Moneycontrol
Apr 18, 2017 12:09 PM IST | Source: Moneycontrol.com

Sell Coal India; target of Rs 261: Investment Imperative

Investment Imperative is bearish on Coal India has recommended sell rating on the stock with a target price of Rs 261 in its research report dated April 18, 2017.

 
 
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Investment Imperative's research report on Coal India


Coal India Limited saw subdued growth of 2.3% to 554 mt (million tonnes) in production for FY16-17 as compared to estimates of 599 mt. The mining giant has seen a subdued performance in the current fiscal on higher employee expenses, lower output, partially offset by higher thermal coal prices.


Outlook


Considering the lower than estimated production, financials of select subsidiaries, declining PLFs, the outlook of weaker thermal coal prices, revaluation in line with global peers, we are giving a price target of Rs. 261 in FY17-18 and Rs.325 in FY18-19.


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