Coal India rose 1.31% to Rs 379.80 at 14:30 IST on BSE on reports coal workers called off their nationwide strike after the government assured trade unions that the company will not be privatised and the employees' interests will be protected.
Meanwhile, the BSE Sensex was up 356.72 points, or 1.33%, to 27,265.54.
On BSE, so far 1.17 lakh shares were traded in the counter, compared with an average volume of 2.24 lakh shares in the past one quarter.
The stock hit a high of Rs 385 and a low of Rs 378.30 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 240.50 on 26 February 2014.
The stock had outperformed the market over the past one month till 7 January 2015, rising 5.18% compared with 5.44% fall in the Sensex. The scrip had also outperformed the market in past one quarter, gaining 10.14% as against Sensex's 2.42% rise.
The large-cap coal miner has an equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
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Coal workers reportedly last night called off their nationwide strike after two days as the government assured trade unions that the state-run Coal India will not be privatised and the employees' interests will be protected.
In two days, the strike caused an estimated production loss of Rs 300 crore with over 75% of the daily 1.5 million tonnes output taking a hit. There were also apprehensions that a prolonged strike could lead to a possible electricity crisis if nearly 100 thermal power plants run out of fuel supplies, report said.
Nearly five lakh coal workers had gone on a strike day before yesterday on 6 January 2015, after five major trade unions, including the BJP-backed Bharatiya Mazdoor Sangh, gave a call for the biggest ever industrial action in four decades against what they called as attempts for "disinvestment in Coal India and denationalisation of coal mining, report added.
Coal India's consolidated net profit fell 28.2% to Rs 2192.38 crore on 0.6% rise in total income to Rs 17704.93 crore in Q2 September 2014 over Q2 September 2013.
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