COAL India - 1st Quarter Results - Angel Broking

Mr. Jyoti Roy - DVP - Equity Strategist, Angel Broking Ltd

"Coal India reported strong growth in production and sales for the month of August 2020 driven by pent up demand. Production was up 7.1% YoY to 37.17mn tonne while offtake was up by 9.3% YoY to 44.34mn tonnes. We believe that this will be sentimentally positive for Cola india in the short term though key to rerating for the stock will be sustained increase in production along with increase in global coal prices which have been under pressure over past few years."

Shares of COAL INDIA LTD. was last trading in BSE at Rs.136.3 as compared to the previous close of Rs. 133.5. The total number of shares traded during the day was 628345 in over 7320 trades.

The stock hit an intraday high of Rs. 137.45 and intraday low of 134.9. The net turnover during the day was Rs. 85736736.

Source : Equity Bulls

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