Coal India falls for second day; gains over 17% in last three months

Coal India tumbled 4.42% to Rs 178.40, extending decline for second consecutive session.

The stock has corrected by 5.68% in two sessions, from its recent closing high of Rs 189.15 recorded on 8 March 2022.

In the past three months, the stock has added by 17.92% while the benchmark Sensex has lost 4.86% during the same period.

On the technical front, the stock's RSI (relative strength index) stood at _ . The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.

The stock was trading below its 50-day, 100-day and 200-day simple moving average (SMA) placed at 163.70, 161.75, and 157.58, respectively.

On a consolidated basis, the PSU coal major's net profit jumped 47.7% to Rs 4556.54 crore on a 19.7% increase in net sales to Rs 25,990.97 crore in Q3 FY22 over Q3 FY21.

Coal India is a coal mining company engaged in the production and sale of coal. As of 31 December 2021, the Government of India held 66.13% stake while Life Insurance Corporation (LIC) of India held 11.01% stake in the company.

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