Refer More. Earn More: Use Your Trade Code to Get Incentives. Learn More
Mutual Funds Sahi Hai!
To avail the service, you will be redirected to loans.geojitcredits.com
Coal India Ltd is up for a third straight session in a row. The stock is quoting at Rs 506.9, up 2.61% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.27% on the day, quoting at 24715.05. The Sensex is at 80979.62, up 1.17%. Coal India Ltd has added around 8.53% in last one month.
Meanwhile, Nifty Energy index of which Coal India Ltd is a constituent, has added around 4.45% in last one month and is currently quoting at 42770.3, up 0.96% on the day. The volume in the stock stood at 88.28 lakh shares today, compared to the daily average of 101.95 lakh shares in last one month.
The benchmark August futures contract for the stock is quoting at Rs 505.5, up 2.39% on the day. Coal India Ltd is up 121.31% in last one year as compared to a 25.71% gain in NIFTY and a 65.47% gain in the Nifty Energy index.
The PE of the stock is 19.24 based on TTM earnings ending March 24.
Coal India (CIL) has successfully opened its account in domestic critical mineral asset emerging as the preferred bidder for Khattali Chotti graphite block in Alirajpur district of Madhya Pradesh. This was under tranche two forward auction held on 9 July by the Ministry of Mines. It would be CIL's first ever non-coal mineral mining venture.
CIL won the bid quoting a mining premium of 150.05 percent of the value of mineral despatch, which it would pay to the State of MP.
CIL shall formally receive the letter of intent once it deposits performance security. Composite license shall be issued to CIL in one year after the company meets the formalities under NIT timeline.
The country's Ministry of Mines had invited bids from potential bidders to participate in the tranche two mineral block auction where CIL under its diversification portfolio won the bid.
With this, CIL is poised to play a supporting role in critical minerals domestically. Based on five bed rock samples from the Khattali Chhoti block, the fixed carbon ranges from 1.99% to 6.50 %. The total area of the block is nearly 600 hectares.