Coal India Soars 5% on Foreign Buyer E-Auction Access, Nears 52-Week High

• Coal India Ltd. shares surged 5% on Friday, January 2, nearing its 52-week high.
• The company now allows foreign buyers from Bangladesh, Bhutan, and Nepal to directly participate in its SWMA e-auctions.
• This move aims to promote transparency, competition, and global market integration, according to a Coal India official.
• Foreign buyers benefit from one-time registration, digital bidding, and advance electronic payments, with specific currency options.
• Despite a recent 4% rise in December production, current FY production is 2.2% lower YoY, reaching 529 MT.

Why It Matters: Coal India's stock jumped due to opening e-auctions to foreign buyers, boosting market expansion.