Coal India gains after strong Q1 result

Coal India rose 1.54% to Rs 280.25 at 09:27 IST on BSE after consolidated net profit surged 61.07% to Rs 3786.44 crore on 25.05% rise in total income to Rs 25470.86 crore in Q1 June 2018 over Q1 June 2017.

The announcement was made on Saturday, 11 August 2018.

Meanwhile, the S&P BSE Sensex was down 279.30 points, or 0.74% to 37,589.93

On the BSE, 87,000 shares were traded in the counter so far, compared with average daily volumes of 4.81 lakh shares in the past two weeks. The stock had hit a high of Rs 281 and a low of Rs 276.45 so far during the day. The stock had hit a 52-week high of Rs 316.55 on 27 February 2018. The stock had hit a record low of Rs 234 on 11 August 2017.

The large-cap company has equity capital of Rs 6207.41 crore. Face value per share is Rs 10.

On a consolidated basis, Coal India's production of raw coal rose to 136.85 million tonne in Q1 June 2018 from 118.84 million tonne in Q1 June 2017. Offtake rose to 153.47 million tonne from 137.42 million tonne.

Coal India is an organized state owned coal mining corporate and is the single largest coal producer in the world.

The government of India holds 78.32% stake in the company as on 30 June 2018.

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