Coal India’s (CIL) board of directors has approved a price hike of 8% on highergrade
coal (G2-G10) w.e.f. 31st May’23, translating into a benefit of Rs27.03bn for
the remaining part of FY24.Management has indicated incremental revenue of
Rs27.03bn for the balance period of FY24.
This may offset the expenses of wage hikes to some extent.
Though coal prices have already moderated, the hike may help to generate marginally higher revenues in next few quarters.
Disc : Holding from low levels of Feb – June 2022 as a Dividend Stock to support dividend yield at the portfolio level.
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