Bharat Coking Coal shares slide 9% amid profit booking after delivering 96% returns on listing. Here's a stop loss for medium-term horizon

Bharat Coking Coal shares see profit booking in trade.

• Bharat Coking Coal listed at Rs 45, up 96 percent from its IPO price of Rs 23.
• Shares saw mild profit booking, falling over 6 percent to Rs 42.27 by noon.
• Experts suggest booking partial profits, holding rest long-term with stop-loss.

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Bharat Coking Coal shares witnessed profit booking intraday, after posting 96 percent listing gains on Monday.

Shares of Bharat Coking Coal Ltd made a remarkable stock market debut, listing with a premium of 96.5 percent, against the issue price of Rs 23. The stock was listed at Rs 45.21, a steep premium of 96.56 percent from the issue price on the BSE. At the NSE, the stock made its market debut at Rs 45, up 95.65 percent.

However, by around 2:30 pm, the stock was down more than 9 percent to Rs 40.87 per share.

Shivani Nyati, Head of Wealth at Swastika Investmart, noted "Bharat Coking Coal Ltd (BCCL) delivered a blockbuster debut on Dalal Street, nearly doubling investor wealth on listing day. The stellar listing was driven by strong fundamentals, BCCL’s strategic importance in India’s steel and metallurgical coal supply chain, and a positive outlook for the coal and core infrastructure sector. Strong IPO oversubscription across categories clearly translated into aggressive buying interest on debut."

On a post-listing view, she added "Traders and short-term investors may consider book profits. Long-term investors may continue to hold the stock with a stop-loss of Rs 35, keeping a medium-to-long-term perspective."

"The strong growth outlook for the coal sector supports BCCL’s long-term business potential and positions the company to benefit from rising demand from the steel and power industries. Investors who have received allotted shares may book partial profit at listing at premium and can keep rest for long-term. On the other hand, those who did not get shares in IPO may buy when price comes down," added Ravi Singh, Chief Research Officer at Master Capital Services Ltd.

The initial public offering of Bharat Coking Coal Ltd subscribed by a massive 146.81 times on the final day of bidding on Tuesday last week, led by heavy investors' participation. The Rs 1,071-crore IPO had a price band of Rs 21-23 per share.

The IPO of Bharat Coking Coal Ltd got fully subscribed within minutes of opening for bidding on January 9.

The company's IPO was the first mainboard issue of 2026. The company was incorporated in 1972 to mine and supply coking coal concentrated in mines at Jharia, Jharkhand, and Raniganj, West Bengal, coalfields.

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