Coal news and updates

Coal India misses May output target by 2%

State-owned Coal India Ltd has missed its output target for May by 1.9 percent at 40.97 million tonne even as it gears up to meet the 1 billion tonne annual production mark, set by the government, in the next five years. Its production target for the month was at 41.78 million tonnes (MT), the PSU said in a regulatory filing, without giving reasons for missing the target. For the first two months of the current fiscal, however, CIL has produced 82.49 MT of coal, as against the target of 82.31 MT, it said. It had registered 10.7 percent growth to 41.52 MT in April, over the same month last year. Coal India had missed its production target for the fiscal 2014-15 by 3 percent, recording an output of 494.23 MT. It had produced 462 MT coal in 2013-14, missing the target of 482 MT. CIL, which accounts for over 80 percent of the dry fuel's domestic production, has been drawing flak for missing production targets. It had earlier said that ramping up output and improving profitability would be its top priorities. The company has admitted that the coal production target of 1 billion tonnes by 2019-20 is a huge challenge. Coal India stock price On June 02, 2015, at 09:20 hrs Coal India was quoting at Rs 391.55, up Rs 0.40, or 0.10 percent. The 52-week high of the share was Rs 423.85 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 18.48. 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 8.29.

source: http://www.moneycontrol.com