Coal India slips after declaring production and offtake performance for January

Coal India lost 1.08% to Rs 325.05 at 10:35 IST on BSE, after the company and its subsidiaries on provisional basis achieved 94% of targeted production at 52.86 million tonnes in January 2016.

The announcement was made after market hours yesterday, 1 February 2016.

Meanwhile, the S&P BSE Sensex was up 52.09 points or 0.21% at 24,876.92

On BSE, so far 54,591 shares were traded in the counter as against average daily volume of 2.26 lakh shares in the past one quarter. The stock hit a high of Rs 332.40 and a low of Rs 323.40 so far during the day. The stock had hit a 52-week low of Rs 286.90 on 21 January 2016. The stock had hit a record high of Rs 447.25 on 5 August 2015. The stock had outperformed the market over the past one month till 1 February 2016, sliding 1.59% compared with 5.11% decline in the Sensex. The scrip had also outperformed the market in past one quarter, rising 2.72% as against Sensex's 6.87% fall.

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

Coal India and its subsidiaries on provisional basis achieved 94% of targeted production at 52.86 million tonnes in January 2016. Coal India and its subsidiaries on provisional basis achieved 95% of targeted offtake at 48.32 million tonnes in January 2016.

Coal India's consolidated net profit rose 16% to Rs 2543.80 crore on 8.2% rise in net sales to Rs 16957.59 crore in Q2 September 2015 over Q2 September 2014.

Coal India is an organized state-owned coal mining corporate. The Government of India held 79.65% stake in Coal India (as per the shareholding pattern as on 31 December 2015).

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