Active Stocks
Thu Mar 28 2024 15:19:25
  1. Tata Steel share price
  2. 155.75 1.90%
  1. ICICI Bank share price
  2. 1,091.10 0.65%
  1. HDFC Bank share price
  2. 1,446.15 0.38%
  1. ITC share price
  2. 429.05 0.25%
  1. Power Grid Corporation Of India share price
  2. 275.85 1.77%
Business News/ Opinion / Online-views/  Coal prices may be corrected this month
BackBack

Coal prices may be corrected this month

Coal prices may be corrected this month

Premium


New Delhi: Coal prices may be “corrected this month", a senior official in the coal ministry said on Monday, but did not specify if it could mean a downward revision as demanded by power producers.

“There could be a rationalization," said the official, who did not want to be named. “It could be this month itself. The board of Coal India Ltd has to take a decision."

Some analysts said the fact that the ministry is reviewing prices in the wake of protests is a pointer to a cut in prices or some sops for power producers. But there were also sceptics who said a cut in coal prices would be a surprise as prices in the global markets are on an upward trend. “There is an upward pressure coming from unavailability of coal and the fact that the deficit is imported," said Shubhranshu Patnaik, senior director at Deloitte Touche Tohmatsu India Pvt. Ltd. “Coal India’s prices are still 25-30% lower than international prices."

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 23 Jan 2012, 11:06 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App