Coal India has resistance around Rs 355, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "Coal India always has a typical behavior of moving in a range of about Rs 310 to Rs 355 - whenever the stock moves to Rs 350 you have some trigger or some reason for the profit bookings to come in. We have the wage rise fears and all those things which has made the stock to correct to Rs 315 and suddenly it has moved to that. Probably this time also I will keep the same range that Rs 350 should be seen as the strong resistance of the stock where profit booking will come and whenever it corrects take that at least for next couple of months the stock should move in a range of Rs 310 to Rs 355 that is the broad range."
The company's trailing 12-month (TTM) EPS was at Rs 0.00 per share. (Sep, 2011). The stock's price-to-earnings (P/E) ratio was 0.00. The latest book value of the company is Rs 30.77 per share. At current value, the price-to-book value of the company was 10.93. The dividend yield of the company was 1.16%.
