With Coal India, the state-run miner, unable to meet domestic demand, state utilities in Tamil Nadu, Karnataka, Maharashtra and Gujarat and even NTPC have begun issuing tenders to import coal, reports Business Standard
Coal India subsidiary Northern Coalfields Limited (NCL) on Saturday said the state-run power producer NTPC has urged the miner to further extend its support to the up-country power stations of it, under flexi utilisation of domestic coal scheme after “sufficient” fuel being supplied to its pithead thermal power plants by the miner.
Coal India’s subsidiary Mahanadi Coalfields Limited (MCL) on Saturday said production and dispatches at its Talcher unit in Angul district of Odisha came to a “grinding halt” in the last few days due to a stir by local activists.
Coal India (CIL) is expected to put another 25-30 million tonnes (mt) of coal under the hammer in the ongoing quarter. This comes after e-auction volumes dipped following the decision to pump more coal into the coal-starved power sector through fuel-supply agreements (FSAs).
Coal India is expected to lose at least 3.6 million tonne (mt) of production and an equal amount of coal sales, estimated around Rs 500 crore, after four central trade unions (CTUs) decided to join the nationwide two-day strike beginning on January 8.
Private wagon manufacturers are upbeat about demand improving with Coal India Limited (CIL) renewing efforts to procure its own wagons.
Coal India is expected to put another 25-30 million tonne (mt) of coal under the hammer in the ongoing fiscal quarter. This is after e-auction volumes dipped following the decision to pump in more coal to the power sector via fuel supply agreements.
Coal India fell 0.4 percent in morning on Friday after global research house CIMB has reduce call on the stock and slashed its target price to Rs 212 from Rs 245 earlier. The reason behind cutting price target and having reduce call is earnings concerns going ahead.
The government will not conduct any auctions for commercial coal mining until the elections. The move follows sustained pressure from Coal India unions that have threatened to go on strike.
Coal India Ltd.’s shipment fell for the first time in two years in December because of operational issues at its largest subsidiary. Shipments of the state-run miner dropped 1.3 percent on a yearly basis—the first time since October 2016