Friday , September 17 2021

Coal India gains on deciding to increase tenure of FSA with steel industry to 10 years

Coal India is currently trading at Rs. 277.85, up by 2.10 points or 0.76% from its previous closing of Rs. 275.75 on the BSE.

The scrip opened at Rs. 276.00 and has touched a high and low of Rs. 280.20 and Rs. 275.20 respectively. So far 85319 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 316.55 on 27-Feb-2018 and a 52 week low of Rs. 256.00 on 28-Jun-2018.

Last one week high and low of the scrip stood at Rs. 283.25 and Rs. 272.90 respectively. The current market cap of the company is Rs. 172783.23 crore.

The promoters holding in the company stood at 78.32%, while Institutions and Non-Institutions held 18.70% and 2.98% respectively.

Coal India has decided to increase the tenure of fuel supply pacts to be signed with the steel industry to 10 years in a bid to reduce dependence of steel sector on imported coal. The new fuel supply agreement (FSA) tenure would be applicable from the fourth tranche of the auction of coking coal linkages for the steel sector to be held shortly.

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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