Coal India liquidates 14.5 million tonnes of coal from its stocks
During April-July 2011 Coal India Limited (CIL), the world’s largest coal miner, liquidated a record 14.50 million tonnes (MTs) of coal from its stocks.
By Debjoy Sengupta, ET Bureau |
KOLKATA: During April-July 2011 Coal India Limited (CIL), the world’s largest coal miner, liquidated a record 14.50 million tonnes (MTs) of coal from its stocks.
During July 2011, the company managed to reduce its stock through off-take to the tune of 4.62 mt. Against a coal production of 31.18 mt in July 2011 CIL’s off-take was 35.80 mt. Incidentally, CIL had declared the fiscal 2011-12 the “Year of Off-take” in an effort to increase its coal supplies and reduce the pithead stocks.
CIL began the financial year with pithead coal stock of 69.17 mt, which stood at 54.66 mt as on 31 July 2011. In absolute terms the stock liquidation is 7.39 mt more than same period previous fiscal.
Coal off-take during April-July 2011 was 141.99 mt against a production of 127.49 mt. It means CIL supplied 14.50 mt of coal more than what was produced during the said period. This entire additional supply came from its pithead stocks.
Coal Production during April – July 2011 was 127.49 mt marginally above the previous corresponding period at 125.74 mt. Growth in absolute terms was 1.75 mt (1.4%)
The company in a release also said that Coal India is slated to join select band of the Indian corporate when the company would be included in the India’s most widely tracked bellwether Index, the 30-stock “SENSEX” on 8 August 2011, globally considered to be the barometer of the Indian economy.
“Inclusion in the Bombay Stock Exchange SENSEX marks a defining moment in the history of the company and opens a new dimension to the company’s prospects. Coal India was listed in the stock exchanges on 4 November 2010. CIL’s IPO was the largest so far in the Indian capital market and was over-subscribed 15.3 times.
CIL was the Most Valued Company in terms of Market Capitalization as of 17 May 2011, among the Indian PSUs and a coveted second among all the Indian companies.
During July 2011, the company managed to reduce its stock through off-take to the tune of 4.62 mt. Against a coal production of 31.18 mt in July 2011 CIL’s off-take was 35.80 mt. Incidentally, CIL had declared the fiscal 2011-12 the “Year of Off-take” in an effort to increase its coal supplies and reduce the pithead stocks.
CIL began the financial year with pithead coal stock of 69.17 mt, which stood at 54.66 mt as on 31 July 2011. In absolute terms the stock liquidation is 7.39 mt more than same period previous fiscal.
Coal off-take during April-July 2011 was 141.99 mt against a production of 127.49 mt. It means CIL supplied 14.50 mt of coal more than what was produced during the said period. This entire additional supply came from its pithead stocks.
Coal Production during April – July 2011 was 127.49 mt marginally above the previous corresponding period at 125.74 mt. Growth in absolute terms was 1.75 mt (1.4%)
The company in a release also said that Coal India is slated to join select band of the Indian corporate when the company would be included in the India’s most widely tracked bellwether Index, the 30-stock “SENSEX” on 8 August 2011, globally considered to be the barometer of the Indian economy.
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“Inclusion in the Bombay Stock Exchange SENSEX marks a defining moment in the history of the company and opens a new dimension to the company’s prospects. Coal India was listed in the stock exchanges on 4 November 2010. CIL’s IPO was the largest so far in the Indian capital market and was over-subscribed 15.3 times.
CIL was the Most Valued Company in terms of Market Capitalization as of 17 May 2011, among the Indian PSUs and a coveted second among all the Indian companies.
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