CIL's 610.8 MT supply to power sector breaches FY 2024 target

Coal India's (CIL) coal supplies to thermal power plants of the country hit 610.8 million tonnes (MTs) on Wednesday surpassing the annual target of 610 MTs to this sector. This was highest to date and the company achieved the feat four days earlier than the FY 2024 closure.

Compared to 581.5 MTs of last fiscal's same period the increase was 29.3 MTs or 5% higher. Currently CIL's supplies to the coal fired plants are averaging 1.76 MTs per day amidst growing demand from the power sector.

This is the second consecutive year that CIL's coal supplies to power sector exceeded the target. In FY 2023 off-take to power plants was 586.6 MTs against the programmed commitment of 565 MTs.

Bolstered by higher supplies from CIL, coal stock at domestic coal-based power plants shot up to 47.1 MTs (as on 26 March) ahead of onset of the summer. The stock is 13.7 MTs more compared to same period last year. Coal stock at power plants was 33.4 MTs as of same date in FY 2023.

Shares of Coal India Limited was last trading in BSE at Rs. 433.75 as compared to the previous close of Rs. 430.75. The total number of shares traded during the day was 396193 in over 7209 trades.

The stock hit an intraday high of Rs. 438.40 and intraday low of 430.40. The net turnover during the day was Rs. 172217252.00.

Source : Equity Bulls

Keywords

CoalIndia INE522F01014 PowerSector Supply AnnualTarget