No disruption in coal provision to sectors yet: Coal India
NC Jha, chairman of Coal India tells CNBC-TV18 that Bharat Coking has not yet received any notice from the Jharkhand pollution board. "Production continues and there is no diruption in providing coal to various sectors yet," he says.
August 25, 2011 / 01:39 PM IST
The market has been playing a game of its own on maharatna PSU, Coal India. While it remains a preferred stock among investors, worries on production cuts and mine closure notices from pollution board has affected the stock quite badly. The largecap came off very sharply yesterday, losing almost 5% in price and also lost quite a bit of marketcap during the market meltdown, in its war against Reliance to retain its No.1 position.
Coal India currently trades down 2% at Rs 366 on concerns that the Jharkhand pollution board has ordered Bharat Coking Coal Limited to stop mining from 22 mines. NC Jha, chairman of the PSU says that BCCL has not received any notice yet and tells CNBC-TV18 that there will be no halt in production from any of the company's mines at Jharkhand.