New Delhi, March 12 -- Coal India Ltd's shares hit a new 52-week high of Rs.467.90 on the NSE on Thursday, gaining over 4% when the Nifty 50 index declined 0.5%, possibly on expectations of higher prices at its e-auctions as global coal prices rise due to the West Asia conflict.

The flare-up in oil and gas prices is spilling over to the international coal market, too. Higher global coal prices would hurt domestic import volumes and push CIL's e-auction premiums and offtake higher.

The state-owned company sells some of its output through e-auctions at market-determined prices, in addition to fuel supply agreements (FSA) with power producers. CIL's e-auction premiums had risen to over three times the FSA price in the September 2022 quarte...