PN Vijay's view on Coal India

PN Vijay, Portfolio Manager shares his view on Coal India.

Vijay told CNBC-TV18, "I think Coal India should be good because I don’t know how the earnings are so complicated with so much of e-auction and so much of fixed pricing etc but going forward, I think lot of blocks are being released for them from other producers who are not coal producers like NTPC etc and I think that they have got their act together also and they have got now this pressure to deliver on a fixed basis. So all these things considered, ofcourse the demand for coal is humongous in India and I don’t see that reducing for a long time. Coal India has withstood several problems in the market."
He further added, "The only problem for Coal India, it is also a bit of a trading stock. People tend to sell it off when it comes to about Rs 355-360, pick it up again at Rs 310. So it needs to breakout of that for a decisive move. But in this troubled market where commodities are all under pressure, coal could be something that you could look at with greater confidence."