Coal India share price gains over 3% despite stock market crash. Here’s why | Stock Market News
Source: Live Mint
Coal India share price rallied over 3% on Friday after the company’s subsidiary announced to impose additional charges on coal dispatches. Coal India shares jumped as much as 3.27% to ₹375.75 apiece on the BSE.
The rally in Coal India shares comes despite the broader selling in the equity market. On February 28, the Indian stock market crashed, with both the benchmark indices, Sensex and Nifty 50, declining more than 1% each.
The Sensex cracked more than 1,000 points, while the Nifty 50 slipped below the 22,250 level, wiping off over ₹6 lakh crore of investors’ wealth.
Why is Coal India share price rising despite stock market crash?
Gains in Coal India stock price was on the back of an additional levy announced by one of its subsidiaries on coal dispatches.
Coal India’s subsidiary, Northern Coalfields, announced the levy of ‘Singrauli Punarasthapan charge’ of ₹300 per tonne, over and above the notified price, on its entire volume from May 1, 2025.
“CIL Board in its meeting held on date had approved… “Singrauli Punarasthapan Charge” of Rs. 300/- per tonne, over and above the notified price of coal shall be levied uniformly across all mines of NCL on and from 1st May’2025,” Coal India said in a regulatory filing on February 27.
The expected additional revenue will be around ₹3,877.50 crore, it added.
At 10:50 AM, Coal India shares were trading 2.16% higher at ₹371.70 apiece on the BSE, commanding a market capitalisation of over ₹2.29 lakh crore.
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