Coal India gains after announcing production data for June

Coal India rose 1.1% to Rs 313.50 at 09:51 IST on BSE after the company on provisional basis achieved 99% of targeted production at 42.72 million tonnes in June 2016.

The company announced the monthly coal production and offtake performance market hours on Friday, 1 July 2016.

Meanwhile, the S&P BSE Sensex was up 173.55 points or 0.64% at 27,319.70

On BSE, so far 38,000 shares were traded in the counter as against average daily volume of 5.12 lakh shares in the past one quarter. The stock hit high of Rs 313.80 and low of Rs 310.90 so far during the day. The stock had hit a record high of Rs 447.25 on 5 August 2015. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past 30 days till 1 July 2016, rising 1.21% compared with 1.12% rise in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 7.75% as against Sensex's 7.42% rise.

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

Coal India and its subsidiaries on a provisional basis achieved 99% of targeted production at 42.72 million tonnes in June 2016. With respect to coal offtake, 95% of target was achieved for the month. The total offtake stood at 44.96 million tonnes in June 2016.

Coal India's consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.7% decline in total income to Rs 22904.36 crore in Q4 March 2016 over Q4 March 2015.

State-run Coal India is India's biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).

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