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Last Updated : Jun 18, 2019 12:36 PM IST | Source: Moneycontrol.com

Coal India gains 2% as CLSA optimistic on volume growth and cost

Company is optimistic on production growth despite on-the-ground challenges and expects costs to remain benign in FY20.

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Shares of country's largest coal miner Coal India gained 1.7 percent intraday on June 18 after global brokerage house CLSA said it is optimistic on company's volume growth and cost, although there is no visibility on price hikes yet.

Company is optimistic on production growth despite on-the-ground challenges and expects costs to remain benign in FY20.

While maintaining buy call on the stock with a target price at Rs 290, CLSA said, "Rail links are coming up gradually after considerable delays. Demand outlook is also good given the rising power requirement."

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The stock is trading at reasonable 10x FY20 PE with attractive 8 percent dividend yield, it added.

Disclaimer: The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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First Published on Jun 18, 2019 12:36 pm
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