Coal India drops on weak Q1 results

Coal India dropped 0.44% to Rs 237.60 at 9:30 IST on BSE after consolidated net profit fell 23.3% to Rs 2351.13 crore on 3.6% rise in net sales to Rs 18404.32 crore in Q1 June 2017 over Q1 June 2016.

The announcement was made after market hours on Monday, 14 August 2017. The market remained closed on 15 August 2017 due to Independence Day.

Meanwhile, the S&P BSE Sensex was up 86.74 points or 0.28% at 31,535.77.

On the BSE, 36,362 shares were traded on the counter so far as against the average daily volumes of 3.55 lakh shares in the past one quarter. The stock had hit a high of Rs 239.85 and a low of Rs 236 so far during the day. The stock had hit a 52-week high of Rs 349.85 on 17 August 2016. The stock had hit a record low of Rs 234 on 11 August 2017.

The stock had underperformed the market over the past one month till 14 August 2017, falling 4.75% compared with the Sensex's 1.79% decline. The stock had also underperformed the market over the past one quarter, declining 13.6% as against the Sensex's 4.18% rise. The scrip had also underperformed the market over the past one year, dropping 29.38% as against the Sensex's 11.71% rise.

The large-cap company has equity capital of Rs 6207.41 crore. Face value per share is Rs 10.

Coal India is an organized state owned coal mining corporate. The government of India held 78.86% stake in the company as per shareholding pattern as on 30 June 2017.

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