Shares of Coal India settle marginally down

Otherwise, more will end up like Murti Devi. The 32-year-old single mother of four lost the job she had all her life when the mine she worked for closed four years ago. Nothing came of the resettlement plans promised by the coal company so she, like so many others, turned to scavenging coal. On good days, she’ll make a dollar. On other days, she relies on neighbors for help. “If there is coal, then we live. If there isn’t any coal, then we don’t live,” she said. (Image: AP)

Shares of Coal India pared initial gains and settled for the day in the negative territory on the bourses on Tuesday, as the government is set to auction 10 coal blocks under commercial coal mining this week.

Shares of Coal India opened at Rs 233, witnessed an intra-day high of Rs 235.30 and a low of Rs 230.85 during the trading session. The stock finally ended the day at Rs 231.30, down 0.09 per cent from its previous closing price. At the end of Tuesday's trading session, the market capitalisation of Coal India stood at Rs 1,42,543.91 crore.

On NSE, the scrip opened at Rs 232.70 and finally ended the day at Rs 231.30, down 0.09 per cent from its last close. The 30-share Sensex rose 455.95 points or 0.76 per cent to close at 60,571.08 points. The broader Nifty climbed 133.70 points or 0.75 per cent to settle at 18,070.05 points. The 30-share Sensex rose 455.95 points or 0.76 per cent to close at 60,571.08 points.

The government will auction 10 coal blocks under commercial coal mining this week as part of efforts to ramp up domestic coal output. Eight mines will be auctioned under the fifth round of commercial coal mining on Tuesday, while the remaining two blocks will be put on sale on Wednesday under the second attempt of the fourth round of commercial coal mine auction.

The mines to be put on sale include Sursa, Dahegaon/Makardhokra-IV, Basantpur, Bandha North, MarkiMangli-IV, Jitpur and Rampia.