% in Q3

Coal India is currently trading at Rs. 145.95, up by 0.40 points or 0.27% from its previous closing of Rs. 145.55 on the BSE.

The scrip opened at Rs. 146.40 and has touched a high and low of Rs. 147.60 and Rs. 144.70 respectively. So far 811314 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 162.95 on 26-Feb-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. 156.05 and Rs. 144.70 respectively. The current market cap of the company is Rs. 89914.21 crore.

The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 28.73% and 5.14% respectively.

Coal India’s (CIL) grade slippage during the third quarter of the financial year was down to 34 percent compared to 41 percent during the same period last year. Grade slippage implies that the fuel’s grade during the sampling is found inferior than the declared grade. CIL’s coal is divided into 17 grades. Each grade of coal depending on its heat content is assigned a Gross Calorific Value (GCV). If any reduction is found in the GCV of a particular grade of coal supplied then it is termed as ‘grade slippage’.

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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