Coal India, an Indian state-controlled coal mining company, witnessed a rise in share prices for second day on Thursday after the Supreme Court ruling on coal blocks allocation. The apex court has cancelled 214 coal blocks, which were declared illegal by it in a previous judgement. The SC has exempted 4 coal blocks allocated to SAIL, NTPC and Sasan UMPP from cancellation.

The apex court has given 6-month period to stop the production to existing coal block operators. It has imposed penalty of Rs 295 per tone on production of coal during the six month period.

Shares of Coal India are trading at Rs 356, up Rs 4.65, or 1.32% at the Bombay Stock Exchange (BSE) on Thursday at 10:41 a.m.

The scrip has touched an intra-day high of Rs 362.35 and low of Rs 353.65. The total volume of shares traded at the BSE is 409,357.