Shares of State-owned Coal India (CIL) rallied 5% to Rs 240 in Tuesday’s trade on BSE after the company posted 13.4% growth in coal production at 53.6 MTs in July 2023 over last year’s July. The output increased by 6.3 MTs compared to 47.3 MTs production on July 22.
“Progressively CIL’s production soared to 229.1 MTs till July’23 in the current financial year achieving 99% target satisfaction. The production is almost on track with the asking growth rate for the year. Marking a whopping 22.2 MTs increase in volume terms CIL logged 10.7% growth compared to 207 MTs of April-July 2022,” the company said in an exchange filing.
