Coal India’s e-auction sales grow 52% in April-May

Demand from Coal India’s (CIL) e-auction sales have started looking up after it had dived down, when for most of the time last fiscal, the miner had to auction at a notified price for about six months to gain volumes in an effective short-of-demand market.

For the first two months this fiscal, the company posted 52.5% growth, in auction bookings with the total allocated quantity at 21.5 million tonne (MT), under the five auction windows, against 14.1 MT for the comparable period last fiscal.