Coal news and updates

Coal India Apr-Jun output at 121.23 mt; 12% growth aim

Coal India , the world's largest miner of dry fuel, recorded an output of 121.33 million tonnes (MT) in April-June 2015, recording a 12 percent growth over the same period previous fiscal. The coal giant achieved 99 percent of the target during the period. The development comes at a time when the government has already fixed a target of one billion tonne of production for the miner by 2019. However, the miner missed its June target by about 2 million tonnes, producing 38.83 MT of coal. CIL produced 121.23 MT of coal during April-June quarter of the current fiscal as against a target of 123.04 MT, the miner said in a filing to the BSE. Performance wise, its Jharkhand-based arm Central Coalfields Ltd (CCL) registered the maximum 26.6 percent increase in output of 12.59 MT as against a target of 10.50 MT during the period. The coal giant said the target for June was fixed at 40.73 MT but the miner could produce only 38.83 MT. The offtake of coal at the miner's end stood at 129.48 MT during the April-June period this year against the target of 135.35.65 MT. For June 2015, the offtake of dry fuel was at 42.18 MT against the targetted 43.45 MT. The Centre has announced plans to boost Coal India's annual production to the level of 1 billion tonnes by 2019 to meet growing fuel demand. However, the company has successively missed its output targets. Coal India stock price On July 01, 2015, Coal India closed at Rs 425.10, up Rs 0.00, or 0.00 percent. The 52-week high of the share was Rs 429.00 and the 52-week low was Rs 331.60. The company's trailing 12-month (TTM) EPS was at Rs 21.19 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 20.06. The latest book value of the company is Rs 47.22 per share. At current value, the price-to-book value of the company is 9.00.

source: http://www.moneycontrol.com