Coal allocation to power sector dips 29 per cent

Coal allocation to power sector dips 29 per cent

Amir Shaikh
/ Categories: Trending

Coal India’s coal allocation under special forward e-auction for the power sector declined 28.7 per cent to 4.74 million tonnes (MT) in the first quarter of the ongoing fiscal (Q1FY21).

Coal India Limited (CIL) had allocated 6.65 MT of coal in April-June period of the last fiscal. Under this special scheme, coal allocation by the Maharatna firm declined from 0.88 MT in June 2019 to 0.64 MT in the last month.

As on June 30, 2020, out of the total power capacity, 62.2 per cent belongs to thermal. Around 53.6 per cent of the total thermal belongs to coal and Coal India is one of the major suppliers of coal to the power sector. Due to COVID-19 impact, the PSU companies are going through challenging times as the supply and demand both have been disrupted severely. Further, many states and major cities have been imposing lockdown, which would remain an overhang on the sector.

Coal India is the world’s largest coal mining company. It also produces non-coking coal as well as coking coal of various grades for diverse applications.

The stock of Coal India in today’s trading session opened at Rs 130.90 apiece as against the previous close of Rs 129.95 but later, it cooled down and at 12.22 pm, it was trading in a negative 

Previous Article Ten stocks close to their 52-week high
Next Article Best Agrolife rises 2 per cent after Resonance Opportunities Fund picks up stake
Rate this article:
4.3

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR