scorecardresearchCoal India shares rise nearly 2%; Here's why

Coal India shares rise nearly 2%; Here's why

Updated: 13 Sep 2022, 12:22 PM IST
TL;DR.
Shares of Coal India opened at 233, then gained 1.64 per cent to 235.30 apiece on BSE.
FILE PHOTO: A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas

FILE PHOTO: A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 50,000 level for the first time, in Mumbai, India, January 21, 2021. REUTERS/Francis Mascarenhas

(PTI) Shares of Coal India rose nearly 2 per cent in the morning trade on Tuesday as the government is set to auction 10 coal blocks under commercial coal mining this week.

Shares of Coal India opened at 233, then gained 1.64 per cent to 235.30 apiece on BSE.

On NSE, the scrip opened at 232.70 and climbed nearly 2 per cent to 235.30.

The broader market was trading in the positive territory, with Nifty above the 18,000-level.

The government will auction 10 coal blocks under commercial coal mining this week as part of efforts to ramp up domestic coal output.

Eight mines will be auctioned under the fifth round of commercial coal mining on Tuesday while the remaining two blocks will be put on sale on Wednesday under the second attempt of the fourth round of commercial coal mine auction.

The mines to be put on sale include Sursa, Dahegaon/Makardhokra-IV, Basantpur, Bandha North, MarkiMangli-IV, Jitpur and Rampia. 

First Published: 13 Sep 2022, 12:22 PM IST