Coal India Share Price: PSU stock jumps 3.29% after Rs 24,750 crore investment proposal

Coal India Share Price: Shares of state-run Coal India started the early trading session on Wednesday on a high note, touching the day's high of Rs 281.45 each, a day after the company announced that it had planned a capital investment of around Rs 24,750 crore in the next few years on 61 First Mile Connectivity (FMC) projects.

The shares of the PSU ended the day, flying higher by 3.29 per cent, or Rs 8.90 per cent, at Rs 279.65 apiece at the time of writing this news. 

In a statement on Tuesday, the company said that its projects will have a capacity of 763.5 million tonnes per annum (MTPA) when completed.

"FMC projects involve transportation of coal in mechanised piped conveyors from production point to coal handling plants/silos with rapid loading system where coal is loaded directly into rail wagons," Coal India said in a BSE filing on Tuesday.

Performance of Coal India shares

Coal India shares have been performing well for the last one year. The stock hit a 52-week high of Rs 284.90 on Monday (September 11). Prior to it, the stock had also touched a 52-week high on September 7 and 8.

Its value has risen 8.39 per cent in the last five trading sessions, 19.56 per cent in the last month, 26.54 per cent in the last six months, and 20.56 per cent in the last year.

In comparison to it, the benchmark index Nifty 50 has risen 2.57 per cent in the last five trading sessions, 3.27 per cent in the last one month, 17.76 per cent in the last six months, and 11.48 per cent in the last one year.