Coal India advanced 2.35% to Rs 302.10 at 12:36 IST on BSE, with the stock extending Wednesday's gain triggered by the company's board of directors declaring hefty interim dividend for the financial year ending March 2014.
Meanwhile, the S&P BSE Sensex was down 72.46 points or 0.34% at 21,216.49
On BSE, so far 17.21 lakh shares were traded in the counter as against average daily volume of 3.07 lakh shares in the past one quarter.
The stock hit a high of Rs 303.50 and a low of Rs 292.90 so far during the day. The stock had hit a record low of Rs 238.35 on 30 August 2013. The stock had hit a 52-week high of Rs 360.35 on 15 January 2013.
The stock had outperformed the market over the past one month till 15 January 2014, rising 4.09% compared with the Sensex's 2.77% rise. The scrip also outperformed the market in past one quarter, gaining 4.04% as against Sensex's 3.61% rise.
The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
Shares of Coal India gained 4.2% in two trading days from a recent low of Rs 289.90 on 14 January 2014 after the company after market hours on 14 January 2014 said that its board of directors approved payment of interim dividend of Rs 29 per share for the financial year ending March 2014. The stock rose 1.81% to settle at Rs 295.15 on Wednesday, 15 January 2014.
The date of payment of interim dividend 'is on and from 25 January 2014', Coal India said. Coal India has fixed 20 January 2014 as the record date for the purpose of payment of interim divided.
The Coal India stock offers a high dividend yield of 9.59% based on the current share price of Rs 302.10.
Coal India's consolidated net profit declined 0.8% to Rs 3052.36 crore on 5.8% growth in net sales to Rs 15411.49 crore in Q2 September 2013 over Q2 September 2012.
Coal India is the largest coal producer in the world.
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