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Coal India gains on pact to explore opportunities in Rajasthan power demand surge

Coal India's focus will be to explore the possibilities to set up 4,100 MW projects through a JV company, across five identified projects.

March 11, 2024 / 09:47 IST
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In Q3FY24, Coal India reported a 17.8 percent year-on-year rise in consolidated net profit to Rs 9,093.69 crore .

Shares of Coal India opened around 0.3 percent higher on the NSE on March 11 after executing an agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) for exploring opportunities for securing power to meet the growing demand in Rajasthan. At 9:20am, the stock was trading at Rs 459.4.

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According to a regulatory filing on March 10, under this agreement, Coal India's focus will be to explore the possibilities to set up 4,100 MW projects through a JV company, across the five identified projects namely, pit-head thermal power project, solar projects at solar parks, pumped storage projects, solar projects at existing thermal power plants and wind projects.

Also read: Coal India gain on green nod to SECL's Gevra mine capacity expansion