Coal India rises 6% on increase in non-coking coal prices

Shares of Coal India gained by 6% at Rs. 303.

The company increased prices of thermal coal by an average 9%.

The Board of Directors of Coal India Ltd in its meeting held on date has approved revision of Non-Coking coal prices. This will be applicable to all subsidiaries of Coal India Ltd including NEC for regulated and non-regulated sectors.

Due to this revision, CIL will earn an incremental revenue of INR 1956 crores for the balance period of financial year 2017-18. projected annual incremental revenue would be INR 6421 crores.

Yash Ved
Yash Ved is a Senior Correspondent at NewsBarons and comes with a decade of experience across leading online and offline publications. A keen observer of the stock index movement, Yash also likes covering Real Estate and the BFSI sector. A financial management and Journalism student, Yash believes learning as a continuous journey and enjoys following the IT and the Pharmaceutical industry and has penned many articles on the subjects.