Coal India Limited

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Nifty Today, Stocks to Buy Today: The Nifty has breached a critical support level at 24,300, and the sharp decline in the banking sector is exacerbating the weakness

Coal India's CSR spend exceeds Rs 5,570 crore over the past decade

Coal India Ltd (CIL) has spent Rs 5,570 crore in Corporate Social Responsibility (CSR) initiatives over the past decade, a top official said on Sunday. Coal India Chairman P M Prasad said the PSU has been focusing on education, healthcare, skill development, sports, and women empowerment. Inaugurating the 3rd CIL CSR Conclave 2024 on Sunday, West Bengal Governor C V Ananda Bose underscored the transformative power of CSR initiatives in improving the lives of communities, particularly in tribal belts of coal-bearing areas. He lauded CIL's contributions, including its efforts to support cancer patients, stating that such initiatives contribute to the holistic development of the nation. CSR initiatives are a powerful tool to transform lives, especially in vulnerable regions, Bose said. "Coal India spent Rs 5,570 crore in Corporate Social Responsibility initiatives over the past 10 years," Prasad said. Coal Secretary Vikram Dev Dutt commended coal companies for their impactful CSR .

Coal gasification projects: Govt gives LoAs to 4 entities for incentives

The government on Thursday gave letters of award to four entities, including BCGCL- a joint venture of CIL-BHEL - for availing fiscal incentives totalling Rs 4,150 crore for setting up coal gasification projects. Letters of Award (LoAs) have been given to CIL-BHEL , a consortium of CIL-GAIL , Coal India Ltd and New Era Cleantech Solution Pvt Ltd. "Ministry of Coal has reached a significant milestone in India's Coal Gasification Initiative with the issuance of LoAs to the selected applicants under Categories I and III of the Rs 8,500 crore Coal Gasification Incentive Scheme," the coal ministry said in a statement. BCGCL has been awarded Rs 1,350 crore of financial incentive under the scheme for its coal gasification project in Lakhanpur, Odisha. With a total investment of Rs 11,768 crore, the project aims to produce 0.66 million tonne per annum of ammonium nitrate. The CIL-GAIL joint venture project in Sonepur Bazari, West Bengal, has been awarded Rs 1,350 crore. This project, costi

Coal India's total production up by 2% to 471 million tonnes in Apr-Nov

State-owned CIL's coal production rose by 2.4 per cent to 471 million tonnes (MT) in the April-November period of the current financial year. Coal India Ltd (CIL) produced 460 MT of coal in the year-ago period. CIL accounts for over 80 per cent of the domestic coal production. The company's production also rose by 1.7 per cent to 67.2 MT in November against 66 MT in the corresponding month a year ago, CIL said in a regulatory filing to BSE. Coal offtake by CIL, which is the amount of dry fuel supplied from coal pitheads, rose by 1.5 per cent to 492.6 MT in the April-November period of the current fiscal, compared to 485.2 MT in the year-ago period. The company's coal offtake in November was almost flat at 63 MT, over 62.9 MT in the corresponding month of the previous fiscal, the filing said. Coal India Ltd said it produced 773.6 million tonnes of coal in 2023-24 but fell short of its production target of 780 MT for the fiscal. Its production was 703.2 MT in the preceding 2022-23

Coal India, Tata Elxsi among 4 stocks to be wary of as market bounces back

Coal India, Tata Elxsi, Schaeffler and ELGI Equipments have witnessed a 'Death Cross' pattern on the daily chart; hence are likely to face downward pressure going ahead.

Coal India's NCL plans to relocate Morwa township in MP for mining project

Coal India arm NCL is planning a huge rehabilitation and resettlement (R&R) project and is working on relocating the residents from the township in Madhya Pradesh's Singrauli, which has 600 million tonnes of mineable coal underneath, company's CMD B Sairam said. Talking to reporters here, Sairam said Morwa township in Singrauli, Madhya Pradesh, is spread across 927 hectares. The project, which is quite huge, will have its own share of challenges as it will involve relocation of the entire Morwa township of Northern Coalfields Ltd (NCL). "The good thing is that in this acquisition, the people are ready to relocate. So half of the problem is solved because the first resistance comes from the people only," the chairman and managing director (CMD) said. Once people are ready, the only thing to decide is the rates of the compensation and the R&R benefits, he said. For the last six months, NCL has been regularly negotiating with the people on rehabilitation and resettlement. "Based .

Thermal coal imports plunge by 31% in Oct on slow power generation

Indian shipments of the fuel used mainly for power generation have been tracking the trajectory of growth in shipments by top importer China over the last year, shoring up international prices

Coal Minister urges CIL to boost production and reduce import reliance

State-owned CIL's priorities should be to ramp up production of coal and scale up supplies to reduce imports, Union Minister G Kishan Reddy has said. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. Speaking at CIL's 50th Foundation Day on Sunday, the minister stressed upon the importance of miners' welfare and the rehabilitation of communities affected by mine closures. "Contractual workers play a significant role in Coal India's output, and I applaud the management's decision to implement Performance Linked Incentives for them, effective FY 2023-24," he was quoted as saying in a coal ministry statement. The launch of commercial coal mining has led to transparency, ease of doing business and investment opportunities, helping open the coal sector. Exuding confidence in CIL, he stated that the company has the competency and commitment to compete in the current open market scenario. While coal will remain a central component of the country's energy landsc

What's led Coal India stock to drop 6% in trade post Q2 results; Details

Coal India's board declared the first interim dividend of FY25 at Rs 15.75 per share

CIL plans to monetise 4 old washeries, aimed at long term supply contract

State-owned Coa India Ltd is exploring options to monetise its four old washeries by leasing out those assets and plans to bundle lease contracts with long-term coal supply agreements. The move aims at optimising asset utilisation. "We are exploring the monetisation of four old washeries," Coal India Ltd (CIL) said in a report. The company which accounts for over 80 per cent of domestic coal output is diversifying its portfolio by setting up a non-coking coal washery at Ib Valley, Lakhanpur in Mahanadi Coalfields Ltd (MCL) -- one of the subsidiaries of CIL. The public sector enterprise commissioned the operation of Madhuband Washery having 5 million tonnes of annual capacity during 2023-24 to further enhance coking coal beneficiation capacity. The company is also setting up three new washeries in Bharat Coking Coal Ltd (BCCL) -- another arm of CIL -- with a total throughput capacity of seven million tonnes per annum. Besides, five coking coal washeries with a total capacity of 14

India set to kick off its first offshore mineral auction: Mines Secretary

He encouraged the industry to study the exploration reports of these blocks and bring in interested domestic and international players

CIL's contribution to govt exchequer rises 2% to Rs 20,072 cr in Apr-Jul

Coal India's contribution to govt exchequer rises 2 pc to Rs 20,072 cr in Apr-July

After SC's ruling on mineral rights, CIL stares at 'hard hit' in Odisha

Coal India has seven coal-producing companies. The impact of the SC ruling on five of these coal-producing companies was zero, Prasad pointed out

CIL actively pursuing acquisition of critical minerals, says chairman

Coal India on Wednesday said it is actively pursuing acquisition of critical minerals, including lithium, in the domestic market and overseas and stressed that it would continue to take part in the auction of such blocks. Critical minerals, including lithium, play a crucial role in the production of clean energy technologies, from wind turbines to electric cars. They are particularly in demand for the production of batteries for electric cars. "With an objective to reduce the import dependence of critical minerals like lithium, cobalt, CIL is actively pursuing acquisition of these mineral assets in India and abroad," Coal India Ltd (CIL) Chairman P M Prasad said during 50th Annual General Meeting of the company. CIL, he said, will continue to participate in e-auction of critical mineral blocks offered by the mines ministry. CIL has successfully opened its account in domestic critical mineral asset, emerging as the preferred bidder for Khattali Chotti graphite block in Alirajpur ..

CIL, GAIL sign agreement to set up coal-to-synthetic natural gas project

State-owned CIL on Monday said it has entered into a joint venture agreement with GAIL (India) Ltd to set up a coal-to-synthetic natural gas project in West Bengal. While Coal India Ltd (CIL) will have 51 per cent shareholding in the joint venture, GAIL, the nation's largest gas transportation and distribution firm, will have 49 per cent. The joint venture will be incorporated as a private limited company. The initial paid-up share capital is Rs 1 lakh, CIL said in a BSE filing. The registered office of the joint venture will be in West Bengal and CIL and GAIL each will have the right to nominate three executives as directors of the JV. Earlier this year, the Cabinet Committee on Economic Affairs had approved setting up a coal-to-synthetic natural gas project through a joint venture between CIL and GAIL, and a coal-to-ammonium nitrate project through a venture between CIL and BHEL. CIL will set up two coal gasification plants as part of efforts to achieve the target of 100 MT coal

Bharat Coking Coal pays first-ever Rs 44 crore dividend to Coal India

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL), paid its first-ever dividend of Rs 44.43 crore to its parent company on Sunday. This milestone follows BCCL's achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore. BCCL chairman-cum-managing director Samiran Dutta formally handed over the dividend to CIL chairman P M Prasad at a ceremony. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1. Dutta attributed the company's strong financial performance and strategic progress to a consistent growth rate of 15 per cent over recent years.

Coal India arm NCL contributed Rs 15,000 cr to govt exchequer in FY24: CMD

Northern Coalfields Ltd (NCL) CMD B Sairam on Saturday said that the company despatched 94 per cent of its total coal to the power sector and contributed Rs 15,000 crore to the central as well as state exchequer in FY24 in the forms of royalty and GST. Sairam also reaffirmed the company's commitment towards fulfilling the energy security of the nation. Speaking at the sidelines of Singrauli Industrial Summit 2024 organised by NCL at its headquarters, the CMD of the Coal India arm also outlined the company's contribution to the inclusive development of the Singrauli region. He also underscored the benefits of adopting an integrated approach based on shared values for the holistic development of Singrauli. The summit was organised with the objectives of driving economic growth, sustainable industrial growth, diversification, harnessing the full industrial potential, and creating employment opportunities with socio-economic upliftment and regional development. The summit marked ...

Strong volume growth, lower costs positive for Coal India's outlook

While operating profit margins are likely to normalise over the next two fiscals, the net profit estimates are being upgraded by analysts on the basis of higher OBR reversals

Advancing 119 projects worth Rs 1,33,576 cr to boost output: Coal India

Coal India Ltd is advancing 119 projects with a capacity of 896 million tonne per year and a sanctioned capital of Rs 1,33,576 crore, the world's largest miner said. These projects, which are at various stages of implementation, are part of CIL's proactive strategy to increase production capacity and meet future coal demands, the company said in its latest annual report. Though the mining major did not specify a timeline for the capex, it said the development of these projects involves substantial investments in advanced mining technologies and infrastructure, aimed at enhancing productivity and ensuring sustainable mining practices. The Kolkata-headquartered company has set an ambitious target of achieving 1 billion tonne of production by 2025-26 to fulfill the nation's coal demand and support the goal of Atmanirbhar Bharat'. In the 2023-24 fiscal, its production stood at 773.6 million tonne. CIL said in 2023-24, one coal mining project with a sanctioned capacity of 20 million to

Coal India forays into critical mineral mining in Madhya Pradesh

CIL won the bid by quoting a mining premium of 150.05 per cent of the value of the mineral despatch, which it will pay to the State of Madhya Pradesh