Moneycontrol
Feb 16, 2017 04:09 PM IST | Source: Moneycontrol.com

Buy Coal India; target of Rs 360: ICICI Direct

ICICI Direct is bullish on Coal India has recommended buy rating on the stock with a target price of Rs 360 in its research report dated February 14, 2017.

Buy Coal India; target of Rs 360: ICICI Direct


ICICI Direct's research report on Coal India


Coal India (CIL) reported broadly in line performance for Q3FY17 numbers. The performance was marked by a healthy increase in eauction realisation. Topline for the quarter was in line with our estimate while EBITDA and PAT came in marginally above our estimates.


Outlook


We have a BUY recommendation on Coal India. Overall, we remain positive on the long term prospects of the company on the back of lower cost of production and healthy dividend yield. CIL has a strong balance sheet, healthy cash flow and net cash status, which also augurs well for the company.

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