MARKETS

BSE Prices delayed by 5 minutes... Prices as on Jul 16, 2018   ABB India 1198.3 [ -1.89% ]ACC 1268.9 [ -5.02% ]Ambuja Cements Ltd. 190.55 [ -3.35% ]Asian Paints Ltd. 1358.6 [ -0.72% ]Axis Bank Ltd. 523.1 [ -0.15% ]Bajaj Auto Ltd. 3101.75 [ -1.03% ]Bank of Baroda 113.55 [ -3.16% ]Bharti Airtel 346.2 [ -3.31% ]Bharat Heavy Ele 64.8 [ -3.50% ]Bharat Petroleum 381.95 [ -1.29% ]Britannia Ind. 6536.05 [ 0.98% ]Cairn India Ltd. 285.4 [ 0.90% ]Cipla 621.4 [ -0.81% ]Coal India 261.55 [ -2.32% ]Colgate Palm. 1141.85 [ -1.57% ]Dabur India 367.9 [ -2.15% ]DLF Ltd. 178.15 [ -5.16% ]Dr. Reddy's Labs 2089.15 [ -9.85% ]GAIL (India) Ltd. 356.75 [ -0.07% ]Grasim Inds. 928.8 [ -0.74% ]HCL Technologies 974.1 [ -1.09% ]HDFC 1991.55 [ 0.95% ]HDFC Bank 2169.35 [ -0.52% ]Hero MotoCorp 3423.85 [ -1.06% ]Hindustan Unilever L 1753.85 [ 0.73% ]Hindalco Indus. 211.9 [ -3.18% ]ICICI Bank 259.3 [ -3.26% ]IDFC L 43 [ -4.44% ]Indian Hotels Co 125.05 [ -0.79% ]IndusInd Bank 1923.3 [ -0.01% ]Infosys 1333.05 [ 1.83% ]ITC Ltd. 271.5 [ 0.41% ]Jindal St & Pwr 196.05 [ -4.95% ]Kotak Mahindra Bank 1408.35 [ 0.25% ]L&T 1282.6 [ -0.89% ]Lupin Ltd. 818.45 [ -5.40% ]Mahi. & Mahi 900.4 [ -0.88% ]Maruti Suzuki India 9377.9 [ -0.60% ]MTNL 14.9 [ -4.79% ]Nestle India 10210.55 [ 0.59% ]NIIT Ltd. 94.45 [ -3.08% ]NMDC Ltd. 96.5 [ -3.26% ]NTPC 155.7 [ 1.96% ]ONGC 153.9 [ -0.45% ]Punj. NationlBak 73.85 [ 0.27% ]Power Grid Corpo 181.35 [ -0.17% ]Reliance Inds. 1076.15 [ -1.88% ]SBI 251.75 [ -2.27% ]Vedanta 205.8 [ -2.28% ]Shipping Corpn. 60.55 [ -3.12% ]Sun Pharma. 532.95 [ -4.69% ]Tata Chemicals 668.9 [ -5.25% ]Tata Global Beverage 243 [ -6.12% ]Tata Motors Ltd. 251.55 [ -4.77% ]Tata Steel 519.3 [ -6.96% ]Tata Power Co. 68.75 [ -1.79% ]Tata Consultancy 1988.8 [ 0.38% ]Tech Mahindra Ltd. 655.8 [ 2.36% ]UltraTech Cement 3866.35 [ -2.39% ]United Spirits 574.4 [ -5.52% ]Wipro Ltd 283.1 [ 0.86% ]Zee Entertainment En 508.4 [ -0.05% ]

News Details

You can view in detail.
Coal India hikes prices, power producers see rise in tariffs 09/01/2018 16:30

Coal India hiked thermal coal prices for both power and non-power consumers with immediate effect, a decision which electricity producers said would jack up energy prices by up to Rs 0.50 per unit, reported PTI.

Sources indicated that the average price hike could be around 10 per cent but the Indian Captive Power Producers Association claimed that the hike is in the range of 15-20 per cent for G-11 and G-14 grade fuel which would make power costlier by Rs 0.30-0.50 per unit.

The board of Coal India Ltd in its meeting approved revision of non-coking coal prices with effect from January 9, 2018, Coal India (CIL) said in a filing to BSE, without disclosing the quantum of increase.

The price revision will result in an incremental revenue of Rs 1,956 crore for the remaining period of 2017-18 fiscal while total revenue will be Rs 6,421 crore, Coal India said.

The price hike will be applicable to "all subsidiaries of Coal India, including NEC for regulated and non-regulated sectors", the filing said.

Power producers, however, said the price hike will increase electricity tariffs.

"This increase for G-11 and G-14 grade (coal) is in the range of 15-20 per cent... It is expected that the coal price increase would result in 30-50 paise/per unit rise in power tariff," Indian Captive Power Producers Association (ICPPA) Secretary Rajiv Agrawal told PTI.

This increase, he said, is over and above 12-18 per cent indirect price increase by introduction of evacuation charge (Rs 50 per tonne), sizing charge and surface transportation charge.

"For global competitiveness, energy prices has to come down whereas the nation is being burdened by ineffectiveness of Coal India, its manpower, cost structure and losses," he explained.

According to Association of Power Producers, thermal coal price rise would amount to power tariff hike of 25 to 30 paise per unit.

"The arbitrary price increases of CIL are burdening the common power consumers.

As this increase along with earlier imposition of evacuation charge and increase in surface transportation charge would add about 35 paise in retail (power) tariff," Association of Power Producers Director General Ashok Khurana said.

According to PwC's Kameswara Rao, the higher coal costs will incentivise larger, more efficient plants close to the mines.

Utilities will have take a call on older, inefficient plants, he added.

"Resource companies are raising prices to absorb their own cost increases. The impact is 6-10 p/kWh today but could be lesser as mechanisation grows in future," Rao said.

CIL had last revised price for the fossil fuel in May last year by 6.3 per cent on an average that helped the miner to collect additional revenue of Rs 3,234 crore in 2016-17.

Coal India slapped a levy of Rs 50 per tonne as coal evacuation charges in early December.

Meanwhile, Coal India also said sales bills will be raised on GCV (kcal/Kg) basis with effect from April 1, 2018 and the present mode of raising bill would continue till then.

Coal India was the biggest gainer among Sensex stocks, rising by 5.63 per cent to close at Rs 303.05 on BSE. Trading volume in the scrip also soared today with over 2.90 crore shares being traded on both NSE and BSE stock exchanges.

LOAD MORE