Coal India scales record high

Coal India rose 1% to Rs 425.25 at 09:44 IST on BSE, with the stock extending yesterday's gains triggered by a foreign brokerage reportedly maintaining its 'overweight' outlook on the stock.

Meanwhile, the S&P BSE Sensex was up 105.88 points or 0.38% at 27,886.71

On BSE, so far 6.21 lakh shares were traded in the counter as against average daily volume of 4.04 lakh shares in the past one quarter.

The stock hit a record high of Rs 427.40 in intraday trade today, 1 July 2015. The stock hit an intraday low of Rs 422 so far during the day. The stock had hit a 52-week low of Rs 331.60 on 13 October 2014.

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

Shares of Coal India had gained 3.11% to Rs 421.05 yesterday, 30 June 2015 after a foreign brokerage reportedly said that the company looks much better positioned for growth with low volatility compared to its rivals in Asia. The brokerage was reportedly convinced about Coal India's volume growth and pricing power and expects 31% compounded annual growth rate (CAGR) in earnings before interest, depreciation, taxation and amortization (EBITDA) over FY 2015-18. The stock gained 4.13% in two trading days from recent low of Rs 408.35 on 29 June 2015.

Coal India's consolidated net profit fell 4.4% to Rs 4238.55 crore on 3.9% growth in net sales to Rs 20774.22 crore in Q4 March 2015 over Q4 March 2014.

Coal India is an organized state owned coal mining corporate.

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