Coal India is currently trading at Rs. 291.25, down by 6.80 points or 2.28% from its previous closing of Rs. 298.05 on the BSE.
The scrip opened at Rs. 294.70 and has touched a high and low of Rs. 294.70 and Rs. 290.55 respectively. So far 4,23,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 349.85 on 17-Aug-2016 and a 52 week low of Rs. 272.05 on 12-Apr-2016.
Last one week high and low of the scrip stood at Rs. 298.95 and Rs. 288.25 respectively. The current market cap of the company is Rs. 1,80,790.00 crore.
The promoters holding in the company stood at 79.78%, while Institutions and Non-Institutions held 17.76% and 2.47% respectively.
The fair trade regulator Competition Commission of India (CCI) has levied a penalty of Rs 591.01 crore on public sector undertaking Coal India (CIL). The Commission has imposed a penalty on CIL of 1 per cent of the average turnover of the last three years.
The CCI has found CIL and its subsidiaries to be in contravention of the provisions of Section 4(2)(a)(i) of the Competition Act, 2002, for imposing unfair/ discriminatory conditions in Fuel Supply Agreements (FSAs) with the power producers for supply of non-coking coal.
Due to the statutory monopoly enjoyed by CIL and its subsidiaries, the buyers are heavily dependent upon the coal companies and insertion of such clause gives CIL through its subsidiaries an overpowering advantage in the relevant market, which is patently unfair.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.