Coal India Hikes Prices Of Coking, Non-Coking Coal

Coal India Ltd. on Tuesday said that its board had approved a Rs 10 increase in prices of its products.

The company's board at its meeting held on the same day, approved enhancement of notified price of coal by Rs 10 per tonne, as per an exchange filing.

As a result, the prices for non-coking coal will rise from the current Rs 10 per tonne to Rs 20 per tonne. Prices of coking coal will also increase by Rs 10 per tonne, the disclosure added.

The new prices will come into effect from April 16, the filing said, adding that it will apply to both regulated and non-regulated sectors across all of the company's operations.

The public sector undertaking said that the additional revenue that it generates thus, will contribute towards the corpus of the Coal Mines Pension Scheme, 1998.

In a separate filing, the coal mining company also informed that PD Sharma, its executive director of materials and contracts, had "relinquished the charge" with effect from April 1.

Shares of Coal India Ltd. closed 0.09% lower at Rs 398.1 apiece on the BSE, compared to a 1.8% decline in the benchmark Sensex.