Coal India chairman and managing director Zohra Chatterji told CNBC-TV18 that the FSA document was being vetted and would be signed as soon as possible
A day after the government issued a Presidential directive to coerce Coal India to sign FSAs with power producers, the Coal India management on Wednesday said that the necessary documents had been discussed by the board and that the agreements would be signed shortly.
“The FSA document has been discussed in the board meeting. It is under legal vetting. It will be placed before the board again and then it will be signed as soon as possible, ” said Coal India chairman and managing director Zohra Chatterji to CNBC-TV18.
Coal India has sought the opinion of the Department of Public Enterprises (DPE) before it acts on the Presidential directive. The DPE is expected to send in its comments later on Wednesday evening.
Top on the agenda at the Coal India board meeting is the discussion on penalty, the clause of force majeure and the ‘deemed delivery’ clauses.
Also watch the accompanying video.
Coal India stock price
On July 03, 2015, Coal India closed at Rs 417.15, down Rs 6.9, or 1.63 percent. The 52-week high of the share was Rs 429.00 and the 52-week low was Rs 331.60.
The company's trailing 12-month (TTM) EPS was at Rs 21.19 per share as per the quarter ended March 2015. The stock's price-to-earnings (P/E) ratio was 19.69. The latest book value of the company is Rs 47.22 per share. At current value, the price-to-book value of the company is 8.83.
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