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Buy Coal India; target of Rs 210: Edelweiss Securities

Edelweiss Securities is bullish on Coal India has recommended buy rating on the stock with a target price of Rs 210 in its research report dated December 02, 2021.

December 03, 2021 / 02:19 PM IST
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Edelweiss Securities' report on Coal India

Coal India (CIL) sustained a firm operating performance in Nov-21. Key points: i) Production at 1.79mt/day is the highest ever in FY22. ii) SECL’s operating performance improved. iii) Offtake rose further to 1.89mt/day. Taking cognisance of year to Nov-21 performance, we expect our offtake estimate of 643mt (up 12% YoY) to be met easily. Going ahead, we expect higher e-auction volume/price premium and robust demand to drive performance. Furthermore, pit-head inventory at 29mt is significantly lower than Mar-21 levels.


We believe significant cash accretion through Mar-22 would result in a dividend yield of 12–13%. Maintain ‘BUY’ on CIL with an unchanged TP of INR210/share at 9x FY23E EPS.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Dec 3, 2021 02:19 pm

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