Coal India shares to be in focus as production rises over 2% in Apr-Nov

Shares of state-owned CIL or Coal India will be in focus as the company has said that its coal production rose by 2.4 per cent to 471 million tonnes (MT) in the April-November period of the current financial year.

Coal India Ltd (CIL) produced 460 MT of coal in the year-ago period.

CIL accounts for over 80 per cent of the domestic coal production.

The company's production also rose by 1.7 per cent to 67.2 MT in November against 66 MT in the corresponding month a year ago, CIL said in a regulatory filing to BSE.

Coal offtake by CIL, which is the amount of dry fuel supplied from coal pitheads, rose by 1.5 per cent to 492.6 MT in the April-November period of the current fiscal, compared to 485.2 MT in the year-ago period.

The company's coal offtake in November was almost flat at 63 MT, over 62.9 MT in the corresponding month of the previous fiscal, the filing said.

Coal India Ltd said it produced 773.6 million tonnes of coal in 2023-24 but fell short of its production target of 780 MT for the fiscal. Its production was 703.2 MT in the preceding 2022-23 fiscal.