Page 27 - Coal India

Coal India to ask pithead plants to use road network

After coal shortage in power generation has staged a comeback with four of them entering the critical and another 12 entering the super critical category in mid-September, Coal India has devised a plan to address the shortage problem asking short distance power plants to use the road ferrying network so that railway rakes can be made available for the thermal generating stations at longer distances.A Coal India official said that to free up railway rakes for longer distance plants, generating stations located within 60 kms from the pitheads (pithead plants) can lift coal as much as they wish (as per the fuel supply agreement) and transport it via trucks which will be cost effective."Usually railway freight costs are higher for short distance while it is cheaper for long distances. Previously, there was a mix between railway and road transport for ferrying coal to plants which are short distance. Now, road transport will be given priority", a company official said.Typically, each ...

Coal India aims to join big league of miners

PSU major diversifies into metals and aims to position itself as a holistic energy company

Coal India nears coking coal asset acquisition in Australia

On the lookout for acquisition of coking coal assets abroad, government-owned Coal India is in an advanced stage of talks with an Australian coal mining company based out of Queensland, where it plans to acquire substantial stake.In this regard, Coal India had floated a closed tender for empanelled merchant bankers, of which PwC and Ernst & Young have shown interest, to carry the transaction forward."The Australian company had asked us to revert after appointing a merchant banker and the tender to select one is in an advanced stage," a senior Coal India official told Business Standard. He said they'd take a "substantial stake", most likely 20-25 per cent at least. A hoc budget of Rs 6,000 crore has been okayed, for now, to take the transaction forward.Without revealing the name of the Australian miner, Coal India sources said the former has six licenses for mining under the application stage and one licence had been granted to it by the Australian authorities.For taking the equity

Coal India sets up monitoring cell for supply to thermal power plants

Monitoring plan aims at coordination with Railways, Power Utilities for supplying coal

Coal India: There's good news finally

For a stock which has lost almost a third of its market value from the highs seen in August last year and having touched its all-time intra-day low of Rs 234 on 11th August 2017, things may be turning around. Coal India's (CIL) dispatch numbers for August month reflect a 19 per cent year-on-year growth, and helped the company's year-to-date run-rate to improve to 6.6 per cent. Although production still lags (down 0.9 per cent during first five months of FY18) as CIL continues to liquidate inventory, August's production was two per cent ahead of target. Analysts at Kotak Institutional Equities feel that coal dispatches should likely improve given the improving profile of generation, and record low levels of inventory at power plants (8 days as of end-August 2017).This is certainly good news for CIL, which has seen volumes take a hit since July last year as power plants resorted to destocking, a trend that continued almost till end of CY2016. Consequently, CIL's dispatches in FY17 grew .

Coal India sets up Control Cell to monitor critical stocks situation

The monitoring plan aims at coordination with railways, power utilities, independent power producers

Why Coal India failed to sign wage revision agreement with the workers

Trade union leaders blamed the coal ministry for the delay

Central Coalfields' Gopal Singh appointed as interim chairman of Coal India

The union coal ministry has appointed the current chairman of Central Coalfields Ltd (CCL), Gopal Singh as the interim chairman of the world's largest coal miner Coal India, after it failed to select a wholetime candidate to head the Maharatna company.Sources said, the ministry has communicated to the company, a day after Sutirtha Bhattacharya, the immediate past chairman retired on August 31, that Singh will be given the additional charge of chairman of Coal India apart from his regular duty to head CCL."Singh will continue to head Coal India until a regular full time chairman is appointed", a senior company executive said. Interestingly, Singh had applied for the top job in April this year sending his resume to the Public Enterprises Selection Board (PESB). However, the PESB, rejected Singh alongwith five other applicants stating that it hasn't found any applicants suitable for the post. Business Standard was the first to report about Singh's application."His application was ...

Coal India's profits may fall 9% post wage negotiation

The company is estimated to have conceded to a Rs 5,000 crore wage hike

Coal India workers get 20 per cent wage hike after prolonged bargaining

The salary hike will be applicable from June 2016 onwards

NITI Aayog suggests break up of Coal India subsidiaries into separate arms

It also suggested using a market mechanism to open the sector for commercial mining

No respite for Coal India in Q1

Continued wage provisioning pulled down profitability

Relief for Coal India as NCLAT stays two competition commission orders

CCI had in May ordered CIL to rework the fuel supply agreements

No immediate respite for Coal India investors

Coal India has been in the news for better e-auction prices in June, recommendations of NITI Aayog on free pricing and proposal to restructure the company into smaller ones. While some of the news is positive, the company's near-term prospects look subdued on realisation and cost worries.The higher e-auction realisation in June is certainly positive for the company's profitability. E-auction realisations had fallen sharply earlier this year when demand suffered, but have been recovering in the last couple of months. However, the bigger concern of analysts is the rising share of supplies under Fuel Supply Agreements (FSA) which are less remunerative, and realisations suffering after mine degradation.While wage hikes and gratuity increase is putting stress on costs, the street is worried about lower coal grades putting pressure on realisations; higher share of FSA supplies is only adding to the woes. The wage negotiations are likely to be completed soon and clarity may emerge, but on ...

Coal India's trade unions in pursuit of global exposure

Firm's largest union is attending summit in Geneva in bid to improvise organisational capabilities

Coal India to shut 37 mines tin FY18: Sources

The move will lead to the redeployment of about 11,000 workers

Coal India hits over 3-year low as Q4 earnings miss analysts estimates

The stock, today, posted biggest percentage loss since March 14 and has been down 10.9% this year

Amid low e-auction realisations, Coal India Q4 net falls 38% to Rs 2,716 cr

Government-owned Coal India had a 38 per cent fall in net profit for the quarter ended March 31, at Rs 2,716 crore. For all of 2016-17, the fall was 35 per cent, to Rs 9,266 crore. Tepid power demand, falling realisations from e-auctions and striving to keep prices 18-20 per cent below international levels have been given as reasons. The fall is although the revenue from operations in the quarter increased by 8.6 per cent, to Rs 24,780 crore.In the quarter, final one of 2016-17, apart from increase in expenses on contract labour, employee benefits and corporate social responsibility, provisioning of Rs 1,239 crore increased the cost under this overhead by 325 per cent, which pulled up total expenses by 23 per cent to Rs 22,358 crore."While expenses increased manifold, the company wasn't able to generate enough revenue to meet this expense," an analyst said. Ravi Kataria, managing director at Investment Imperative Group, said: "Coal India has incurred mine development expenses, while .

Coal India Q4 net falls 38% to Rs 2,716 crore

Coal production rose to 176.37 mt in fourth quarter from 165.24 mt a year earlier

Coal India wins tax-cut boost as environmentalists fret

Coal India hopes the lowering of the coal sales tax to 5 percent currently will help it find buyers