 "Coal India extends rally on brokerage upgrade")
Shares of Coal India, Indian state-controlled coal mining company, extend the rally and are trading higher by 2% to Rs 413 on the Bombay Stock exchange (BSE) on brokerage upgrades.
Morgan Stanley upgraded the stock in view of improving realisations and policy reforms which are likely to drive the earnings of the company in the forthcoming years.
Meanwhile, Barclays also upgraded the stock and said the earnings would be boosted by an increase in the price of coal.
Coal India's production for the month of May jumped 13% as against the same period last year.
The stock opened at Rs 406 and touched a high of Rs 414 on the BSE.