Coal India Ltd board approves proposal to enter Solar Power Value chain business

Coal India Ltd (CIL) Board in its Meeting held on date, accorded its 'In-principle' approval to venture value into Aluminium chain (Mining-Refining-smelting) and Solar Power Value chain (Ingot-Wafer-cell-Module and Generation).

It also approved to create SPVs subject to obtaining concurrence from Niti Aayog, DIPAM and after feasibility studies and Business Analysis are completed and financial viability is established for the following:

- Solar Power value chain (Ingot-Wafer-Cell-Module) business vertical at CIL

- New & Renewable Energy (Non-conventional) Business vertical at CIL

- Integrated Aluminium complex: A Greenfield project by central coalfields Limited, a subsidiary of Coal India Limited.

Shares of COAL INDIA LTD. was last trading in BSE at Rs.136.2 as compared to the previous close of Rs. 135. The total number of shares traded during the day was 1105500 in over 6313 trades.

The stock hit an intraday high of Rs. 139.05 and intraday low of 135.15. The net turnover during the day was Rs. 152312024.

Source : Equity Bulls

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