Hold Coal India, says Thununguntla

Jagannadham Thununguntla, Strategist & Head of Research of SMC Global Securities Limited is of the view that one can hold Coal India at current level.

Thununguntla told CNBC-TV18, “Coal India is a quality company. From the tactical point of view I feel the offer for sale should be close to about Rs 280 mark considering the past experience and then the discount that used to come. So, if it is Rs 280 the investor will better off booking profits now and then thinking about adding more shares in the offer for sale. However, that is just a tactical view point but from a stock point of view it makes sense to hold at this point.”
Coal India ended at Rs 310, down Rs 5.45, or 1.73 percent. It has touched an intraday high of Rs 315 and an intraday low of Rs 308.80.