Coal India gains after meeting 94% of production target in May

Coal India rose 0.51% to Rs 373.05 at 14:17 IST on BSE after the company and its subsidiaries achieved 94% of targeted production at 36.27 million tonnes in May 2014.

The company made the announcement during trading hours today, 2 June 2014.

Meanwhile, the BSE Sensex was up 385.20 points, or 1.59%, to 24,602.54.

On BSE, so far 2.27 lakh shares were traded in the counter, compared with an average volume of 4.58 lakh shares in the past one quarter.

The stock hit a high of Rs 376.45 and a low of Rs 367.05 so far during the day. The stock hit a 52-week high of Rs 417 on 26 May 2014. The stock hit a 52-week low of Rs 215.47 on 30 August 2013.

The stock had outperformed the market over the past one month till 30 May 2014, rising 27.24% compared with 8.03% rise in the Sensex. The scrip had also outperformed the market in past one quarter, rising 52.11% as against Sensex's 14.66% rise.

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

Coal India achieved 93% of targeted offtake at 40.71 million tonnes in May 2014.

On a consolidated basis, Coal India's net profit fell 18.10% to Rs 4434.18 crore on 0.5% increase in net sales to Rs 19997.98 crore in Q4 March 2014 over Q4 March 2013.

Coal India is the largest coal producer in the world.

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