BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Centrum Broking Report
Amid ongoing temporary deficit of coal in India, Coal India Ltd. has been advised to prioritise coal supply to the power sector and not conduct any further e-auction of coal to the non-power sectors till the situation normalises. It can conduct special forward e-auction for the power sector.
At FY21-end, Coal India had ~100 million tonne (78 million tonne at March 2020-end) of coal inventory as power producers refrained from taking adequate coal, keeping their inventory at low levels in anticipation of lower power demand amid increasing Covid-19 cases.
This led Coal India to produce less in Q1 FY22 (up 2.5% YoY on a low base), liquidating its inventories.
With rising demand, the company started producing more from July, but was hit by heavy rains in September, which affected production and offtake.
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