Coal India gains seven per cent
Share price of Coal India rose 7.7 percent during the day as the company has revised its non-coking coal prices.
The company is it meeting held on January 8 has approved revision of non-coking coal prices effective from January 9.
The revised prices would be applicable to all subsidiaries of Coal India including NEC (North Eastern Coalfields).
Due to the revision, the company will earn an approximately incremental revenue of Rs 1,965 crore for the balance period of financial year 2017-18.
The projected annual incremental revenue would be Rs 6,421 crore.
The share ended with a gain of 5.63 percent at Rs 304.05 on Tuesday.
The share touched its 52-week high Rs 332.10 and 52-week low Rs 234.00 on 27 February, 2017 and 11 August, 2017, respectively.