Coal news and updates

CIL’s coal allotment via forward e-auction falls 59.37%

July 31: Allotment of coal by Coal India Limited (CIL) subsidiaries via the forward e-auction route in June fell 59.37% to 0.26 million tons (mt) from 0.64 mt in May, according to provisional data available with ICMW.

The premium earned over the notified price, however, increased to 20.55% from 16.01% in May.

The bid price of the allotted quantity in June stood at Rs 50.96 crore while the notified price of the allotted quantity was Rs 50.96 crore.

The bid and notified prices of the allotted quantity in June stood at Rs 186.01 crore and Rs 160.34 crore respectively.

In the first quarter of 2014-15 (April-June), the company had offered a total of 2.46 mt of coal for sale through forward e-auction of which 0.90 mt was allotted at a bid price of Rs 236.96 crore.

In the same quarter of 2013-14, the company had offered a total of 1.30 mt for sale through forward e-auction of which 0.76 mt was allotted at a bid price of Rs 149.95 crore.