Coal India falls 12% in September on weak June quarter results

The continuing COVID-19 pandemic has impacted the firm's business adversely

Shares of Coal India (CIL) were trading lower for the third straight day, down 2 per cent on the BSE on Tuesday to hit a 52-week low of Rs 118.85 on concerns that the road ahead might be tough for the state-owned company. The stock has fallen below its previous low of Rs 119.25, touched on March 26, 2020.

Thus far in the month of September, CIL underperformed the market by falling 11.5 per cent, after reporting a sharp 60 per cent year on year (YoY) decline in its consolidated net profit at Rs 2,800 crore in the June