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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Coal India shares in focus after announcing Rs 10 per tonne price hike for coking and non-coking coal
Coal India shares will remain in focus on Wednesday after the state-run company announced a Rs 10 per tonne price hike for both coking and non-coking coal, effective April 16.
The company stated that its board had approved the increase in the «notified price of coal by Rs 10 per tonne, from the current Rs 10 per tonne to Rs 20 per tonne for non-coking coal and Rs 10 per tonne for coking coal, for both regulated and non-regulated sectors across CIL, towards contributing to the corpus of CMPS-1998.» Coal India contributes to over 80% of domestic coal production.
In the meantime, Coal India produced 781.1 million tonnes (MT) of coal in 2024-25, which is nearly 7% less than the target for the fiscal year. The company's coal production target for 2024-25 had been set at 838 MT.
However, Coal India's coal production in FY25 saw a slight growth of 1% compared to the previous year, as stated in a regulatory filing. The company also reported a 3.1% decline in production for March 2025, with output falling to 85.8 million tonnes from 88.6 MT in March 2024.
Also Read: Stocks in news: Tata Consumer, Swiggy, Godavari Power, Tata Motors, Indian Bank
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Coal India shares target price
As per Trendlyne data, the average target price of the stock is Rs 464, which shows an upside of 17% from the current market prices. The consensus recommendation from 25 analysts for the stock is a 'Buy'.
Technically, the stock's relative strength index (RSI) is at 60.5. According to Trendlyne, an RSI below 30 is considered oversold,
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markets
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