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Coal India extends fall as share sale begins
Posted on 31st October 2018
Shares of Coal India were down by 4.4% at Rs 265 per share on Wednesday in early morning trade, extending their 4% decline in the previous day on the BSE after the company’s offer for sale (OFS) of its equity shares began today.

The shares will be sold at a floor price of Rs 266, and the sale will be conducted on Wednesday and Thursday, the company said in a filing. The floor price is at a discount of 4% to Tuesday's closing price of Rs 277 on the BSE.

CIL offers additional supplies to power sector
Posted on 23rd October 2018
Coal India (CIL) has offered five million tonne of extra coal to state-run NTPC on a credit basis and agreed to supply 7.94 lakh tonne of domestic coal per month to power utilities on condition that the power utilities will cut on imports, an official said. The miner has prioritised coal supplies to the power stations of eastern states for ensured generation to meet the increased power demand during the just concluded Durga Puja festival.

Coal India to increase tenure of supply pacts with steel industry to 10 yrs
Posted on 19th October 2018
Coal India has decided to increase the tenure of fuel supply pacts to be signed with the steel industry to 10 years with a view to reducing the sector's reliance on imports for the fuel, according to a notice.

The new FSA tenure would be applicable from the fourth tranche of the auction of coking coal linkages for the steel sector to be held shortly, Coal India said in a notice to its subsidiaries.

Govt raps CIL execs over production as coal availability remains a worry
Posted on 12th October 2018
The government has told coal companies to immediately ramp up production even as it slammed their executives for not reviewing production regularly, as coal availability remains a worry.

The normative coal stock at power units — which used to be for 20-25 days — is down by half to 10-12 days. There are currently 10 units which have zero coal stock, 46 with just one-day stock and 31 with coal stock ranging from seven to 15 days.

IRCTC scam: Bail granted to Lalu's wife Rabri Devi, son Tejashwi Yadav
Posted on 6th October 2018
A Delhi court Saturday granted bail to RJD chief Lalu Prasad's wife Rabri Devi and son Tejashwi Yadav and others in an Indian Railway Catering and Tourism Corporation (IRCTC) scam case lodged by the CBI.

Special Judge Arun Bhardwaj also granted interim bail till November 19 to Rabri Devi, Tejashwi Yadav and others in a money laundering case filed by Enforcement Directorate (ED) in relation to the alleged scam.

Bonanza for Coal India staff! CIL employees to get Rs 60,500 performance-linked bonus
Posted on 5th October 2018
Coal India (CIL) has approved the performance linked reward of Rs 60,500 for its non-executive employees against the company’s performance in FY18.

The decision was taken by the company’s standardisation committee on Friday.

Coal scam: Court imposes Rs 200,000 fine for violating bail condition
Posted on 4th October 2018
A special court has imposed a fine of Rs 200,000 on a director of Adhunik Corporation Ltd, accused in a coal scam case, for violating bail conditions by going abroad without its prior permission.

However, Special CBI Judge Bharat Parashar did not cancel the bail after the accused — Mahesh Kumar Agarwal — tendered "unconditional apology" with an undertaking that no such occasion will arise in future, and the Judge directed him to deposit the fine amount in 'Kerala Chief Minister's Distress Relief Fund'.

Coal India plans to pick up 20-30% stake in Australian coal mining firm
Posted on 3rd October 2018
Coal India is in talks with an Australian coal mining company to pick up a stake in the range of 20-30 per cent. If the deal materialises, it will ensure a steady supply of coking coal to Indian steel and allied companies.

The country’s coal giant plans to set up an office in Brisbane this year and the pact will mark its second foray into foreign shores, the first being in Mozambique way back in 2009.

Coal India’s supply to power sector rises 12% to 197 MT in Apr-Aug
Posted on 1st October 2018
The supply of coal by State-owned CIL to the power sector in the first five months of the ongoing fiscal increased by 12.1 per cent to 196.9 million tonnes (MT).

The dispatch of dry fuel by Coal India (CIL) in the April-August period of the 2017-18 was at 175.6 MT, according to official data.

Coal India Rating ‘Buy’: Share buyback plan in the works
Posted on 25th September 2018
Recent media reports (Financial Express) suggest that the Government of India (GoI), as a part of its disinvestment programme for FY19, is finalising a share buyback plan by Coal India (CIL).

Analysis/Implications—Outlay for a share buyback in FY19 would be capped at Rs 29.2 bn (1.6-1.7% of equity shares outstanding assuming buyback price is in the range of Rs 275-300/share)

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