PSU stock in focus: The increase in the share price comes as one of its subsidiaries has announced additional levy on coal dispatches.
PSU stock in focus: Shares of state-owned Coal India Ltd (CIL) gained over 3 per cent on Friday, the last trading day of the month, even as benchmark indices Sensex and Nifty tanked in early trade, mirroring deep cuts in global markets.
While the 30-share BSE benchmark Sensex tanked 790.87 points to 73,821.56 in early trade. The NSE Nifty slumped 231.15 points to 22,313.90. Despite the broader selling in the equity market, the shares of Maharatna company Coal India gained 3.27 per cent.
The stock opened in green at Rs 368.45 against the previous close of Rs 363.85 on the BSE. It gained further to touch the intraday high of Rs 375.75 apiece – a gain 3.27 per cent. Last seen, the scrip held firmly in green at Rs 373.30.
The increase in the share price comes as one of its subsidiaries has announced additional levy on coal dispatches.
“CIL Board in its meeting held on date had approved… “Singrauli Punarasthapan Charge” of Rs. 300/- per tonne, over and above the notified price of coal shall be levied uniformly across all mines of NCL on and from 1st May’2025,” Coal India said in an exchange filing.
Earlier, the state-owned Coal India Ltd reported a 17.4 per cent decline in consolidated net profit at Rs 8,491.22 crore in the quarter that ended December 2024, mainly due to lower sales.
The company had posted a profit of Rs 10,291.71 crore for the year-ago period, Coal India Ltd (CIL) said in a filing to BSE.
Sales during October-December FY25 dropped to Rs 32,358.98 crore from Rs 33,011.11 crore a year ago, the filing said.
Total expenses of the coal behemoth rose to Rs 26,201.55 crore during the latest third quarter from Rs 25,132.87 crore a year ago.
On a standalone basis, CIL’s profit during the reporting quarter rose to Rs 9,646.26 crore from Rs 9,316.40 crore in the corresponding period of previous fiscal.
