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Coal India may consider price hike if unable to contain operational costs

Faced with the burden of an additional cash outflow of atleast Rs. 5,600 every year on account of wage revision, Coal India may eventually hike coal prices to maintain its profit margin. It may happen in case the Maharatna company is not able to curtail its operating costs.Although an immediate price hike isn't under consideration, senior company officials are of the view that first, they need to curtail operating short-term and mid-term costs like closure of loss making mines, offering voluntary retirement scheme to curtail direct employees and opt for mine mechanisation."Eventually, if these doesn't help to maintain margins and in case global coal prices starts going up to touch, say, $ 100 a tonne, we may have to opt for a price correction", a senior company official told Business Standard.After a prolonged sluggish period, coal prices are currently hovering around $ 91 a tonne.Wages and other employee benefit expenses account for 48 per cent of the total cost overhead of the...
19-10-2017
Bigul

RE-Invest 2015 principal sponsors NTPC, Coal India far behind solar-power targets

Private-sector peers not doing too well either; RE-Invest 2017 to be held in Dec
16-10-2017
Bigul

Coal Secy blames power plants for low coal stocks

Asserting that there was no shortage of coal, the coal secretary said that pit head stock of Coal India as on October 10 was at 30.3 million tonnes
16-10-2017
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Govt reviews power purchase bid rules

The committee set up to recommend changes in the bidding guidelines for power projects would now build upon the SHAKTI scheme to help stranded assets get both coal supply and power sale contracts.Close to 16,000 Mw of coal-based power projects in India neither have coal supply or a power purchase agreement (PPA) with any state. Of this, 6,250 Mw is installed and 9,854 Mw was under construction as on August.The committee is chaired by Pratyush Sinha, former central vigilance commissioner. "SHAKTI allows power units to get a medium-term PPA and coal supply for the same period or more, open for extension. The committee is looking to adopt a similar methodology in case-1 bidding of power projects," said an official.Under SHAKTI (Scheme for Harnessing and Allocating Koyla Transparently in India), government-owned Coal India offers assured coal supply to units through bidding. The units have to quote the discount in their power rates that they would offer after getting cheaper coal from...
16-10-2017
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Coal India plans for a liberalised regime

More focus on long-term supply and diversification
14-10-2017
Bigul

Government hikes one-time advance to Coal India employees

The government on Friday announced a higher one-time advance of Rs 51,000 instead of Rs 40,000 payable to each employee of Coal India Limited and its subsidiaries. This amount will be paid to...
14-10-2017
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Change in Directorate

In pursuance of Ministry of Coal letter no- 21/8/2017-BA dated 10.10.2017, Shri Binay Dayal has assumed the charge as Director(Technical), Coal India Limited w.e.f 11th October' 2017.
11-10-2017
Bigul

Shareholding for the Period Ended September 30, 2017

Coal India Ltd has submitted to BSE the Shareholding Pattern for the Period Ended September 30, 2017. For more details, kindly Click here
11-10-2017
Bigul

Compliance Under Regulations 40(9) Of SEBI(LODR) Regulations 2015 From 1St Apr'2017 To 30Th Sep'2017

In terms of Regulations 40(9) of SEBI(LODR) Regulations 2015, we are enclosing a certificate from practicing Company Secretary confirming that the company through its RTA i.e. M/s. Alankit Assignements Ltd. had dispatched all the Share Certificates as entered in the Memorandum of Transfers within 30 days from the date of lodgment of transfer, sub-division, consolidation, renewal, exchange or endorsement of call/allotment from respective date of lodgment...
11-10-2017
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