As the Union Budget 2019 is presented in the parliament, share price of Coal India fell by 3.33 per cent. The stocks opened at 251.50 and closed at 242.75
The BSE group ‘A’ stock of face value Rs 10 has touched a 52-week high of Rs 299.60 on 28 August 2018 and a 52-week low of Rs 212 on 14 February 2019.
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The stock has fallen 3% in the last one year, compared with a 12% rise in the benchmark Nifty 50 index. The promoters holding in the company stood at 70.96%, while Institutions and Non-Institutions held 26.09% and 2.95%, respectively.
Coal India recently said it is aiming more than 8% growth in production at 660 million tonnes in 2019-20 compared to 607 million tonnes in the last fiscal year and is also planning a capital expenditure of Rs 10,000 crore in the current fiscal.
Besides, the target for revenue from operations (net) has been fixed at Rs 1 lakh crore for FY2019-20. The company ended 2018-19 with a coal production of 606.88 million tonnes, against the MoU target of 610 million tonnes. Earlier, the company had inked an MoU with the ministry of coal for its key performance areas for the fiscal 2019-20.
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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