Coal India gains 2.5% after it records first output growth in 2020-21
Shares of Coal India were up 2.5 per cent at Rs 136.90 on the BSE in the early morning trade on Wednesday after the company registered a 7.1 per cent year-on-year (YoY) growth in coal output at 37.17 million tonnes (MT) in August 2020.
The state-owned company said that coal off-take increased 9.3 per cent at 44.34 MT in last month compared to the same period a year ago. For the first time in the ongoing fiscal, Coal India has recorded growth in both production and off-take.
Coal India has set the capital expenditure at Rs 10,000 crore for the year 2020-21. The company, in its 2019-20 annual report, said that it has planned to invest substantial amount in diversification projects viz. solar power, revival of fertilizer plants, coal gasification, coal bed methane (CBM), and rail wagon procurement etc. during 2020-21.
