Meanwhile, the BSE Sensex was down 21.71 points, or 0.08%, to 27,216.35.
On the BSE, so far 71,000 shares were traded in the counter, compared with average daily volumes of 3.03 lakh shares in the past one quarter. Trading in the counter was volatile in early trade. The stock rose 1.65% at the day’s high of Rs 320 in early trade. The stock fell 1.25% at the day’s low of Rs 310.85 in early trade.
The stock hit a 52-week high of Rs 349.85 on 17 August 2016. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past 30 days till 13 January 2017, rising 8.46% compared with the 2.71% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 0.56% as against Sensex’s 1.57% decline.
The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
The board of directors of Central Coalfields, a subsidiary of Coal India (CIL), approved revision of coking coal prices 14 January 2017. The increase in price is done by subsuming the washery recovery charge (WRC) which was being charged separately in the case of non-linked washery grade coking coal keeping in view the observation of ADRM. Due to this revision, Coal India (CIL) will earn approximately additional revenue of Rs 89.98 crore for the balance period of financial year 2016-2017, i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 222 crore for financial year 2017-2018 subject to achievement of production and dispatch target norms. The announcement was made on Saturday, 14 January 2017.
In a separate announcement after market hours on Friday, 13 January 2017, CIL said that the board of Bharat Coking Coal, a subsidiary of CIL, approved revision of coking coal prices from 13 January 2017, approximately 20% increase over the current price while the price of steel grade of coal and direct feed coal has been linked to price of washed coking coal which has been fixed on import parity price . The increase in price is done by subsuming the washery recovery charge (WRC) whIch was being charged separately keeping in view the observation of ADRM. Due to this revision, CIL will earn approximately additional revenue of Rs 702 crore for the balance period of financial year 2016-2017 i.e. from 13 January 2017 to 31 March 2017 and additional revenue of Rs 2986 crore (approximately) for financial year 2017-2018 on achieving the targeted production and despatch programme.
On a consolidated basis, Coal India’s net profit fell 77.37% to Rs 600.44 crore on 7.74% decline in net sales to Rs 15645.05 crore in Q2 September 2016 over Q2 September 2015