Buy Coal India around Rs 300, says SMC Global

Jagannadham Thununguntla, strategist & head of research of SMC Global Securities told CNBC-TV18, “Definitely Coal India is a good stock to enter, just wait for offer for sale (OFS) to come. Generally OFS comes anywhere from 8-10 percent discount to the market price. The OFS can be expected anywhere between Rs 280 and Rs 300, and that will be a better entry strategy.”

“It is a good stock and around Rs 300 you can buy. However, one thing is sure it will not be a multibagger kind of stock; it will be one of the stable return giving maybe typical 20-25 percent per year. You will have to give its own time and you will keep getting dividend. It is one of the stable stocks,” Thununguntla further added.