Coal India was down 2.42% to Rs 197.6 at 11:05 IST on the BSE after the company's coal production declined 5.1% to 38.50 million tonnes in July 2019 from 40.58 million tonnes in July 2018.
The announcement was made after market hours yesterday, 1 August 2019.
Meanwhile, the S&P BSE Sensex was down by 320.62 points or 0.87% at 36,697.24.
On the BSE, 89000 shares were traded in the counter so far compared with average daily volumes of 2.26 lakh shares in the past two weeks. The stock had hit a high of Rs 201 so far during the day. The stock hit a low of Rs 195.4 during the day which is also a 52-week low for the counter. The stock hit a 52-week high of Rs 299.6 on 28 August 2018.
The company's coal off-take dropped 2.9% to 46.82 million tonnes in July 2019 from 48.19 million tonnes in July 2018.
On consolidated basis, Coal India's net profit increased 362.5% to Rs 6024.23 crore on 7.9% increase in net sales to Rs 26704.27 crore in Q4 March 2019 over Q4 March 2018. The company will announce its Q1 June 2019 results on 13 August 2019.
The Government of India holds 70.96% stake in Coal India as of 30 June 2019. Coal India is a Public Sector Undertaking (PSU) under Ministry of Coal, Government of India. The company produces non-coking coal and coking coal of various grades for diverse applications.
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