Coal India declines on reports of foreign brokerage underperform rating

Coal India lost 3.52% to Rs 315.25 at 12:09 IST on BSE on reports that a foreign brokerage has maintained underperform rating on the stock with a target price of Rs 270.

Meanwhile, the S&P BSE Sensex was down 48.26 points or 0.18% at 27,382.02.

On BSE, so far 7.86 lakh shares were traded in the counter as against average daily volume of 4.41 lakh shares in the past two weeks. The stock hit a high of Rs 327.05 and a low of Rs 314.10 so far during the day. The stock had hit a 52-week high of Rs 349.85 on 17 August 2016. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past one month till 3 November 2016, sliding 0.34% compared with 2.88% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 0.17% as against Sensex's 0.96% fall.

 

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

Coal India's consolidated net profit fell 14.8% to Rs 3065.28 crore on 6.1% decline in net sales to Rs 17796.05 crore in Q1 June 2016 over Q1 June 2015.

State-run Coal India is India's biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 30 September 2016).

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