Coal India Ltd has warned production of the fuel may fall, risking new threats to the nation’s energy supply, if the company isn’t able to raise prices.
- Raymond Jumps 4% on Ex-BEL Chief’s Defence Appointment
- Supriya Lifescience Falls 12% on NDPS Act Proceedings
- Radico Hits Record High as Magic Moments Sales Soar 43%
- GK Energy Rallies on Rs 235.92 Crore Solar Pump Order
- Cupid Hits Fresh 52-Week High on Rs 128 Crore Block Deal
The world’s largest coal producer is facing cost pressures from a looming rise in salaries and on higher prices of diesel used to power mine equipment. Some of the company’s units are finding it “difficult to survive without a price hike,” Chairman Pramod Agrawal said on a call with analysts.
Raising coal prices included in long-term supply agreements would require backing of the government, which weighs the impact of higher rates on the country’s inflation and broader economy.
Live
