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  1. Indian Railways hikes freight rate, coal stocks on fire

Indian Railways hikes freight rate, coal stocks on fire

The railway ministry on Tuesday revised the freight rate table for coal traffic per tonne. The ministry has decided to levy the coal terminal surcharge (CTS) at the rate of R55 for the distance beyond 100 km at both loading and unloading terminals.

By: | Mumbai | Published: August 24, 2016 6:12 AM

The railway ministry on Tuesday revised the freight rate table for coal traffic per tonne. The ministry has decided to levy the coal terminal surcharge (CTS) at the rate of R55 for the distance beyond 100 km at both loading and unloading terminals. An increase in freight by 7% to 14% was fixed on distance between 200 and 400 km, however, there has been a decrease in freight by 4% to 13% for the distance of more than 700 km.

Shares of coal companies gained between 0.3% and 5%. Kabra Commercials saw the highest gain with its shares gaining 4.96% to close at R13.12. The stock of state-run Coal

India gained a marginal 0.43% to close at R336.60 followed

by Gujarat Mineral Development Corporation whose stock was up 0.17% to close at R90.15.

Shares of Shree Cement were down by around 3% to close at R16,650, making it the worst performer among major cement companies. Shares of other major cement companies like Ultratech Cement, Ambuja, ACC and Ramco Cements lost between 0.2% and 1%. Steel companies too ended the Tuesday trading session in red with shares of major companies like JSW Steel, Tata Steel and Steel Authority of India (SAIL) losing between 0.5% and 0.7%.

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