Page 5 - Coal India Limited

Coal consumers body seeks renewal of rake-based supply to non-power sector

The Coal Consumers Association of India (CCAI) has made a plea to the government to resume rake-based supplies to the non-power sector in a bid to maintain cost competitiveness and sustain operations. Despite Coal India's production and despatches improving considerably this year, the supply of dry fuel to the non-power sector continues to languish below optimal levels amidst spiralling costs. This situation has led to the non-power sector relying on road-based supplies, in turn leading to soaring costs for its constituent industries. Converting rail quantities to road offtake often attracts higher premiums than those already paid to Coal India Ltd (CIL) for rake-based supplies, CCAI said. "...converting rail quantity to road offtake may often lead to a higher premium for coal which may be more than the premium paid to CIL for supply via rail mode. This is invariably adding the additional burden of cost on the NRS (non-regulated sector) consumers on top of the higher transportation

Coal pensioners protest in capital, demand review of pension scheme

Agitators seek dearness relief as scheme component to ensure equitable pension; want adherence to provisions of CMPS 1998 on review and revision of pension every three years

Thermal plants have adequate coal stocks at 25.6 million tonnes, says govt

The domestic coal supply to the power sector in October is 12 per cent more than the same period of last year.

Stocks to watch: Tata Motors, Coal India, Paytm, Sun Pharma, GCPL, VST Inds

Stocks to watch today: Tata Motors, Pidilite Industries will report the July-September quarter (Q2FY23) results on Wednesday, November 9; Coal India saw 102 per cent jump in net profit to Rs 6,044 cr

Coal India Q2 net profit zooms 106% to Rs 6,044 crore on high sales

The company's profit for the first half of the fiscal year spiked 143 per cent to Rs 14,878 crore

Coal pensioners to agitate for dearness relief in pay, pension body revamp

Retired Employees Association says nearly 270,000 pensioners are getting less than Rs 2,000 a month as pension

Coal India powers productivity spurt, but can it sustain the pace?

The furious pace of production has helped prevent the blackouts of last year but there are questions over whether the state-owned miner can sustain the pace

Coal India subsidiaries need to achieve annual targets: Pralhad Joshi

Union Coal Minister Pralhad Joshi on Thursday said to meet the coal requirements of the country, it is necessary that all subsidiaries of Coal India Ltd (CIL) achieve their annual targets. Joshi visited Western Coalfields Ltd headquarters in Nagpur and attended various programmes, said a press release issued by WCL. Western Coalfields Ltd (WCL) is one of the eight subsidiary companies of CIL, a central PSU. The minister also presided over a review meeting and took stock of the production, productivity and coal dispatch status of WCL, said the release. Chairman-cum-Managing Director of WCL Manoj Kumar briefed the minister on coal mining activities and assured the company would achieve the production target by the year-end. In order to meet the coal requirements of the country, it is necessary that all CIL subsidiaries achieve their annual targets, the release quoted Joshi as saying. He said to make the country self-reliant in the coal sector, it is necessary to strengthen the ...

CIL will achieve 1 bn tonne coal production target by FY26: Pralhad Joshi

CIL will achieve 1 billion tonne coal production target by 2025-26 as against the earlier timeline of 2023-24 in view of the COVID-19 pandemic, Union Minister Pralhad Joshi said on Wednesday. Coal India Ltd (CIL) accounts for over 80 per cent of the domestic coal output. "Due to COVID our earlier target has been postponed. We will fulfil our dream of one billion tonne and we will be aatmanirbhar in thermal coal...By 2025-26, Coal India will produce one billion tonne," Joshi said on the sidelines of a function here. CIL was earlier eying 1 billion tonne coal production by 2023-24. Replying to a question, he said as far as thermal power plants are concerned, there is an average coal stock of 24 million tonne and day-to-day stock of the fossil fuel is adding. "Our plan is to keep at least 40 million tonne of coal as far as March 31 is concerned," he said. Coal output by CIL in current financial year is expected to be 700 MT and there would be additional output of 200 MT from othe

Stocks to Watch: TCS, HDFC, Oil, Tata Steel, KEC, Banks, Coal India

Stocks to Watch Today: TCS is set to win $2 billion deal. Also, shares of oil related companies are likely to be in focus ahead of the OPEC+ meet on likely production cut.

Gencos procure 5.8% of total order value from Coal India's import tenders

CoalMin confident that domestic supply will meet festive season's power demand

CIL to ink pacts with BHEL, IOCL, GAIL for 4 coal gasification projects

State-owned CIL will sign agreements with three public sector enterprises -- Bharat Heavy Electricals Ltd (BHEL), Indian Oil Corporation Ltd (IOCL) and GAIL (India)-- in order to set up four surface gasification projects. Through gasification process, coal is converted into syngas -- a fuel gas -- which can be used in downstream production of value added chemicals. The government aims to achieve 100 million tonnes of coal gasification in the next eight years in order to reduce the import of crude oil which is otherwise used to produce syngas. "Coal India Limited (CIL), under the aegis of Ministry of Coal, will be inking three major Memorandum of Undertaking (MoU) on September 27," the coal ministry said in a statement. The proposed projects would reduce forex outgo and create around 23,000 jobs, it said. The government had earlier said that the target to gasify 100 million tonnes of coal by 2030 will entail an investment of over Rs 4 lakh crore. This 100 MT coal gasification will

Coal India, NTPC, Railways can help meet clean energy goals by 2050: Report

Three of India's biggest central state-owned enterprises, Coal India Limited, NTPC, and Indian Railways can help the country reach its climate goals while seizing a share of the clean energy market

Coal price hike remains difficult for CIL: Chairman tells analysts

Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. Coal India has not raised prices in the last four years. "All stakeholders are not coming on board," Coal India chairman Pramod Agrawal told analysts, responding to questions on coal price. Coal India was rather focussing on ramping up production and cost control to overcome the cost pressure. The miner posted its best-ever profit for the April-June quarter, backed by high demand for coal. It posted a 179 per cent year-on-year rise in its consolidated net profit to Rs 8,832.86 crore for the first quarter. Coal India was hopeful of reaching close to the H1 production target of 306 million tonne by September. For FY23, the annual production target is 700 million tonne. Coal India expects to ach

Coal India aims to reach close to its production target of 306 MT in H1FY23

State-owned CIL on Wednesday said it will reach close to its production target of 306 million tonnes (MT) in the first half of FY23, provided its mining areas are not extremely affected by heavy rains this month. Coal India Ltd (CIL) accounts for over 80 per cent of domestic coal output. "At the current pace of production...the company is hopeful of reaching close to the apportioned H1 target of 306 MT," CIL said. Of the total production target of 700 MT for FY23, the output split is around 44 per cent in the first half and 56 per cent in the second half, the company said in a statement. Coal India's production increased by 44.6 million tonnes in just five months and four days of the ongoing fiscal (as of September 4). CIL's progressive production touched 259.6 MT as on 4 September, compared to 215 MT during the same period date last year, the statement said. The public sector unit began to chase the production output with growth rate of 12.4 per cent which, on the back of a stro

Why are public sector companies unable to attract talent for higher posts

It is not just that state-owned company leadership are paid much less than what their smaller competitors are paid but their performance is not linked to rewards

India targets 900 million tonne coal production in FY23: Minister

With regards to commercial mining, coal minister Pralhad Joshi said 43 mines have been awarded during the last two years and that they will generate employment for nearly 32,000 people

Coal stocks at thermal power stations to last 17 days: Senior official

Union coal secretary Anil Kumar Jain on Tuesday said that thermal power stations have coal stocks that will last for the next 17 days and Mahagenco has stocks for eight to 10 days. Jain addressed a press conference along with Coal India Ltd (CIL) chairman Pramod Agrawal at the Western Coalfields Limited (WCL) during their visit to Nagpur. A major decision has been taken with regards to the pension scheme of coal mine workers, Jain said. The CIL gives Rs 10 per tonne of coal production towards pension scheme to coal mine workers, and likewise, the CIL gave approximately Rs 622 crore towards pension scheme out of the total production of 622 million tonnes last year, he said. As private coal companies were not contributing this way, the coal ministry was planning to a make a law wherein such firms will have to contribute around Rs 20 per tonne coal towards pension fund, Jain said. Speaking about the coal supply to Mahagenco and other power companies, Jain said the WCL was supposed to

Coal India shares gain 3% to touch 52-week high on strong Q1 numbers

Coal India Ltd on Wednesday reported an almost three-fold rise in consolidated net profit at Rs 8,832.86 crore for the June 2022 quarter on the back of higher sales.

Sensex up 515 pts, Nifty tops 17,650 on lower-than-expected US inflation

CLOSING BELL: Easing CPI figures reduced the probability of a 75-bps rate hike in the upcoming US FOMC meeting