Coal India's stock surges over 5%, hits fresh 52-week high, emerging as Nifty 50's top gainer. Read More
Improved earnings and high dividend expectations boost investor confidence, propelling Coal India's resurgence.
In H1 FY24, Coal India achieved an 11.3% YoY production increase, with total supplies up 8.6% YoY, backed by the rising demand in the power sector.
Higher production allows Coal India to cater to non-power sectors, fetching premium prices for its produce.
Strong demand drives e-auction premiums up by 106% in September '23, a result of global coal price hikes and increased industrial activity.
Rising international coal prices, fuelled by gas supply concerns, high Chinese imports, reduced Russian coal supplies, and increased crude prices.