Coal India's shares surged nearly 1 per cent on Thursday following the company's announcement of signing a Joint Venture Agreement (JVA) with BHEL. The agreement aims to venture into the Coal to Chemicals business, starting with the establishment of a 2000 TPD Ammonium Nitrate Plant using BHEL’s in-house developed Pressurized Fluidized Bed Gasification (PFBG) technology.