Coal India’s production and off-take performance energizes scrip

Coal India (CIL) has announced production and off-take performance of its subsidiaries for the month of August 2017 and for April 2017 to August 2017 through a BSE filing on Friday. Out of eight subsidiaries of Coal India, three subsidiaries have achieved over 100%, namely, CCL, NCL and WCL with 149%, 114% and 104% respectively for the month of August 2017. Meanwhile, BCCL, CCL and MCL have reported negative growth of 20.1%, 16.2% and 3.8% respectively from April 2017 to August 2017.
 
Overall, the coal production achievement target for August 2017 stood at 102% at 37.63 million TE. The off-take figures for CIL subsidiaries stood at 43.75 million TE for the month of August 2017. The stock gained 2.35% at Rs 243.95 per share. On the NSE it attracted a total traded volume of 14,36,357 shares and a traded value of Rs 3,477.71 lakhs. On a yearly basis the stock has lost 25.79% and has underperformed the BSE Sensex index and the BSE Metal index.