Coal India rose 3.1% to Rs 421 at 15:21 IST on BSE after a foreign brokerage reportedly maintained its 'overweight' outlook on the stock.
Meanwhile, the S&P BSE Sensex was up 137.25 points or 0.5% at 27,782.40
On BSE, so far 7.03 lakh shares were traded in the counter as against average daily volume of 3.98 lakh shares in the past one quarter.
The stock had hit a 52-week high of Rs 422.10 in intraday trade today, 30 June 2015. The stock hit an intraday low of Rs 409.10 so far during the day. The stock had 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 29 June 2015, rising 4.36% compared with 0.66% fall in the Sensex. The scrip also outperformed the market in past one quarter, gaining 17.53% as against Sensex's 0.68% gain.
The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
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The foreign brokerage reportedly said that Coal India looks much better positioned for growth with low volatility compared to its rivals in Asia. The brokerage was reportedly convinced about Coal India's volume growth and pricing power and expects 31% compounded annual growth rate (CAGR) in earnings before interest, depreciation, taxation and amortization (EBITDA) over FY 2015-18.
Coal India's consolidated net profit fell 4.4% to Rs 4238.55 crore on 3.9% growth in net sales to Rs 20774.22 crore in Q4 March 2015 over Q4 March 2014.
Coal India is an organized state owned coal mining corporate.
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