India’s coal imports appear headed for another strong month in August, raising the question as to why the usually cost-sensitive market hasn’t scaled back purchases given a surge in prices to the highest in nearly seven years.
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.
Shares of Coal India today hit a 7-week high, and according to technicals, the stock may test resistance at Rs 290.40. The state-run coal miner shares gained as much as 3.2 per cent to Rs 282.35, highest since June 15.
Dilip Buildcon has been declared as the lowest bidder for a Rs 717.45-crore mining project in Madhya Pradesh.
Coal India Ltd (CIL) is looking to procure mining equipments worth Rs. 12,000-13,000 crore in the next two to three years to ramp up its coal production to one billion tonne.
Kolkata, July 25Shatrughan Sinha and Amitabh Bachchan toiling in the dark caverns of a deep coal mine in the 1979 hit Kala Patthar has more or less come to represent life in the Indian coal industry.
Over the decades, Coal India often reported double-digit growth in production, but coal availability remained an issue due to rail logistics constrains. The problem is now set to be mitigated, courtesy the Centre’s push on infrastructure.
JSW Steel has restarted coking coal mining in the US after a gap of almost three years. Operations in the mines located in West Virginia were suspended after coking coal prices dropped below production cost.
The Enforcement Directorate (ED) has attached fresh assets worth Rs 101 crore of a Maharashtra-based firm in connection with its money laundering probe in the coal scam case, the agency said today.
Domestic thermal coal availability will improve significantly in the second half of the year with the completion of the 45-km Tori-Shivpur rail link, in Jharkhand, helping evacuation of at least 10 rakes (of 3,800 tonne each) daily from the vast Magadh and Amrapali reserves.