Coal India extends gain post Q4 results; stock hits three-month high

The stock rallied 5% to Rs 303 in intra-day trade on Thursday, extending its Wednesday's 2.3% gain on the BSE

Coal India rallied 5% to Rs 303 in intra-day trade on Thursday, extending its Wednesday’s 2.3% gain on the BSE, after the company reported higher than expected 4.5% year on year growth in consolidated net sales at Rs 251 billion in March 2018 quarter (Q4FY18).

The stock hit a three-month high in early morning deal today, was less than 5% away from its 52-week high of Rs 317 touched on February 27, 2018 in intra-day trade.

Coal India’s consolidated net profit however more than halved to Rs 12.94 billion from Rs 27.20 billion mainly on account of one-offs