Aggrieved with the Centre and CIL for not making headway in forming a Joint Bipartite Committee for Coal Industry
Last fiscal, Coal India production grew at 8.5% to 536 mt, but the miner missed its target of 550 mt
Company had set a target of 43.31 million tonnes output in June
Close to a dozen power plants across UP, Maharashtra and West Bengal cited reasons like high stock at plant sites or backing down of power demand by host states
The firm has agreed to part with nearly Rs 6,000 crore from its cash reserves
Coal behemoth also revised the modalities for exclusive e-auction for the first phase of exclusive e-auction for 2016-17
The buyback will be at a price of Rs 23,171.89 per equity shares payable in cash
The higher G1-G5 grade coal is dug out of underground mines in which the company has invested heavily over the years
Sources say the buyback size could be at least 5% of the paid-up capital
Sales for May 2016 was 89% at 45.53 million tonne against a target of 50.90 million tonne
Coal India had earlier said it will conduct the auction of coal linkages for the sponge iron sector on May 31
CIL to raise coal prices by 6.3%. The move aimed at raising revenue margins
The 6.3% FSA price hike announced by the company will translate into additional revenue of about Rs 3,200 crore which is equivalent to 4% of FY16 revenues
The stock was up 5% to Rs 296 after the company raised prices by 6.29% across all its subsidiaries for both the regulated and non-regulated sectors.
Record coal production offset by increasing cost; net sales increased by 5% to Rs 75,644 cr during FY16
Coal India Ltd (CIL) revised the price of non-coking coal to keep the domestic coal prices at globally competitive level. CIL revised the prices across all grades for use in power sector. The revision would have a positive impact of Rs 3,900 crore on the firm, said CIL. The new price regime would be effective from Monday.
The company's total income increased to Rs 21,402.75 crore in the fourth quarter of the last fiscal ended March 31, from Rs 21,339.55 crore in the year-ago period
The company had earlier reported a net profit of Rs 4,239 crore in the same quarter of last financial year
Of the total coal to be offered, over 63 MT will be offered for special forward e-auction for power producers and 16 MT will be earmarked for exclusive e-auction for non-power consumers
The development of underground coal gasification (UCG) is envisaged to provide energy security