Monday, February 28,
Coal India’s Board of Directors has approved a revision in coal prices effective from27th Feb 2011.* This increase is made in basic coal prices to match the international and domestic prices. The current domestic price is said to be 50 % lower than the imported prices. Coal India Ltd (CIL) shares surged today after the announcement of the price hike. Due to the revision of coal prices, CIL would generate approximate additional revenue of Rs 6.5 billion in 2010-11 and Rs62 billion in 2011-12.
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