Coal India Ltd.’s offtake in September grew at the slowest pace in nearly two years due to a high base and monsoon season.
Dispatches of the world’s largest miner of the fossil fuel rose less than a percent last month to 43.91 million tonnes—the lowest level since October 2016—according to Bloomberg data. Offtake in the April-September period rose 8.1 percent year-on-year to 290.8 million tonnes.
“The negligible offtake growth in September can be attributed to an adverse base effect and monsoon rains hampering loading, particularly at its subsidiaries,” Nomura said in a note. The output growth, however, recovered since in the latter half of the month, it said. Read More
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