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

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

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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.