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Coal India shares gain 3 pc as output grows in August

The stock rose 2.95 per cent to Rs 137.45 on the BSE. On the NSE, it went advanced 3 per cent to Rs 137.50.

Abhishek Lohia
  • Sep 3 2020 12:10AM
Shares of Coal India on Wednesday gained 3 per cent after the company registered a 7.1 per cent growth in coal output in August compared to the year-ago period.

The stock rose 2.95 per cent to Rs 137.45 on the BSE.

On the NSE, it went advanced 3 per cent to Rs 137.50.

Coal India on Tuesday said it has registered a 7.1 per cent growth in coal output at 37.17 million tonnes (MT) in August compared to the year-ago period.

The company said that coal off-take increased 9.3 per cent last month compared to the same period a year ago.

For the first time in the ongoing fiscal, Coal India has recorded growth in both production and off-take.

Coal production rose by 2.47 MT to 37.17 MT in August. The growth was 7.1 per cent compared to the year-ago period, it said.

"The growth slowdown is contained and going forward in the ensuing months of the fiscal, we endeavour to maintain our production and off-take tempo," a senior company official said.

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