Coal news and updates

CIL’s e-auction allotment value up 14.4% till Nov

Riding on a 68.2% increase in the allotment of coal through the e-auction platform, Coal India Ltd (CIL) has achieved a 14.4% jump in the total allotment value of coal during April-November, 2015 over the same period last year.

According to data available with ICMW, the total booking price of the allocated quantity during the first eight months (April-November) of 2015-16 stood at Rs 6,763.43 crore, against Rs 5,911.11 crore achieved during the same period last year.

The 14.4% increase in the allotment value, however, was less than a 42.2% rise in the total notified price of the allotted quantity which increased to Rs 4,901.86 crore during April-November, 2015-16, against Rs 3,446.11 crore reported for the corresponding period of last fiscal.

This was reflective of the drop in total realisation (premium) above the notified price this year. Total realisations from allotment through e-auctions fell to 37.98% above the notified price during the first eight months of 2015-16 as compared to a high of 71.53% during the corresponding period of 2014-15, the data shows.

According to industry sources, the increased offering and allotment resulted in lower realisation of premium this year.

Source: ICMW