News: Coal India’s a wholly owned subsidiary i.e. South Eastern Coalfield Ltd (SECL) has been granted environmental clearance to expand the production capacity of its Gerva Mine to 70 million tonnes (MT) per annum from the current 52.5 MT per annum.
Views: This marks a positive development for Coal India as it enables the company to achieve the production target of 1000 MT by FY26. It anticipates reaching a production volume of 770 MT in FY24, with a target set at 838 MT in FY25. We uphold a positive stance on the stock, driven by the healthy volume led growth in earnings profile amid strong coal demand from the power sector.
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