Hold Coal India: Rajesh Agarwal

One can hold Coal India, says Rajesh Agarwal, Eastern Financiers.

Agarwal told CNBC-TV18, "Long term investors should continue to hold positions in Coal India because I believe with the kind of reserves this company has and the kind of cash this company has in its balance sheet and it's trading at a PE of less than 14, which I think is highly attractive. A short term target of Rs 420 is quite achievable."
He further added, “Going forward with an increased production, e-auctions and all these things with today’s news of FSA being almost settled, I think it’s a long way to go. Atleast Rs 420 in the short to medium term and around Rs 480 in the long term that’s one year down the line is quite achievable. I will suggest holding onto the scrip."