The price of Coal India share exceeded 3% on Friday after the company’s subsidiary announced additional fees on coal remittance. Coal India shares jumped up to 3.27% 375.75 Apis on BSE.
The rally in Coal India shares despite widespread sales in the equity market. On 28 February, the Indian stock market crashed, with both benchmark indices, Sensex and Nifty 50, declined by more than 1% every 1%.
Sensex broke more than 1,000 points, while the Nifty slipped below the level of 50 22,250, wiping Property of 6 lakh crore investors.
Why is the price of Coal India share rising despite the stock market accident?
The profit in the share price of Coal India was behind an additional levy declared by one of its subsidiaries on coal remittance.
Northern Coalfields, a subsidiary of Coal India, announced the levy of ‘Singrauli Punarasthapan Charge’ 300 per ton, exceeding the notified price, on 1 May, 2025 on its full quantity.
“The CIL Board held the date in its meeting …” Singraoli Punarastharapan Charge “. Coal India said in a regulatory filing on 27 February that 300/- per ton, per ton, a notified price of coal above the notified price of coal will be equally planted in all mines of NCL and 1 May’2025.
Expected additional revenue will be around 3,877.50 crores, it was added.
At 10:50 am, Coal India shares were trading 2.16% more 371.70 episod 2.29 lakh crores.
Disclaimer: The views and recommendations made above are of individual analysts or broking companies, not Mint. We recommend investors to investigate with certified experts before taking any investment decisions.
