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.
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Coal India stock price
On August 20, 2014, Coal India closed at Rs 366.65, down Rs 2.3, or 0.62 percent. The 52-week high of the share was Rs 423.50 and the 52-week low was Rs 238.35.
The company's trailing 12-month (TTM) EPS was at Rs 20.04 per share as per the quarter ended June 2014. The stock's price-to-earnings (P/E) ratio was 18.3. The latest book value of the company is Rs 26.04 per share. At current value, the price-to-book value of the company is 14.08.
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