Coal India gains 4%, hits over 2-year high on hopes of strong earnings

Shares of Coal India (CIL) hit an over two-year high of Rs 205.55, up 4 per cent on the BSE in Wednesday’s intra-day trade, surging as much as 10 per cent in the past three trading days on expectation of strong earnings.

The stock of state-owned mining company traded at its highest level since January 2020. In past three months, the stock has rallied 25 per cent, as compared to a 5.4 per cent decline in the S&P BSE Sensex.

Amid the spiraling power generation, CIL has raised its supplies to thermal power stations by 14.2 per cent