Accumulate Coal India, says Sandeep Singal

Accumulate Coal India, says Sandeep Singal of Emkay Global Financial Services.

Singal told CNBC-TV18, "Coal prices have fallen. The import of coal will reduce. Coal India is fairly priced. We have  accumulated rating on this. There is not a serious upside in this stock because they cannot increase volume off take  seriously."
At 14:25 hrs Coal India was quoting at Rs 311.10, up Rs 8.65, or 2.86 percent. It has touched an intraday high of Rs  313.80 and an intraday low of Rs 300.
The share touched its 52-week high Rs 386 and 52-week low Rs 291.20 on 17 September, 2012 and 19 March, 2013,  respectively. Currently, it is trading 19.4 percent below its 52-week high and 6.83 percent above its 52-week low.  Market capitalisation stands at Rs 196,502.10 crore.