Following the closing of the stock market, Coal India (NSE: COALINDIA) has provided big information in its exchange filing.
The company announced that it had formed a joint venture together with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) to set up a 2×800 MW brownfield thermal power plant.
The company stated in its announcement of the exchange that under this contract, Coal India will have 74 percent and RRVUNL 26 percent of the stake.
The first paid-up share in JVC will be worth Rs. 10,00,000. CIL and RRVUNL will each be able to nominate two and four executives to be directors for the JVC.
Coal India’s profit in the first quarter of FY 2025 has increased by 4.1 percent year-on-year to Rs 10,959 crore.
Stock Performance
On Monday, Coal India’s stock closed at Rs 500.75 on BSE with a gain of 1.93 percent.
The stock of the company has seen an increase of 73.78 percent over the past one year. The 52-week high for the stock is Rs 544.70.
Quick Fact
| Company name | Coal India |
|---|---|
| Joint venture | Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) |
| Project | 2×800 MW brownfield thermal power plant |
| Coal India stake | 74% |
| RRVUNL stake | 26% |
| JVC paid-up share | ₹10,00,000 |
| Number of CIL directors | 2 |
| Number of RRVUNL directors | 4 |
| Profit increase Q1 FY2025 | 4.1% YoY |
| Profit Q1 FY2025 | ₹10,959 crore |
| Stock gain | 73.78% over the past year |
| Stock closing price | ₹500.75 |
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