Coal India shares close with over 2 pc gains

Shares of Coal India on Wednesday closed with over 2 per cent gains after the company registered a 7.1 per cent growth in coal output in August compared to the year-ago period. The growth was 7.1 per cent compared to the year-ago period, it said.

Shares of Coal India on Wednesday closed with over 2 per cent gains after the company registered a 7.1 per cent growth in coal output in August compared to the year-ago period. The stock closed at Rs 136.30, a gain of 2.10 per cent on the BSE. During the day, it rose 2.95 per cent to Rs 137.45.

On the NSE, it advanced 2.13 per cent to close at Rs 136.30. Coal India on Tuesday said it has registered a 7.1 per cent growth in coal output at 37.17 million tonne (MT) in August compared to the year-ago period.

The company said 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 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.