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Disinvestment: Coal India, KIOCL to buy back shares next month
Posted on 19th September 2018
Giving a leg-up to the Centre’s disinvestment scheme, state-run Coal India (CIL) and KIOCL (formerly Kudremukh Iron Ore Co) will buy back their own shares next month.

CIL’s wholly-owned subsidiary Mahanadi Coalfields (MCL) will buy back shares equivalent to 25% of its aggregate fully paid-up share capital and free reserves from the parent.

CIL plans expansion, begins talks with Bangladesh for coal exploration
Posted on 12th September 2018
Keen to expand its footprint across the border, Coal India (CIL) has initiated talks with Barapukuria Coal Mining Company (BCMC), Bangladesh’s sole coal producer, to help it explore coal mines as well as set up new projects.

BCMC is a subsidiary of the Bangladesh government-owned Petrobangla, with extremely limited mining capability. “We have visited Bangladesh and spoken to this company’s as well as Petrobangla's top executives.

Coal India asked to speed up siding pact with railways
Posted on 5th September 2018
In the wake of shortage of fuel in thermal power plants due to inadequate transportation facilities, Coal India (CIL) has been asked to expedite the signing of private siding agreement with Railways. The process, which started in 2014, has been shuttling between the two ministries since then.

A railway siding is an area which is used for loading and unloading of coal in train rakes.

CIL to levy interest for delay in payments beyond 15 days
Posted on 23rd August 2018
KOLKATA: Coal India (CIL) will strictly implement its credit policy and levy penal interest on payment delayed beyond 15 days, and stop supply if money is not paid in a month as the company wants to bring down receivables that touched Rs 12,500 crore in April.

“Although we have a policy of levying penal interest and discontinuing coal supplies if dues extend beyond a month, it was never implemented strictly.

Uncertainty ahead? Coal importers keep close watch on events abroad
Posted on 21st August 2018
India’s metal and power producers could be up for uncertain times. Between now and 2019, the raw material sourcing teams for these companies will keep a close eye on the changing geopolitical picture of at least three countries — Indonesia, Australia and Mozambique. The first two prepare for elections and one is facing unrest.

Coal India’s share sale plans eclipse bright outlook for FY19
Posted on 20th August 2018
After a reasonably good start to the first quarter, Coal India Ltd’s outlook for the rest of the fiscal year also looks bright. Demand from the power sector is expected to be strong. Coal stocks at power plants are low. Analysts believe the adverse impact of wage provision and coal grade slippages have also been factored in. Consequently, Coal India is set to benefit from better volume and price increases going ahead.

NTPC may issue 2.5 mt coal import tender by mid-September
Posted on 14th August 2018
NTPC, India’s largest power producer, is planning to issue a tender for import of 2.5 million tonne of coal by mid-September to cater to the growing power demand in the country. The PSU last imported coal three years ago.

Gurdeep Singh, chairman and managing director of NTPC, said the imports would be through a competitive bidding. The coal will be utilised by our coastal power projects in Simhadri, Kudgi and Farakka,” he said.

Coal India Q1 profit up 61 pc at Rs 3,786 cr
Posted on 11th August 2018
Coal India Ltd (CIL) today posted 61.07 per cent jump in consolidated net profit at Rs 3,786.44 crore for the June quarter of 2018-19 financial year.

It had reported a net profit of Rs 2,350.78 crore in the same quarter of 2017-18, the state-owned company said in a regulatory filing.

Coal stockpiles rise at ports as rail-car shortage slows deliveries
Posted on 3rd August 2018
The port blockages reflect the inability of India’s infrastructure to cope with an expanding economy and consumption. Freight and passenger trains jostle for space on the same tracks, and goods carriers often have to make way for passenger traffic, prolonging the turnaround time for carriages to haul coal, the mainstay of power generation in the country.

Coal India output rises 14 per cent to 177 million tonnes in four months
Posted on 2nd August 2018
State-owned CIL today said it produced 177.43 million tonnes of coal in the first four months of the ongoing fiscal, registering a growth of 14 per cent. It had produced 155.53 million tonnes (MT) of coal in the year-ago period, Coal India Ltd said in a filing to BSE. In July CIL produced 40.56 MT coal, against 36.69 a year ago. The state-owned firm accounts for over 80 per cent of the domestic coal production.

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