The share price of state-owned Coal India jumped over 2 percent intraday on February 3 after it reported a 10.3 percent increase in production at 63.11 mt against 57.21 mt (YoY). January coal offtake grew 6.9 percent at 56 mt against 52.44 mt (YoY).
The stock, which has declined 29 percent in the past nine months, was quoting at Rs 178.05, up Rs 4.35, or 2.50 percent. It has touched an intraday high of Rs 178.95 and an intraday low of Rs 172.40.
S&P BSE Metal index gained close to a percent. Top gainers were NMDC and Coal India, both adding between 2-3 percent. Jindal Steel & Power, JSW Steel, MOIL, Tata Steel and Vedanta are the other gainers.
The company appointed Anil Kumar Jha as the chairman-cum managing director effective January 31, 2020.
"We are trying our best to reach close to 660 million tonne, but given the circumstances, we don't think we will able to cross 640 million tonne," Jha said. Production loss in five months during the monsoon season dragged down the miner's production.
Coal India was targetting February and March to achieve the highest production, he said.
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