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Coal India share rises 3% after board approves payment of interim dividend

Coal India share rises 3% after board approves payment of interim dividend

Coal India share opened with a gain of 2.98% at Rs 158.90 against the previous close of Rs 154.30 on BSE.

 Coal India share has risen 12.25% since the beginning of this year and gained 21% in one year. Coal India share has risen 12.25% since the beginning of this year and gained 21% in one year.

Coal India share price rose 3% today after the board of the state-owned miner cleared an interim dividend for FY22. The firm announced a dividend of Rs 9 per share against Rs 7.5 per share announced last year.

Coal India share opened with a gain of 2.98%  at Rs 158.90 against the previous close of Rs 154.30 on BSE. The share trades higher than 200 day moving averages but lower than 5 day, 20 day, 50 day and 100 day moving averages.

Coal India share has risen 12.25% since the beginning of this year and gained 21% in one year. The stock has lost 3.93% in the last 4 days. Total 19.51 lakh shares of the firm changed hands amounting to turnover of Rs 30.13 crore on BSE.

Market cap of the firm stood at Rs 94,414 crore  on BSE. The stock hit 52 week high of Rs 203.85 on October 6, 2021 and 52-week low of Rs 123.45 on April 19, 2021. Later, the stock erased gains to trade 1.36% lower at Rs 152.20 on BSE. It touched an intraday low of Rs 151.55.

The coal mining and refining corporation has fixed December 7, 2021 as the record date for the dividend payment and the date of payment from December 21, 2021.

Earlier, the dispatch of coal to the power sector CIL rose 22.7 per cent to 291.72 million tonne (MT) in the first seven months of the ongoing fiscal year. CIL had dispatched 237.75 MT of coal to the power sector in April-October period of 2020-21, according to monthly summary for the Cabinet for October.

The supply of coal to the power sector by CIL during the last month also increased 21.7 per cent to 47.67 MT, over 39.17 MT in the year-ago period, it said. Coal India accounts for over 80 per cent of the domestic coal output.