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Coal India rises despite its coal allocation under spot e-auction scheme falls by 38% in FY19

Coal India is currently trading at Rs. 249.35, up by 0.45 points or 0.18% from its previous closing of Rs. 248.90 on the BSE.

The scrip opened at Rs. 249.40 and has touched a high and low of Rs. 250.60 and Rs. 248.55 respectively. So far 4942 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 303.00 on 31-May-2018 and a 52 week low of Rs. 212.00 on 14-Feb-2019.

Last one week high and low of the scrip stood at Rs. 255.75 and Rs. 248.05 respectively. The current market cap of the company is Rs. 153390.31 crore.

The promoters holding in the company stood at 70.96%, while Institutions and Non-Institutions held 26.09% and 2.95% respectively.

Coal India’s coal allocation under spot e-auction scheme has declined by 37.7 per cent to 34.34 million tonnes in the last fiscal (2018-19). The company had allocated 55.17 million tonnes (MT) of coal in FY 2018.

The company’s coal distribution through e-auction was introduced with a view to provide access to coal for such buyers who are not able to source the dry fuel through the available institutional mechanism.

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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