Coal India gains after Govt trims stake

Coal India rose 0.97% to Rs 191.95 after the government trimmed stake in the company.

The Government of India (GoI) through Ministry of Coal sold 1.28 crore equity shares, or 0.21% stake, of Coal India. Post sale, the government's stake reduced to 69.05% from 69.26% earlier. The disclosure was made during market hours today, 15 October 2019.

Shares of Coal India gained 4.03% to its current market price of Rs 191.95 in three trading sessions from its previous closing low of Rs 184.50 on 10 October 2019.

Meanwhile, the S&P BSE Sensex was up 347 points or 0.91% to 38,561.13.

On the BSE, 2.32 lakh shares were traded in the counter so far compared with average daily volumes of 3.26 lakh shares in the past two weeks. The stock hit an intraday high of Rs 192.60 and an intraday low of Rs 188.10 so far during the day.

The stock hit a 52-week high of Rs 288.30 on 29 October 2018. The stock hit a 52-week low of Rs 177.80 on 22 August 2019.

Coal India's consolidated net profit soared 22.3% to Rs 4,629.67 crore on 3.6% increase in net sales to Rs 23,223.00 crore in Q1 June 2019 compared with Q1 June 2018.

Coal India is a coal mining company, which is engaged in the production and sale of coal.

Powered by Capital Market - Live News