Coal India gains on bargain hunting

Coal India rose 1.98% to Rs 342.95 at 12:03 IST on BSE on bargain hunting after declining 11.5% in preceding five trading sessions.

Meanwhile, the S&P BSE Sensex was down 409.16 points or 1.59% at 25,332.40

On BSE, so far 7.42 lakh shares were traded in the counter as against average daily volume of 4.07 lakh shares in the past one quarter.

The stock hit a high of Rs 350.35 and low of Rs 338.25 so far during the day. The stock had scaled a record high of Rs 447.25 on 5 August 2015. The stock had hit a 52-week low of Rs 331.60 on 13 October 2014.

The stock had underperformed the market over the past one month till 24 August 2015, sliding 21.04% compared with 8.43% fall in the Sensex. The stock also underperformed the market in past one quarter, declining 10.25% as against Sensex's 7.93% decline.

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

Shares of Coal India had declined 11.5% in preceding five trading sessions to settle at Rs 336.30 on 24 August 2015 from a recent high of Rs 380 on 17 August 2015.

Coal India's consolidated net profit fell 6.7% to Rs 3764.35 crore on 4.8% growth in total income to Rs 20965.20 crore in Q1 June 2015 over Q1 June 2014.

Coal India is an organized state owned coal mining corporate.

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