Markets

Twin worries for Coal India

| Updated on November 15, 2017


The stock of Coal India could come under some pressure this week as it will have to decide on new pricing mechanism and on wage revision. The Coal India board is likely to meet on Monday to examine the new coal pricing mechanism. The company shifted to a new pricing mechanism from January 1. Under this system, prices have been linked to the actual calorific value or quality of coal that has resulted in an increase in rates of the fossil fuel.

Coal India also has to decide on wage hike after fresh demands from labour unions. The date of the next meeting will be decided once the next Chairman and Managing Director assumes office on February 1. Though there was a “broad consensus” to limit the wage hike at 25 per cent during its last meeting at Nagpur on January 12, workers' unions on Friday came up with fresh demands to the extent of 10 per cent. This included a hike in house rent in mining areas.

Published on January 29, 2012

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