Coal India lost 0.49% to Rs 282.50 at 11:45 IST on BSE, with the stock trading lower amid intraday volatility.
Meanwhile, the S&P BSE Sensex was down 219.45 points or 0.85% at 25,554.16.
On BSE, so far 80,000 shares were traded in the counter as against average daily volume of 5.09 lakh shares in the past one quarter. The stock was volatile. The stock lost as much as 0.86% at the day's low of Rs 281.45 so far during the day. The stock rose as much as 0.52% at the day's high of Rs 285.40 so far during the day. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had hit a record high of Rs 447.25 on 5 August 2015. The stock had outperformed the market over the past one month till 17 May 2016, gaining 2.51% compared with Sensex's 0.57% rise. The scrip had, however, underperformed the market in past one quarter, sliding 9.28% as against Sensex's 10.23% rise.
The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
In a recent development, the Competition Appellate Tribunal (Compat) yesterday, 17 May 2016, quashed a 2013 order of the Competition Commission of India (CCI) which imposed a Rs 1773.05 crore penalty on Coal India and three of its subsidiaries alleging misuse of their monopoly to supply poor quality coal and fixing prices. Compat has sent the case back to the CCI to be heard again within two months.
The CCI in December 2013 had found Coal India and its three subsidiaries viz. Mahanadi Coalfields, Western Coalfields and South Eastern Coalfields guilty of abusing their dominant position for supplying non-coking coal and having unfair fuel supply contracts.
On consolidated basis, Coal India's net profit rose 14% to Rs 3718.25 crore on 6.8% growth in net sales to Rs 18971.48 crore in Q3 December 2015 over Q3 December 2014. The company is scheduled to announce its Q4 March 2016 results on 28 May 2016.
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Coal India is an organized state-owned coal mining corporate. The Government of India held 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).
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