SOUTH CENTRAL COALFIELDS LTD
South Eastern Coalfields files DRHP with SEBI for IPO; Coal India to offload 66.8 crore shares
Coal India subsidiary South Eastern Coalfields has filed its draft papers with SEBI for an IPO comprising an offer for sale of up to 66.81 crore shares. One of India’s largest coal producers, SECL reported higher revenue and profit and plans to list on the BSE and NSE.
Coal India’s stockpile is shrinking fast as coal dispatches outpace production
Coal India has experienced a 49% cut in coal stocks over the last half-year. This notable decline comes amid a 7.6% surge in offtake, despite a 2.5% dip in production levels. The coal production reached 321 million tonnes, with an impressive dispatch of 384.20 million tonnes. Particularly, the inventory saw a steep 52% decline during the September quarter, reflecting diverse trends among its subsidiaries.
Blackouts hit Indian factories as coal crunch feeds into economy
Indian industries and households are grappling with power shortages due to reduced coal supplies and extreme weather conditions. The weak monsoon has limited hydropower generation while demand for electricity has surged. Many factories, including small steel mills, are facing lengthy outages, impacting production and increasing costs. Consumers in states like Uttar Pradesh are experiencing significant blackouts, prompting investments in backup systems.
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Coal supply rises as rains recede, stocks recover at critical plants
Coal India's average daily coal production, rose by 35% to around 1.83 million tonnes on September 6 against around 1.36 million tonnes during the first three rain-affected days of September. The average daily despatch to the power sector increased by 24% from around 1.37 million tonnes during the first three days of September to 1.7 million tonnes as on September 6.
India steps up coal supplies to power plants amid rising demand and falling stocks
In response to escalating energy demands, the government is augmenting coal supplies from both captive mines and Coal India subsidiaries. This initiative aims to alleviate the concerning depletion of coal stockpiles at several power plants. Coal companies are being prompted to enhance their loading efficiency, while ongoing meetings will streamline coal production and logistics to maintain an uninterrupted supply flow to the power sector.
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Coal India arm Mahanadi Coalfields files IPO papers, plans OFS of up to 66 cr shares
Mahanadi Coalfields has filed its DRHP for an IPO comprising an OFS of up to 66.18 crore shares by promoter Coal India. The proposed listing will give investors direct exposure to one of India’s largest non-coking coal producers, backed by substantial reserves and established mining infrastructure.
Coal India output dips 5.7% in August, offtake rises 5.5%
Coal India's August production saw a 5.7 percent decrease compared to last year. However, the company's coal offtake rose by 5.5 percent during the same period. Cumulative output between April and August also declined by 4.5 percent. Supplies to the power sector grew, and non-power sector supplies increased. The company is preparing to ramp up production as the rainy season ends.
PM Office directs Coal India to list all subsidiaries by 2030
To improve governance and accountability, the Prime Minister's Office (PMO) has directed the coal ministry to map and list all the subsidiaries of state-run CIL by 2030, sources said.
PM Office directs Coal India to list all subsidiaries by 2030
The Prime Minister's Office is pushing for improved governance at Coal India Limited. All subsidiaries of the state-run coal giant will be mapped and listed by 2030. This move aims to enhance transparency and unlock value. Bharat Coking Coal Ltd and Central Mine Planning & Design Institute Ltd are set for stock market listings by March 2026.
CIL approves 32 mining projects involving incremental investment of Rs 47,000 crore
While 24 of the 32 projects are expansion of the existing ones, the remaining are greenfield (new) units, Coal India Ltd (CIL) said in a statement.
Western Coalfields offers to supply coal to power plants of Coal India’s other arms
Many of its customers had shifted to mines that were further away as Western Coalfields’ output fell. However, with output rising again, it has made the offer under its ‘mine specific policy’, which charges a ‘small premium’ while power generators in central, west, or south India can make substantial savings on transport due to proximity to its mines.
Can meet fuel demand of consumers in central, west, and south India: Western Coalfields
According to the statement, landed cost of fuel procured from Western Coalfields is much lower than from other coal companies for consumers located in these regions and Mahagenco, one of its major customers, saved an average Rs 1,200 per tonne on freight in recent years.
Coal India surpasses capex target
Its investment was 4.2% more than in the same quarter last year, despite the lockdown. Subsidiaries South Eastern Coalfields, Northern Coalfields and Central Coalfields accounted for 81% of the capital expenditure for the quarter.
Coal India closes branches offices, shifts subsidiary sales offices from Kolkata to cut costs
Bharat Coking Coal, Central Coalfields, South Eastern Coalfields and Mahanadi Coalfields from Kolkata to their subsidiary headquarters was passed at a recent board meeting.
Coal India to infuse Rs 56,000 crore into 66 projects
The projects are at various stages of implementation and according to a memorandum of understanding signed between Coal India and the ministry of coal over the state-run company’s fiscal 2020 targets, almost 55% of the total capital outlay would be undertaken by South Eastern Coalfields (SECL) which is working on 23 projects.
Coal India cautions against fake employment notice for 88585 posts
Coal India does not have any subsidiary company with the name "South Central Coalfields Ltd (SCCL)" and also it is not participating in any such recruitment exercise, the notice mentioned.
Mahanadi Coalfields suffers loss of ₹60 crore as unions observe strike
Production and sales came to a grinding halt at Mahanadi Coalfields on the first day of the two-day strike which, however, didn’t take a major toll on other Coal India subsidiaries.
Coal India to get 8 new coal blocks with 1.3 billion tonnes reserves
The largest among these proposed blocks is Kuraloi (A) North in Odisha’s Ib Valley with a reserve of 686 million tonnes.
Power companies offer CIL 28% premium for Coal
CIL subsidiary Central Coalfields plans to offer the highest quantity at 2.79 million tonne at the auction, followed by Mahanadi Coalfields at 1.41million tonne.
CIL aims to supply 17.5 mt coal a year to captive power producers
The average base price for the fuel on offer is around ₹1,343 per tonne while premiums offered by consumers for a variety of coal from South Eastern Coalfields have touched a high of ₹650 per tonne.
Several C-Suites to fall vacant at Coal India
The Public Enterprises Selection Board recommends suitable candidates for top jobs in state firms. The body is currently interviewing candidates to fill vacant up posts.
Coal India set to boost supplies by at least 15 million tonnes annually
The additional supply will be enough to fuel almost 4,000 MW of power plants through the year, which will rise as more coal is transported, the executives said.
Coal India set to end fiscal with Rs 6,000-crore bonanza
This is the first time Central Coalfields, South Eastern Coalfields, Western Coalfields, Mahanadi Coalfields and Northern Coalfields will be purchasing their own shares.
Coal India asks subsidiary Central Coalfields Limited to clarify share valuation norm
The evaluation norm used by Central Coalfields is different from the evaluation norm used by other subsidiaries.
5 subsidiaries of Coal India to buyback up to 25 per cent shares
Senior government official said the quantum of buyback will depend on the amount of money that Coal India receives through share buyback by subsidiaries.
Coal India subsidiaries help it post double-digit sales growth at 9.2%
Central Coalfields, South Eastern Coalfields and Mahanadi Coalfields registered 13.3 per cent, 11.9 per cent and 12.6 per cent sales growth.
Coal India’s 2020 target output of 1 billion tonnes hinges on Mahanadi, South Eastern coalfields
Central Coalfields is slated to produce 133 million tonnes, Eastern Coalfields 62 million tonnes.
Coal India achieves production target for first time in several months
Coal India achieved its overall monthly production target in April 2014. This is for the first time in several months that the coal major has been able to meet its production target.
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