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New UserCoal India gains on encouraging production, sales in May
03 Jun 2016
Shares of Coal India were up over 3% at Rs 307 on the Bombay Stock Exchange after the company announced encouraging production and sales numbers for May 2016.
Coal production by the company and its subsidiaries was 95% at 42.58 million tonne against a target of 44.64 million tonne, the company said in a release.
Sales for May 2016 was 89% at 45.53 million tonne against a target of 50.90 million tonne, the release added.
For April-May 2016 production was 93% at 82.93 million tonne against a target of 89.12 million tonne while sales were 86% at 88.23 million tonne against a target of 102.36 million tonne.
Further, the recent hike in coal prices by the company also aided sentiment.
The company recently raised prices by 6.29% across all its subsidiaries for both regulated and non-regulated sectors.
The stock opened at Rs 298 and touched a high of Rs 308. At 11:55am, over 5 million shares were traded on both the stock exchanges.
Source: Busienss Standerd