Coal India and GMDC trade mixed bag after coal minister Joshi reveals govt plan for coal gasification
Coal Minister Pralhad Joshi told Zee Business that the demand for electricity would double by 2030 in India. The minister said that to meet the demand for the increased consumption, the government was planning to bring private players in coal gasification.
After Coal Minister Pralhad Joshi, in exclusive conversation with Zee Business, said that the demand for electricity in India would double by 2030, the stocks of power companies such as Coal India and Gujarat Mineral Development Corporation (GMDC) were trading mixed bag on Thursday (January 11, 2024).
Joshi told Zee Business that the demand for electricity in India would double by 2030.
The minister said that to meet the demand for the increased electricity consumption, the government was planning to bring private players in coal gasification.
In the same direction, the government will auction 30 more critical mineral mines by March, the minister told Zee Business.
Let's see how power stocks are faring after the minister's statement.
Coal India
The stock of the coal firm was trading higher by 0.76 per cent, or Rs 2.90, at Rs 384.85 at 11:58 am on Thursday. The stock closed at Rs 381.95 on Wednesday before opening at Rs 386.00. It hit the day's high of Rs 386 soon after that.
GMDC
The stock of the Gujarat Mineral Development Corporation (GMDC) was trading lower by 2.21 per cent, or Rs 10.60, at Rs 469.90 in the morning trading session on Thursday.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
12:14 PM IST