Coal India rose 1.54% to Rs 322.35 at 15:22 IST on BSE after the company scheduled a board meeting on 11 July 2016 to consider the proposal for buyback of equity shares.
The announcement was made during market hours today, 5 July 2016.Meanwhile, the S&P BSE Sensex was down 113.38 points or 0.42% at 27,165.38
On BSE, so far 3.45 lakh shares were traded in the counter as against average daily volume of 5.12 lakh shares in the past one quarter. The stock hit high of Rs 323.10 and low of Rs 317 so far during the day. The stock had hit a record high of Rs 447.25 on 5 August 2015. The stock had hit a 52-week low of Rs 272.05 on 12 April 2016. The stock had outperformed the market over the past 30 days till 4 July 2016, rising 2.75% compared with Sensex's 1.62% rise. The scrip also outperformed the market in past one quarter, rising 14.98% as against Sensex's 9.63% gain.
The large-cap company has equity capital of Rs 6316.36 crore. Face value per share is Rs 10.
Shares of Coal India rose 2.37% to settle at Rs 317.45 yesterday, 4 July 2016 after the company said that Coal India and its subsidiaries on a provisional basis achieved 99% of targeted production at 42.72 million tonnes in June 2016. With respect to coal offtake, 95% of target was achieved for the month. The total offtake stood at 44.96 million tonnes in June 2016. The company announced the monthly coal production and offtake performance market hours on Friday, 1 July 2016.
Coal India's consolidated net profit rose 0.2% to Rs 4247.93 crore on 0.7% decline in total income to Rs 22904.36 crore in Q4 March 2016 over Q4 March 2015.
State-run Coal India is India's biggest coal miner. The Government of India currently holds 79.65% stake in Coal India (as per the shareholding pattern as on 31 March 2016).
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