Coal India gains after decent production figures

Coal India rose 1.57% to Rs 327.60 at 15:18 IST on BSE after the company and its subsidiaries achieved 85% of targeted production at 35.24 million tonnes in September 2016.

The announcement was made on Saturday, 1 October 2016.

Meanwhile, the BSE Sensex was up 377.58 points, or 1.35%, to 28,243.54

On BSE, so far 1.69 lakh shares were traded in the counter, compared with average daily volume of 3.95 lakh shares in the past one quarter. The stock hit a high of Rs 328.80 and a low of Rs 322.15 so far during the day. The stock hit a 52-week high of Rs 349.85 on 17 August 2016. The stock hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had underperformed the market over the past 30 days till 30 September 2016, sliding 4.59% compared with 1.96% decline in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 4.01% as against Sensex's 2.66% rise.

The large-cap company has equity capital of Rs 6,316.36 crore. Face value per share is Rs 10.

Coal India and its subsidiaries achieved 88% of targeted offtake at 37.74 million tonnes in September 2016.

Coal India's consolidated net profit fell 14.78% to Rs 3065.28 crore on 6.12% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 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 30 June 2016).

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