County Coal Financial News

Benchmark NSE Nifty closed 95.0 points up at 19889.7 amid buying in frontline bluechip counters. However, stocks such as Bohra Industries, Karda Const, SS Infrastructure, Penta Gold and Bannari Amman, touched their fresh 52-week lows.

Coal India and NHIDCL. Also, SJVNL’s machine for the vertical rescue tunnel construction has started its work and has already drilled over 30.8 metres or just over a third of the distance to reach the trapped workers.

Coal India Ltd’s (CIL) shares hit a 52-week high of Rs359 apiece in mid-November but are now hovering 7% below that level. Still, there is optimism on earnings outlook on the back of volume growth and better e-auction realisations. The coal producer has a production and sales offtake target of 780 million tonnes (mt) each for FY24.

₹54.5 lakh crore, implying 16.6% holdings of overall Indian equities as of November 2023 which is the lowest since 2012, as per ICICI Securities. FPIs have sold Indian equities worth more than ₹40,000 crore since September this year.

Life Insurance Corporation of India (LIC) has trimmed its stake in Engineers India, a leading global engineering consultancy and EPC company, by about 2% through open market. The insurance behemoth disclosed in a regulatory filing on November 23 that it sold 1.14 crore shares of Engineers India during the period from February 02, 2021, to November 22, 2023, at an average price of ₹118.08 apiece. As a result of this transaction, LIC's overall stake in Engineers India has come down to 3.122% from the previous 5.155%.

Coal India, Honasa Consumer ltd, Eicher Motors Ltd, NTPC Ltd, HDFC Bank Ltd and ICICI Prudential Life Insurance Company Ltd to its India model portfolio deploying cash and at the cost of Power Grid Corporation of India Ltd, Marico Industries, Maruti Suzuki India Ltd and NBFCs (Non Banking Financial Companies). In an Equity strategy note Equity analysts-Mahesh Nandukar, Abhinav Sinha, and Equity associate-Nishant Poddar a Jefferies India Pvt Ltd said that they had raised cash tactically in their model portfolio in early September, which they said are now deploying as the key macro concerns around higher US yields, rising oil prices and near-term state election results have subsided.

Gurmeet Chadha, CIO & Managing Partner, Complete Circle Consultants, says “we are playing power through power generation which is Tata Power, also had some exposure to CG Power. Then we are playing it through the transmission space which is Power Grid, among others. Some of the stocks are fairly valued, including Coal India and NTPC. So that is one way. Then we have the renewable sources to play, which is Praj Industries and that is more on bio-fuel. The third way is through the financiers and just see the move in REC and PFC, the way they have run up. That has been the most long, secular play.” What all do you own in power because from legacy companies, wires and cables, transmission towers, financiers, there is a big bouquet out there in power? Absolutely. And as we were discussing in the morning we are playing it through power generation which is Tata Power, also had some exposure to CG Power. Then we are playing it through the transmission space which is Power Grid and there is a proxy play to power through a company which is basically a defence company into explosives, got the largest order from Coal India for Rs 3000 crore – Solar Industries. The stock has run up quite a lot. 40% of the revenue comes from Coal India, which again is mainly on power generation.

The committee also had representatives from Singareni Collieries Company Ltd, West Bengal Power Development Corporation Ltd, Bharat Earth Movers Ltd, Caterpillar India Pvt Ltd, Tata Hitachi, Gainwell India and industry associations, according to a government release. The committee has suggested the standardisation of equipment in line with Coal India's existing equipment standardisation effort, the government said. It has also said that tender clauses should promote the use of indigenous equipment.

Coal India is likely to e-auction approximately 60 million tonnes of coal in the second half of the current fiscal year, according to estimates indicated by the management. This represents a significant increase from the 32 million tonnes sold in the first two quarters of the year, officials said. Coal India informed analysts that it aims to sell 15% of its production in the second half of the current fiscal (September 2023-March 2024) through e-auctions, which currently command a premium of around 90% over the Fuel Supply Agreement (FSA) price. «We are expecting 15% of production to be e-auctioned in the second half,» Coal India chairman PM Prasad said.

Parag Milk(up 3.87%), Dangee Dums(up 3.38%), Varun Beverages(up 2.25%), Sheetal Cool Products(up 1.94%), Euro India Fresh Foods(up 1.80%), Prataap Snacks(up 1.61%), Patanjali Foods(up 1.16%), Nakoda Group(up 1.01%), Zydus Wellness(up 0.91%) and Colgate Palmolive(India)(up 0.90%) stood among the top gainers. Jyothy Labs(down 1.87%), JHS Svendgaard Laboratories(down 1.85%), Dodla Dairy(down 1.77%), Gillette India(down 0.77%), ADF Foods(down 0.65%), Marico(down 0.34%), Umang Dairies(down 0.21%), Tasty Bite Eatables(down 0.18%), Dabur India(down 0.12%) and Hindustan Unilever(down 0.08%) were among the top losers of the day.

Ashapura Minechem(up 5.00%), 20 Microns(up 4.90%), Madhav Marbles and Granites(up 3.94%), Oriental Trimex(up 2.78%), Sandur Manganese & Iron Ores(up 2.60%), Aro Granite Industries(up 0.73%), Coal India(up 0.69%), NMDC Ltd(up 0.52%) and Lexus Granito(up 0.37%) stood among the top gainers. Gujarat Mineral Dvpt Corporation(down 2.80%), Pokarna(down 2.62%), Orissa Minerals Development Company(down 0.82%), KIOCL(down 0.47%) and MOIL(down 0.31%) were among the top losers of the day.

AVADHSUGAR(up 12.99%), MAGADHSUGAR(up 11.91%), DCM Shriram Industries(up 9.99%), Dalmia Bharat Sugar & Industries(up 9.66%), EID Parry(up 8.37%), Uttam Sugar Mills(up 8.20%), Simbhaoli Sugars(up 5.76%), Dhampur Sugar Mills(up 5.02%), Shree Renuka Sugars(up 4.85%) and Triveni Engineering & Industries(up 4.31%) stood among the top gainers. Kothari Sugars & Chemicals(down 0.09%) were among the top losers of the day.

Coal India Ltd (CIL) during a diversification review meeting with the coal secretary, the state-owned entity has identified 20 abandoned mines to undertake a feasibility study for pump storage projects. State-run NLC India Ltd also proposes to undertake feasibility study for pump storage plants for some of abandoned mines with it.

Agro Phos(up 6.46%), Chambal Fertilisers & Chemicals(up 0.53%), ZUARIAGRO(up 0.42%), Sikko Industries(up 0.39%), Coromandel International(up 0.36%) and Deepak Fertilizers & Petrochemicals(up 0.07%) stood among the top gainers. Bohra Industries(down 4.99%), Gujarat Narmada Valley Fertilizers (down 2.26%), Aries Agro(down 1.66%), Madras Fertlizers(down 1.48%), Rashtriya Chemicals & Fertilizers(down 1.41%), Mangalore Chemicals & Fertilizers(down 1.25%), Madhya Bharat Agro Products(down 0.92%), Fertilizers & Chemicals Tranvancore(down 0.87%), National Fertilizer(down 0.87%) and Rama Phosphates(down 0.71%) were among the top losers of the day.

Gujarat Mineral Dvpt Corporation(up 8.10%), Madhav Marbles and Granites(up 3.05%), Orissa Minerals Development Company(up 2.98%), Ashapura Minechem(up 2.18%), NMDC Ltd(up 1.06%), KIOCL(up 1.03%), 20 Microns(up 0.92%) and Pokarna(up 0.62%) stood among the top gainers. Lexus Granito(down 3.80%), MOIL(down 3.25%), Oriental Trimex(down 2.04%), Sandur Manganese & Iron Ores(down 2.00%), Aro Granite Industries(down 1.03%) and Coal India(down 0.61%) were among the top losers of the day.

Coal India share price has surged significantly in the calendar year 2023 yet experts and brokerage firms anticipate further double-digit gains, indicating that the stock's momentum is expected to continue. As of the November 21 close, Coal India share price has jumped 48.4 per cent this year, strongly outperforming the equity benchmark Sensex which has gained just 8.4 per cent in the same period.

Jefferies has upgraded Coal India (CIL) to buy following an investors call by the company on Tuesday. The US-based brokerage's optimism stems from the company's focus on volume growth, transformation in its coal evacuation infrastructure and employee reduction cost among other things. The stock was trading at Rs 333.50 on the NSE on Wednesday around 10:40 am, down by Rs 0.70 or 0.21% from the Tuesday closing price. Jefferies said in a note that Coal India's volume growth trajectory has improved and will likely sustain amid India's strong economic growth outlook and rising power consumption.

Inox wind(up 6.16%), Karma Energy(up 4.96%), CESC(up 3.08%), Inox Wind Energy(up 2.50%), JSW Energy(up 2.11%), NLC India(up 1.75%), Gujarat Industries Power(up 1.47%), Transformers and Rectifiers(India)(up 1.39%), KPI Green Energy(up 1.30%) and KEC International(up 1.28%) were among the top gainers. Orient Green Power Company(down 5.01%), Suzlon Energy(down 4.96%), RTNPOWER(down 4.66%), Jaiprakash Power Ventures(down 2.94%), GE Power India Limited(down 2.84%), DPSC(down 2.35%), Reliance Power(down 1.64%), Kalpataru Projects International(down 1.49%), Torrent Power(down 1.15%) and Voltamp Transformers(down 1.03%) were among the top losers.

Coal India and NHIDCL. Jain said that with fragile geology in the region, vertical drilling would be done extensively if other options failed.

Kothari Sugars & Chemicals(up 2.60%), MAGADHSUGAR(up 1.39%), AVADHSUGAR(up 0.94%), Triveni Engineering & Industries(up 0.89%), Balrampur Chini Mills(up 0.72%), Dhampur Sugar Mills(up 0.69%) and Ponni Sugars(Erode)(up 0.09%) stood among the top gainers. Ugar Sugar Works(down 2.51%), DCM Shriram Industries(down 2.44%), K.M.Sugar Mills(down 1.52%), BAJAJHIND(down 1.52%), Rana Sugars(down 1.44%), Simbhaoli Sugars(down 1.34%), Shree Renuka Sugars(down 0.70%), EID Parry(down 0.47%), Dwarikesh Sugar Industries(down 0.39%) and Uttam Sugar Mills(down 0.26%) were among the top losers of the day.

Adani Wilmar(up 2.93%), JHS Svendgaard Laboratories(up 2.89%), Sheetal Cool Products(up 2.11%), Zydus Wellness(up 1.75%), Vadilal Industries(up 1.42%), Prataap Snacks(up 1.29%), Gillette India(up 0.95%), Bajaj Consumer(up 0.79%), Emami(up 0.45%) and Godrej Consumer Products(up 0.31%) stood among the top gainers. P & G Hygiene(down 1.84%), Mrs Bectors Food Specialities(down 1.61%), Dodla Dairy(down 1.60%), Patanjali Foods(down 1.57%), Nakoda Group(down 1.24%), Dangee Dums(down 1.21%), Varun Beverages(down 0.91%), Heritage Foods(down 0.50%), Umang Dairies(down 0.49%) and Dabur India(down 0.43%) were among the top losers of the day.