The three rail infrastructure projects are Tori-Shivpur Kathotia of CCL (Central Coalfields Ltd) in Jharkhand, East West & East Corridor of South Eastern Coalfields Limited (SECL) in Chhattisgarh and Jharsuguda Barpali of Mahanadi Coalfields Ltd (MCL) in Odisha
Two rail projects to facilitate faster movement of coal are expected to be completed in June and another rail link may get ready by 2017, Parliament was informed today.
The three rail infrastructure projects are Tori-Shivpur Kathotia of CCL (Central Coalfields Ltd) in Jharkhand, East West & East Corridor of South Eastern Coalfields Limited (SECL) in Chhattisgarh and Jharsuguda Barpali of Mahanadi Coalfields Ltd (MCL) in Odisha, the minister said.
“The likely completion of these rail projects is June 2016, December 2017 and June 2016, respectively,” Coal and Power Minister Piyush Goyal said in a written reply to the Lok Sabha.
The projects, he said, have been taken up by Coal India (CIL) for capital outlay of Rs 8,579 crore.
“To realise the potential of the major coalfields namely, North Karanpura of CCL in Jharkhand, Mand Raigarh of SECL in Chhattisgarh and Ib-Talcher of MCL in Odisha, three major rail infrastructure projects have been taken up by CIL,” the minister said.
The minister further said the government has approved the proposal regarding disinvestment of 10 percent equity of Coal India out of the government’s shareholding of 78.65 percent through offer for sale (OFS).
“Disinvestment of 10 percent government equity will help in meeting the minimum shareholding norm of 25 percent for listed government companies prescribed by Sebi,” he said.
In a separate reply to the house, Goyal said that as per the information provided by the Coal Ministry, “as on November 30, 2015, an amount of Rs 8,279.19 crore (provisional) is outstanding against state electricity boards and power companies, including independent power producers (IPPs) to be paid to CIL”.
Coal India stock price
On December 10, 2015, Coal India closed at Rs 310.90, up Rs 3.25, or 1.06 percent. The 52-week high of the share was Rs 447.25 and the 52-week low was Rs 300.75.
The company’s trailing 12-month (TTM) EPS was at Rs 19.07 per share as per the quarter ended September 2015. The stock’s price-to-earnings (P/E) ratio was 16.3. The latest book value of the company is Rs 26.49 per share. At current value, the price-to-book value of the company is 11.74.