Shares of Coal India Ltd surged 2% to touch a day’s high of Rs 406 on 21st April after its subsidiary South Eastern Coalfields Ltd (SECL) signed a Rs 7,040 crore agreement with TMC Mineral Resources to undertake large-scale coal production in the Korba region of Chhattisgarh using paste filling technology.

Coal India is set to become the first coal PSU in India to use paste-fill technology for underground mining. This modern method avoids land acquisition by filling mined-out areas with a paste made from fly ash, crushed overburden, cement, water, and chemicals.

The Singhali underground coal mine in Chhattisgarh will use this technique, and the project is expected to produce 8.4 million tonnes of coal over 25 years.

In Q3 FY25, the company posted a net profit of Rs 8,491.2 crore, down 17.5% from Rs 10,291.7 crore last year. Revenue fell 1% to Rs 35,779.8 crore, while EBITDA slipped 5% year-over-year to Rs 12,317.2 crore.

Currently, the company’s market capitalisation stands at around Rs 246,817 crore.

At 3:30 PM, the shares of Coal India closed 0.46% higher at Rs 400.70 on NSE.

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