Structural changes in the domestic energy's landscape are likely to keep volume growth muted: CIL reported a 4% YoY increase in coal production to 198 MT in Q1FY27, driven by steady thermal power demand in the quarter. While CIL is targeting 1 billion tonnes of annual coal production through the development of 117 mining projects with a cumulative capacity of 979 MT, backed by a capex of ~1.2 lakh crore. In addition, the company is enhancing its coal evacuation capabilities through first-mile connectivity projects, dedicated railway infrastructure, and greater...