Coal India shrugs off weak Q2 results

Coal India rose 1.93% to Rs 351.35 at 10:05 IST on BSE after company's consolidated net profit fell 28.17% to Rs 2192.38 crore on 0.6% growth in total income to Rs 17700.12 crore in Q2 September 2014 over Q2 September 2013.

The Q2 result was announced on Saturday, 8 November 2014.

Meanwhile, the S&P BSE Sensex was up 37.58 points or 0.13% at 27,906.21.

On BSE, so far 1.03 lakh shares were traded in the counter as against average daily volume of 2.71 lakh shares in the past one quarter.

The stock hit a high of Rs 353.05 and a low of Rs 340 so far during the day. The stock had hit a record high of Rs 423.85 on 11 June 2014. The stock had hit a 52-week low of Rs 240.50 on 26 February 2014.

The stock had underperformed the market over the past one month till 7 November 2014, advancing 1.26% compared with the Sensex's 6.08% rise. The scrip had also underperformed the market in past one quarter, falling 4.94% as against Sensex's 8.91% rise.

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

Government of India holds 89.65% stake in the company as at 30 September 2014.

Coal India (CIL) is an organized state owned coal mining corporate.

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