Coal India extends slide on reports of Govt's impending stake-sale

Coal India was down 1.53% to Rs 333.60 at 13:13 IST on BSE, with the stock extending recent slide triggered by media reports that the government's proposed 5-10% stake-sale in the company is likely to happen in Q4 March 2017.

Meanwhile, the S&P BSE Sensex was down 64.71 points or 0.23% at 28,058.73.

On BSE, so far 11.84 lakh shares were traded in the counter as against average daily volume of 3.87 lakh shares in the past one quarter. The stock hit a high of Rs 341.15 and a low of Rs 332.25 so far during the day. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had hit a 52-week high of Rs 367.75 on 31 August 2015. The stock had outperformed the market over the past one month till 18 August 2016, gaining 5.36% compared with 1.36% rise in the Sensex. The scrip had also outperformed the market in past one quarter, advancing 19.25% as against Sensex's 9.41% rise.

The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.

Shares of Coal India have fallen 4.08% in two trading sessions from its close of Rs 347.80 on 17 August 2016 triggered by reports of Government of India's (GoI) impending stake-sale in the company. GoI currently holds 79.65% in Coal India as on 30 June 2016.

Coal India's consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.1% decline in net sales to Rs 20759.45 crore in Q4 March 2016 over Q4 March 2015.

State-run Coal India is India's biggest coal miner.

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