Page 29 - Coal India

Coal India trades ex-interim dividend; stock down 2%

The stock was down 2.4% at Rs 291, the largest loser among the Sensex and Nifty 50 index at 09:37 am

Coal India announces second interim dividend for 2016-17

The PSU is aiming at 1 billion tonnes of output by 2020

CCI reduces penalty on Coal India by half on 'unfair' coal supply

Upholds allegations of unfair practise and abusing monopoly against coal behemoth

CCI slaps Rs 591 crore penalty on Coal India

Penalty amount of Rs 591 cr translates to 1% of Coal India's average turnover for 3-year period

Rs 16.6k-crore payout to erase 44% net worth of CIL

In its bid to implement the DIPAM (Department of Investment and Public Asset Management) guidelines in the Interim Dividend payout on Wednesday, world's largest coal miner, Coal India may be overstretching itself by parting with about 43 per cent of its cash reserves which will effectively erode the company's net worth by 44 per cent.While the DIPAM guidelines, which Coal India is implementing this year, mandates a minimum five per cent of its net worth or 30 per cent of its net profit to be given out as dividend, the coal behemoth, as per company estimates, is expected to pay a Rs. 16,600 crore Interim dividend. In this case, this amount will mean a decline of 44 per cent in its net worth or a payout of 2.6 times its net profit - both far exceeding the minimum benchmark of the DIPAM guidelines.As per Coal India officials, the company's cash reserves is estimated around Rs. 38,000 crore and analysts said the company's net worth stood at Rs. 37,300 crore as on September 30, 2016.The ...

CIL may miss output target by 20 MT this fiscal: Coal Secy

State-owned Coal India is likely to miss the production target by 20 MT and may end up producing up to 578 million tonnes this fiscal due to a string of issues, including evacuation and demand-supply, a top official has said. The world's largest miner is aiming to ramp up its output to 1 billion tonnes by 2020. "CIL may miss (production target) by 20 million tonnes (MT) and it (the output) should be between 570-578 MT," Coal Secretary Susheel Kumar told PTI. The PSU has set a target of 598 MT production in 2016-17. "Coal India is trying to meet their production target. It has promised me that it will try its best to meet the target and it is geared up," the Secretary said. Coal India, he said, may not be able to meet the target as the PSU is facing a lot of issues. In Mahanadi Coalfields Ltd (a Coal India arm) there were serious problems like resettlement and rehabilitation (R&R). "There are problems also. Now that I have visited MCL (Mahanadi Coalfields Ltd), WCL (Western

Coal India aims 400 mt output from 121 projectss this FY

CIL will make a presentation at investors' meet, to be held from March 13-15 in Hong Kong, Singapore

Bearish sentiment towards Coal India could reverse soon

Improving volumes led by power sector demand and better e-auction realisation make stock attractive

Coal India to diversify into 'coal to chemical' business

It may do it by converting the high calorific value, low ash thermal coal into chemical

CIL to again fund Centre via share buyback

Coal India would again be generating cash for the central government, its principal shareholder, via the capital buyback guidelines issued last year.In October last year, the monolith had extinguished 1.72 per cent of its shares after a buyback, estimated to have generated cash of Rs 2,500 crore for the Centre. The total cash given to the shareholders was Rs 3650 crore.Now, to again raise money for its shareholders via interim dividend,, Coal India is banking on its subsidiaries. "The buyback process is happening as per the Dipam (department of investment and public asset management) guidelines", a Coal India executive told this newspaper.The guidelines make it mandatory for every public sector undertaking having a net worth of at least Rs. 2,000 crore and a cash and bank balance of Rs 1,000 crore to buy back a maximum 25 per cent of its equity shares. Thus, five of Coal India's seven mining subsidiary companies have to compulsorily buy back their shares and release idle capital. ...

Coal India arm Northern Coalfields okays Rs 1,244-cr share buyback plan

Equity shares proposed to be bought back make up 4.29% of existing paid up capital of the company

Coal India gains on interim dividend plan

The board will meet on March 06, 2017, to consider payment of interim dividend for the year 2016-17.

Chinks open in Coal India's near monopoly

State behemoth's hegemony is unlikely to reduce significantly for quite a while

Coal India Q3 net profit dips 22% to Rs 2,884 cr

However, the company's total income rose to Rs 21,531.2 crore in the quarter

Coal India faces pay hike stress amid tepid demand

After last revision in 2011, company's annual salary bill was raised by Rs 5,000 cr

Coal India bets big on e-auction as demand declines

The company is targeting to put on block at least 235 mt of coal in three years to increase revenue

Coal India joins the sports sponsorship league

By backing hockey tournament for first time, it closed a key gap in its sports promotion policy

Coal India supply to power sector dropped by 3.6% to 288 mt in Apr-Dec 2016

According to official data, coal dispatches to the power sector in the previous FY were 299.1 mt

CIL ups coking coal price amid low output

Rise of 141% in international prices helped Coal India raise the rates of coking coal

After Rajmahal disaster, CIL's outsourcing under a cloud

Workers, mines safety director-general question lapses