Coal India has recorded a rise in the coal production of 13.4% year-on-year, at about 53.6 million tonnes, in July 2023.
The Coal India Limited walks on the principle and objective of protecting the nature, through integrated planning and implementation, preventing the pollution, conserving the natural resources and ultimately, promoting the sustainable development, by using safe and eco-friendly measures, for production of coal, effectively and efficiently
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The Progress of Coal Production
The Coal India Limited (CIL), informed that this production was up by 6 million tonnes, comparatively from the output of the last year, July 2022, which stood at 47.3 million tonnes.
The total production of CIL climbed up to 229 million tonnes, till April to July, 2023, which is nearly 10 percent higher in comparison to the production of about 200 million tonnes recorded in the last year, in the months of April to July, 2022.
The report also suggested, CIL had a production of nearly 57 million tonnes in the month of April, 2023, comparatively, to the production of 53 percent last year, in April 2022, which denotes a rise by 7.6 percent.
As for the supply of the coal, a growth of 11 percent, in figures, a rise from about 71 million tonnes, in April 2022, to about 80 million tonnes, in April 2023, was registered under the total coal despatch.
Target of the Coal Production
The coal PSU has set up the target to produce 780 million tonnes, in the Fiscal year, 2024, however, in the year 2023 itself, CIL has produced 700 million tonnes, and it is almost successful in achieving the target, even before the estimated and set time period.
What made this possible?
One of the major reasons is because of the initiative undertaken by the ministry, to multiply and enlarge the connectivity of rail and infrastructure, for all main mining sites, under the PM Gati Shakti master plan.
This has made it possible for a faster extraction, and less time and effort.
The ministry of coal also offered 103 lignite blocks in the 7th round of auction, later to which, 29 agreements have been finalised and signed for the mines, which were auctioned in 6th round.
This been done, has improved the situation of availability of coal, as India had to depend on the coal imports.
These initiatives will be a great aid in savings of foreign exchange, enhancing more of domestic production, lowering the chances for India to rely on coal imports. Additionally, this also radiates a strong support for “Make in India”, a programme of the Government.
Stock Performance of Coal India Limited
After the production growth of 13.4 percent in July, the shares of Coal India Limited, rose by 5 percent in BSE.
The stock has had a consecutive gain for the last 2 days, and has risen by 5.83 percent returns in the period. It touched an intraday high of Rs 241.4 percent, which is approximately 5.26 percent. The Coal India is trading higher than 5-day, 20-day, 50-day, 100-day, and 200-day moving averages. As for the action in the sector, Mining and Minerals has gained by about 3.94 percent. The stock showed a rise in Investor participation, as the delivery volume of 1.32 crore, on July 31, has risen by 139.5 percent against the 5-day average delivery volume.