Coal India, which is already more than 40 million tonnes short of its sales goal in the first eight months of this financial year, is likely to miss the year´s target by a large margin unless power demand picks up drastically, analysts indicated. The mining company´s performance last year was lifted as demand for coal from the power sector increased by about 90 million tonnes. A similar boost has been missing this year. Coal India´s sales in the eight months ending November were 340.3 million tonnes, trailing the target of 381.6 million tonnes. Production was 323.6 million tonnes compared with a target of 360.8 million tonnes, the state-owned company said in a statement dated December 1.
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