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Coal production in India registered a growth of 12.73% in the current financial year till October 21, 2023 as against same period during last year. The country's largest coal producing company Coal India recorded a production growth of 11.80%, Singareni Collieries Company (SCCL) witnessed a growth of 8.45% and captive & commercial mines reported 20.50% growth.
As on October 21, 2023, total coal stock is 71.35 million tonne (MT) (including coal at mine pithead, transit and thermal power plants) as against total stock of 60.44 MT during the corresponding period of last year, which is 18.05% higher. Besides, the import of coal was 13.5 MT as against 20.8 MT during corresponding period of last year showing a decrease of 35% in coal for blending purposes.
After long rain spell during early October in coal producing states, production has picked up during last 10 days. Total production from all sources during the last 10 days is over 26.57 lakh tonnes per day, exceptionally higher. The production and transportation are lower in H1 since first half of year is predominantly summer followed by monsoon. Therefore, stock at pithead and at thermal power plants records depletion in H1 and second half of the year witness the accretion, as after the monsoon, production conditions are favourable. During H2 the supply is higher than the consumption, therefore, during the second half of the year, there is build up in the coal stock at power plants and at mines pithead. Despite extreme high demand of power, Ministry of Coal has maintained adequate availability of coal at all thermal power plants in the country.
Ministry of Coal has also worked out strategy for ensuring normal production of coal during festival season by way of offering higher wages to the contractual workers during the season. Ministry of Coal has planned to ensure 40 MT of closing stock at pithead plants of thermal power and more than 75 MT at mine end as on March 31, 2024.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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