Page 9 - Coal India

Coal India, trade unions sign pact for 19% minimum guaranteed benefit

State-owned Coal India Limited (CIL) and trade unions have agreed to a 19 per cent minimum guaranteed benefit of the monthly emolument, benefitting 2.38 lakh non-executive workers, an official statement said on Wednesday. In this regard, "CIL and the four central trade unions BMS, HMS, AITUC and CITU have inked a Memorandum of Understanding (MoU), recommending 19 per cent Minimum Guaranteed Benefit (MGB) for 2.38 lakh non-executive employees as part of the ongoing National Coal Wage Agreement XI (NCWA-XI)," Ministry of Coal said in a statement. The MoU between CIL and trade unions was signed in Kolkata on Tuesday. The MGB of 19 per cent is on the emoluments as of June 30, 2021, which include basic pay, variable dearness allowance, special dearness allowance and attendance bonus. The Telangana-based Singareni Collieries Company Limited (SCCL) was also the other signatory to the MoU. "A total of around 2.82 lakh employees of both the state-owned coal entities, CIL and SCCL, who were

Coal production rises 16% at 608 mn tonnes during Apr-Dec period of FY23

Coal Ministry sources said that production has increased due to greater usage of mining capacities of captive coal blocks

Coal India registers highest nine-month growth since pre-Covid level

Compared to the April-December period of 2019, the company's coal production grew by 23 per cent

CIL's supply to power sector up 11% to 433 MT in Apr-Dec period of FY23

CIL's coal supply to the power sector rose 11 per cent to 432.7 million tonne in the April-December period of current financial year. In the year-ago period, the supply was 390.2 MT. The supply to the non-power sector last month was 10.5 MT due to increased output. Coal India Ltd's output in April-December 2022-23 increased to 479 MT from 413.6 MT in the year-ago period. "To outdo the annual output target of 700 MT, CIL has to produce 221 MT in Q4 FY23 against 209 MT for comparable quarter last fiscal. Our production pace is already up and expected to rise higher. Another point in our favour is large quantities of over burden removal. We feel positive about scaling over the output target," the company said in a statement. The PSU excavated 1,154 million cubic metres (MCuM) of over burden removal (OBR) till December against 968.6 MCuM in the corresponding period last year. The PSU supplied close to 508 MT of coal to all consuming segments in April- December, registering a growth o

Stocks to Watch: TCS, Tata Motors, Maruti, Coal India, JSW Group, RITES

Stocks to watch today: Tata Motors reported 10 per cent YoY increase in domestic December sales at 72,997 units as against 66,307 units sold last year

India's coal production expected at 997 million tonnes in FY'24

The country is expected to produce 997.14 million tonnes (MT) of coal in the coming financial year. Of the projected figure, state-owed CIL's output is likely to be 760 MT, followed by Singareni Collieries Company Ltd (SCCL) at 75 MT, and captive and others at 162.14 MT, according to government data. During 2024-25, the country is expected to produce 1,111.60 MT of coal, which includes 850 MT by Coal India Ltd (CIL), 181.60 MT by captive and others and 80 MT by SCCL, as per the data. While in FY'26 India's production is expected at 1,288.39 MT, in FY'27 the figure is likely to reach 1,342.80 MT. Coal India accounts for over 80 per cent of domestic coal output. The country is targeting a production of 911 MT in the current fiscal. However, the total demand for coal in 2022-23 is estimated is 1,087 MT. The demand for the dry fuel from the power sector is expected at 775 MT, steel at 70 MT and non-regulated sectors at 242 MT. The government has taken various steps to augment domest

Sensex, Nifty end flat; Broader market outperforms, Titan gains 3%

CLOSING BELL: Auto majors - Maruti and Mahindra & Mahindra were the other prominent gainers among the Sensex 30, while Bharti Airtel and Tata Steel declined around a per cent each

Coal India to meet 700 MT production target of FY23, says chairman

Coal India Chairman Pramod Agrawal on Tuesday exuded confidence that the PSU will achieve the production target of 700 million tonnes for the current financial year. Coal India (CIL) accounts for over 80 per cent of the domestic coal output. I am confident...Coal India will achieve the 700 million tonne coal production target this financial year, the chairman was quoted as saying in a statement. Addressing virtually a team of CIL-arm MCL, Agrawal congratulated company officials for registering a growth of 15.9 per cent over the targeted production of coal, which is almost 19 million tonne. Stating that the demand for power will increase in coming days, Agrawal said, There will be increased demand for coal from Coal India, and MCL, which is successfully supplying about 435,000 tonne of coal daily to the power sector, will have to increase its contribution.

CIL's coal quality soars 18%, tech in place to improve the quality further

There has been improvement in conformity to declared grade of coal supply from Coal India Ltd sources, with figure jumping to 69% in 2022-23 as against 51% in 2017-18, the Coal Ministry said

Mukesh Choudhary takes over from Reddy as Coal India's Director, Marketing

State-owned CIL on Monday said Mukesh Choudhary has taken over as its Director, Marketing. He assumed charge on December 23, Coal India Ltd (CIL) said in a statement. Prior to this, he was Deputy Director General, Department of Defence Production, Ministry of Defence. Choudhary took the charge from B Veera Reddy, Director (Technical) CIL who was additionally officiating as Director (Marketing) since May this year. An officer of Indian Ordnance Factory Services (IOFS) 1996 batch, Choudhary is a mechanical engineering (honours) graduate. He also holds a Master of Financial Analysis (MFA) degree and an MBA degree. Choudhary is well versed in the finer nuances of the country's coal demand supply chain and of CIL's marketing system on the back of his six-and-a-half years exposure as director, coal production and despatch, in the coal ministry. His functions at the ministry included monitoring coal supplies, transport logistics and marketing policies. He also served on the boards of

2023 could be another strong yr for coal as demand may reach record levels

Coal India, companies with captive coal mines in steel, power and other sectors will be at an advantage

Coal India's 7 projects to be developed by MDOs for import reduction

State-owned CIL on Wednesday said it has issued orders for seven coal projects to be developed by mine developer and operators (MDOs). The objective of engaging MDOs through open global tenders is to augment domestic coal production and reduce reliance on import to extent possible. "Coal India Limited (CIL) has issued letters of acceptance for seven coal projects to be pursued through engagement of Mine Developer and Operators," the maharatna firm said in a statement. Of these seven projects, three belong to CIL arm Central Coalfields Ltd (CCL) and two to Mahanadi Coalfields Ltd (MCL)--another subsidiary of CIL. South Eastern Coalfields Ltd and Eastern Coalfield Ltd account for a solitary project each. The coal behemoth is tracking a total of 15 new coal projects to mine coal through MDOs. CIL will invest Rs 20,600 crore on land acquisition, rehabilitation and resettlement issues, and in some cases on railway sidings as well. The role of MDOs would be to excavate, extract and del

Higher output could boost Coal India's spot sales, says Pramod Agrawal

"I think in the first half, we have done a little over 30 million tonnes. In the next half, our e-auction sales may go up to 40 million tonnes," Chairman Pramod Agrawal said

Given directions to Coal India to conclude wage pact: Pralhad Joshi

Coal minister Pralhad Joshi has given directions to Coal India to conclude the wage pact of its non-executive workforce at the earliest. The minister has said that all pending issues should be sorted out and emphasised that he would not allow the trade unions to go on strike on the issue. Wages of non-executive workers, who account for over 90 per cent of Coal India's (CIL) workforce, are revised every five years. Workers are seeking a 28 per cent increase in wages, while Coal India has offered a 10.5 per cent raise, according to a union leader. "Normally the agreement takes place between Coal India and labour unions... I have told management (of Coal India) to have a cordial relation with them and have a cordial meeting with them and sort out the issue. I want that whatever the issues are pending should be sorted out," Joshi told PTI. Stating that from the past five-six months the negotiations between Coal India management and trade unions on wage revision are underway, the minis

Coal India's production rises 17% to 412.6 MT in April-Nov period

State-owned CIL on Thursday said it produced 412.6 million tonnes of coal in the April-November period of the current fiscal and expressed confidence that it will surpass the the output target set for the current financial year. The PSU had produced 353.4 MT in the April-November period of the last financial year. Coal India Ltd (CIL) which accounts for over 80 per cent of domestic coal output is eyeing a production of 700 million tonnes (MT) in the current financial year. "This is achievable", said a senior official of CIL. The coal behemoth has to produce 287.4 MT of coal during the remaining four months of the current fiscal to reach its output target for the current fiscal. "With strong augmentation in production so far and overburden removal displaying robust growth that helps in faster extraction of coal in the coming months, we feel confident of surpassing the fiscal's production target. Also, during Q4 production steps up into a higher trajectory," the official added. The

Stocks to Watch: HCL Tech, Lupin, Fusion Micro Fin, Five-Star, NBCC, PNB

Stocks to Watch Today: Newly listed Fusion Micro Finance and Five-Star Business are likely to be in focus on the back of strong Q2 performance reported by the companies.

Coal India to boost production; aims to achieve FY23 output target

State-owned Coal India on Friday said it will further boost production in the coming months and is optimistic that the company will achieve the output target set for the current financial year. Coal India (CIL), which accounts for over 80 per cent of domestic coal production, is eyeing an output of 700 million tonnes (MT) for FY'23. "We began FY'23 requiring 78 MT jump in volume terms to touch the target of 700 MT. As of November 24, the company has already achieved an increase of nearly 58 MTs. "In the ensuing months we aim to sustain the tempo and further scale up the production and feel upbeat about achieving the target," the PSU said in a statement. Following the end of the monsoon season, most of the mines have been dewatered. The festive season is also over. There will be greater availability of machines and manpower leading to better production and productivity in the coming months, the company said. The PSU produced 400 million tonnes (MT) of coal as on November 24 of the

Coal India banks on South Eastern Coalfields for output in Chhattisgarh

CIL has set a target of 700 million tonnes (MT) for FY23

Coal India targets 50 MT sales through e-auction in second half of FY23

Coal India is targeting 50 million tonne sales through the e-auction route in the second half of the current fiscal, a top company official said on Wednesday. The coal behemoth had sold around 30 million tonne via e-auction in the first six months of the 2022-23 financial year. "We are targeting another 50 million tonne in e-auction sales for the year," Coal India Chairman Pramod Agrawal said on the sidelines of Global Mining Summit 2022, organised by CII here. Coal India's e-auction sales were at 108 million tonne in 2021-22. In the July-September quarter of the current fiscal, the miner had sold 10.36 million tonne of coal via e-auction, and the average realisation was Rs 6,061 per tonne. The Maharatna PSU sold 141 million tonne of the dry fuel through the fuel supply agreement in the three months that ended on September 30, 2022 with an average realisation of Rs 1,413 per tonne. During the programme, Agrawal said the Kolkata-headquartered company has been focused on evacuation

Equity MFs book gains in October winners amid Rs 6,300 cr net purchases

Coal India, HCL Tech and L&T were among the most-sold stocks by domestic funds in October even as they rallied between 10% and 16%