Bharat Coking Coal Shares In Focus As Coking Coal Prices Rise Up To 14% From Today, October 14
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Bharat Coking Coal has raised basic prices of select raw coking coal grades for non-regulated sector customers by up to 14%. The revised prices take effect from October 14 and cover steel, direct feed and several washery grades.
State-owned Coal India subsidiary, Bharat Coking Coal (BCCL) shares will be in focus on Wednesday, October 14, after the Coal India subsidiary raised basic prices of select raw coking coal grades by up to 14%, with the revised rates taking effect from today.
The company’s board approved an increase of approximately 0.1% to 14% over existing basic prices for certain grades supplied to customers in the non-regulated sector, according to a stock exchange filing. The revision covers Steel Grades I and II, Direct Feed, PCC Washery Grades W-II to W-VI and HVMC Washery Grades W-I to W-VI.
The company said the price rationalisation was undertaken to correct disproportionate price differences between various grades of raw coking coal. The revision applies only to the non-regulated sector and does not represent a uniform 14% increase across all BCCL coking coal.
Bharat Coking Coal shares closed at ₹31.11 on Tuesday, October 13, up 1.24%, before the board's price revision was disclosed. The stock will therefore be watched at the opening bell on Wednesday as investors react to the higher prices for the first time.
Bharat Coking Coal Raises Prices By Up To 14%
The board approved the price rationalisation at its meeting held on October 13. The meeting began at 5:30 pm and concluded at 8:05 pm, according to the company's exchange disclosure.
The revision covers several raw coking coal grades supplied to the non-regulated sector. Basic prices have been increased by approximately 0.1% to 14% depending on the grade, with the new rates effective from October 14.
The affected categories include Steel Grades I and II and Direct Feed, along with PCC Washery Grades W-II, W-III, W-IV, W-V and W-VI and HVMC Washery Grades W-I to W-VI.
BCCL described the move as a rationalisation aimed at correcting disproportionate inter-grade price differentials rather than an across-the-board increase in coking coal prices.
Bharat Coking Coal Share Price In Focus
Bharat Coking Coal shares ended Tuesday's session at ₹31.11 on the NSE, gaining 1.24% from the previous close of ₹30.73. The stock traded between ₹30.75 and ₹31.25 during the session.
The price revision was approved after the market had closed, leaving Wednesday's trading session as the first opportunity for investors to react to the announcement.
The development could also put the steel sector in focus as the revised prices apply to raw coking coal supplied to non-regulated customers. The actual impact will depend on the coal grades purchased and the extent of the price revision applicable to each grade.
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This article is for informational purposes only and should not be considered investment advice from Kotak Neo. For compliance T&C and disclaimers, Visit www.kotakneo.com/disclaimer
Rochelle Britto has spent 8+ years decoding India's markets, businesses, and consumer economy, reporting for ET Prime and Times Internet along the way, covering the stories behind the numbers.
A Mumbai native and perpetual planner of the next holiday, she stays far, far away from the eternal question, “Where are we going next?” When she's not chasing headlines, she's chasing new cultures, open roads, and a bit of quiet in nature.
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