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Coal India drops after declaring Q1 result

Capital Market 

Shares of Coal India are trading lower despite the company declaring good quarterly results after market hours yesterday, 13 August 2019.

The stock is currently trading 2.21% lower at Rs 199.25. The stock hit a high of Rs 209.4 and a low of Rs 197.55 so far during the day. Meanwhile, the S&P BSE Sensex was up 98 points or 0.27% to 37056.38.

On the BSE, 3.70 lakh shares were traded in the counter so far, higher tha its average daily volumes of 2.78 lakh shares in the past two weeks. The stock has corrected sharply since hitting a 52-week high of Rs 299.60 on 28 August 2018.

Coal India's consolidated net profit rose 22.27% to Rs 4629.67 crore on 3.64% rise in net sales to Rs 23223 crore in Q1 June 2019 over Q1 June 2018.

Coal India is state-owned single largest coal producer in the world.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, August 14 2019. 10:15 IST