Coal India shares hit all-time high on D-Street-Here is why
Coal production news: State-run mining giant Coal India Ltd (CIL) shares on Monday, June 3 jumped over seven per cent to clock an all-time high of Rs 527.2 on BSE in morning deals.
Coal India share price today BSE, Coal production news: State-run mining giant Coal India Ltd (CIL) shares on Monday, June 3 jumped over seven per cent to clock an all-time high of Rs 527.2 on BSE in morning deals amid broad-based buying in D-Street after exit polls predicted a massive win for the BJP-led NDA in the Lok Sabha polls. The counter closed at Rs 512.05, up 4.23 per cent on BSE.
The positive trend in the counter followed after Coal India registered a 7.5 per cent growth in coal production, with offtake growing 7.2 percent in May.
According to CIL's regulatory filing dated June 1, coal production reached 64.5 million tonnes (MT), compared to 59.9 MT last year. Coal offtake rose to 68.2 MT from 63.7 MT in the May period.
In addition, the company also informed the exchanges that Sanjay Khare, Executive Director (L&R) has stepped down on reaching his retirement age, with effect from on May 31.
How did Coal India fare in Q4?
Coal India reported a consolidated net profit of Rs 8,682.2 crore for the January-March period, up 26.3 per cent on a year-on-year basis and better than analysts' expectations. Higher supplies of coal boosted the company's profitability in the fourth and final quarter of the financial year 2023-24.
CIL registered quarterly revenue of Rs 37,410.4 crore, marking a decline of 1.9 per cent, according to a regulatory filing. Read more CIL Q4 results
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