Coal India Ltd (CIL) has logged 77 percent growth in e-auction sales in April-November of the current fiscal, booking 68.3 million tonnes (MTs). The upsurge in the booked or allocated quantity of coal was close to 30 MTs in absolute terms, compared to 38.6 MTs booked during the same period a year ago, a company official said.
Exclusive auction for non-power consumers booked 17.4 MTs which is 25.5 percent of the total allocated quantity during the period. Compared to 4.8 MTs booked by non-power consumers during April-November last year, the growth is 262 percent. E-auction sales for November 2020 witnessed improved volume bookings at 9.4 MTs, clocking 23.7 percent growth over last November, helping CIL net a 30 percent premium over the notified prices.
The company earned a 13 percent premium through auctions in October 2020 when CIL.
‘Special spot auction for coal importers’ also gained positive response with 3.3 MTs booked in November’20 with a premium of 21 percent. The quantity is twice that of 1.6 MTs booked in October, the first occasion CIL introduced this window when the premium fetched over notified price was 14 percent.
“For now the focus remains on volume expansion in e-auction sales rather than add-ons over the reserve price. Going forward add-ons will be pliable based on subsidiary wise and grade wise demand,” the official said.