Coal India stock rises 2% on rare earth exploration block win; all you need to know
Coal India shares are placed above their 5-, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).
- Sep 17, 2025,
- Updated Sep 17, 2025 11:32 AM IST
Shares of Coal India rose 2 per cent in Wednesday’s trade as the state-run miner said it has been declared the preferred bidder for the Ontillu-Chandragiri Rare Earth Elements (REE) Exploration Block by the Ministry of Mines.
On Wednesday, shares of Coal India rose 1.6 per cent to hit a day’s high of Rs 402.65 on the BSE, compared with the previous close of Rs 396.05. By 10:09 am, the stock pared some gains but was still up 0.85 per cent at Rs 399.40, taking the company’s market capitalisation to Rs 2.46 lakh crore. The counter currently trades nearly 14 per cent above its 52-week low of Rs 349.20.
In a regulatory filing, Coal India Ltd (CIL) said, “Coal India Limited has been declared as Preferred Bidder by Ministry of Mines, Government of India for Ontillu-Chandragiri REE Exploration Block pursuant to NIT dated 30.03.2025 issued by the Ministry of Mines.”
The block, spread across 209.62 sq km, falls under the provisions of the Mines and Minerals (Development and Regulation) Act, 1957. As per the terms, the exploration licence deed is to be executed within one year of the issuance of the Letter of Intent by the state government.
On the technical front, momentum indicators showed a mixed picture. The stock’s 14-day relative strength index (RSI) stood at 63.2, indicating a mid-range position. However, the money flow index (MFI) was at 75.8, suggesting overbought conditions. The counter’s one-year beta at 0.9 also signals lower volatility.
Coal India shares are placed above their 5-, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).
Shares of Coal India rose 2 per cent in Wednesday’s trade as the state-run miner said it has been declared the preferred bidder for the Ontillu-Chandragiri Rare Earth Elements (REE) Exploration Block by the Ministry of Mines.
On Wednesday, shares of Coal India rose 1.6 per cent to hit a day’s high of Rs 402.65 on the BSE, compared with the previous close of Rs 396.05. By 10:09 am, the stock pared some gains but was still up 0.85 per cent at Rs 399.40, taking the company’s market capitalisation to Rs 2.46 lakh crore. The counter currently trades nearly 14 per cent above its 52-week low of Rs 349.20.
In a regulatory filing, Coal India Ltd (CIL) said, “Coal India Limited has been declared as Preferred Bidder by Ministry of Mines, Government of India for Ontillu-Chandragiri REE Exploration Block pursuant to NIT dated 30.03.2025 issued by the Ministry of Mines.”
The block, spread across 209.62 sq km, falls under the provisions of the Mines and Minerals (Development and Regulation) Act, 1957. As per the terms, the exploration licence deed is to be executed within one year of the issuance of the Letter of Intent by the state government.
On the technical front, momentum indicators showed a mixed picture. The stock’s 14-day relative strength index (RSI) stood at 63.2, indicating a mid-range position. However, the money flow index (MFI) was at 75.8, suggesting overbought conditions. The counter’s one-year beta at 0.9 also signals lower volatility.
Coal India shares are placed above their 5-, 10-, 20-, 30-, 50-, 100-, 150- and 200-day simple moving averages (SMAs).