 "Credit Suisse downgrades Coal India to neutral, says 'cheap no longer'")
Credit Suisse downgraded Coal India to "neutral" from "outperform" but raises its target price to Rs 380 from Rs 330.
The investment bank says Coal India "is cheap no longer" while noting "it is difficult to see volumes improving within three to four years."
Still, Credit Suisse says Coal India shares have uspide risk until the government's restructuring plans are unveiled.
Prime Minister Modi is exploring breaking up Coal India and opening up the sector to foreign investment, two sources with knowledge of the matter told Reuters on May 21.
"Till the government's plans for restructuring are known, CIL can become a concept stock with upside risk," Credit Suisse said in a note on Monday. Coal India shares were up 0.59 per cent on the BSE on Monday.
The investment bank says Coal India "is cheap no longer" while noting "it is difficult to see volumes improving within three to four years."
Still, Credit Suisse says Coal India shares have uspide risk until the government's restructuring plans are unveiled.
Prime Minister Modi is exploring breaking up Coal India and opening up the sector to foreign investment, two sources with knowledge of the matter told Reuters on May 21.
"Till the government's plans for restructuring are known, CIL can become a concept stock with upside risk," Credit Suisse said in a note on Monday. Coal India shares were up 0.59 per cent on the BSE on Monday.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%