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Coal India share price up 4% as board to consider second interim dividend

Brokerage firm Geojit has a buy rating on the stock with a target of Rs 155 per share.

February 24, 2021 / 09:54 AM IST
Coal India | Board to meet on March 5 to consider second interim dividend.

Coal India | Board to meet on March 5 to consider second interim dividend.

 
 
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Coal India share price was up over 4 percent in the morning session on February 24 after the company said that its Board may consider a second interim dividend.

A meeting of the Board of Directors of the company will be held on March 5, 2021 to consider and approve payment of a second interim dividend for 2020-2021 if any.

It has fixed March 16, 2021, as the 'Record Date" for the purpose of payment of second interim dividend on equity shares for the financial year 2020-2021.

The stock was trading at Rs 142.80, up Rs 5.90, or 4.31 percent at 09:38 hours. It has touched an intraday high of Rs 142.95 and an intraday low of Rs 139.60.

Brokerage firm Geojit has a buy rating on the stock with a target of Rs 155 per share. It expects the business to perform well in the short to medium-term, as the demand from power plants would witness a sharp increase once their inventory levels deplete.

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"The long-term outlook remains positive with improvement in realization and the ability of the company to protect margins by improving efficiency," it added.

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According to Moneycontrol SWOT Analysis powered by Trendlyne, the stock is showing strong momentum: price above short, medium and long term moving averages with the company's book value per share improving for last 2 years.

Moneycontrol technical rating is very bullish with moving averages and technical indicators being bullish.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Moneycontrol News
first published: Feb 24, 2021 09:54 am

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