Friday , December 3 2021

Coal India rises on getting board’s approval to venture into Aluminium, Solar sectors

Coal India is currently trading at Rs. 138.40, up by 2.20 points or 1.62% from its previous closing of Rs. 136.20 on the BSE.

The scrip opened at Rs. 140.75 and has touched a high and low of Rs. 140.75 and Rs. 137.75 respectively. So far 204126 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 214.50 on 15-Jan-2020 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. 142.00 and Rs. 129.30 respectively. The current market cap of the company is Rs. 83936.36 crore.

The promoters holding in the company stood at 66.13%, while Institutions and Non-Institutions held 29.10% and 4.69% respectively.

Coal India’s (CIL) board has accorded its ‘In-Principle’ approval to venture into Aluminium Value chain (Mining-Refining-Smelting) and Solar Power Value Chain (Ingot-Wafer-Cell-Module and Generation).

The board also approved creating SPVs, subject to obtaining concurrence from Niti Aayog, DIPAM and after completion of feasibility studies and business analysis. The feasibility analysis has to be conducted for the solar power value chain business vertical at CIL, new and renewable energy (non-conventional) business vertical and integrated aluminium complex — a greenfield project by CIL subsidiary Central Coalfields.

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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