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Coal India Stock Sees Positive Momentum
Coal India's stock price witnessed a significant increase, surging over 3% to reach a high of Rs 375.75 per share on the National Stock Exchange (NSE) on Friday, February 28, 2025. This positive movement comes amidst a generally weak market trend.
New Charge Drives Stock Price
The primary driver behind this surge is the announcement of a new charge on coal dispatches. Coal India's subsidiary, Northern Coalfields (NCL), will implement a "Singrauli Punarasthapan (Rejuvenation) Charge" of Rs 300 per tonne on coal dispatches across all its mines starting May 1, 2025. This levy will be added to the existing notified price of coal.
Revenue Projection and Company Background
According to regulatory filings, this new charge is projected to generate approximately Rs 3,877.50 crore in additional revenue for Coal India. Coal India, a state-owned Maharatna company, is the world's single largest coal producer. Established in November 1975, the company has grown significantly from its initial production of 79 Million Tonnes. Today, it operates through subsidiaries in 84 mining areas across eight Indian states.
Market Performance and 52-Week Range
Coal India's stock reached its 52-week high of Rs 543.55 per share on August 26, 2024, and its 52-week low of Rs 349.25 per share on February 17, 2025. The stock has experienced a decline of around 4% year-to-date. As of February 28, Coal India boasts a market capitalization of Rs 2,31,071.50 crore on the NSE.
Disclaimer: This article was composed with the assistance of artificial intelligence. While we've taught our digital scribe to behave, we still recommend a pinch of healthy scepticism alongside your reading. Enjoy - and proceed with a knowing smile!.
Stock Market, Mutual Funds, Coal, India, SEBI Regulations
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