Coal India surged 4.94% to Rs 407.55 at 12:13 IST on BSE after a foreign brokerage reportedly upgraded the stock to overweight and raised its target price on improving outlook for realisations, improving volumes and healthy dividend yield.
Meanwhile, the BSE Sensex was up 157.51 points, or 0.59%, to 27,970.93
On BSE, so far 5.35 lakh shares were traded in the counter, compared with an average volume of 3.51 lakh shares in the past one quarter.
The stock hit a high of Rs 409.70 and a low of Rs 391.10 so far during the day. The stock hit a record high of Rs 423.85 on 11 June 2014. The stock hit a 52-week low of Rs 331.60 on 13 October 2014.
The stock had outperformed the market over the past one month till 4 June 2015, rising 5.06% compared with 2.46% decline in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 4.37% as against Sensex's 8.74% fall.
The large-cap company has an equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
Coal India after market hours on 1 June 2015 said that the company and its subsidiaries achieved 98% of targeted production at 40.97 million tonnes in May 2015. Coal India achieved 96% of targeted offtake at 43.74 million tonnes in May 2015.
Coal India's consolidated net profit fell 4.4% to Rs 4238.55 crore on 2.9% increase in total income to Rs 23067.05 crore in Q4 March 2015 over Q4 March 2014.
Coal India is an organized state owned coal mining corporate.
Powered by Capital Market - Live News
