Buy Coal India; target of Rs 290: Motilal Oswal

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

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26 Aug, 2025 12:21

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COAL reported an improvement in its operating metrics, with output from open cast mines continuing to rise in overall output to 96% in FY22 from 95% in FY20, despite a 4% growth in total output. -Manpower productivity in both UG and OC mines improved by 8%/7%. The manpower productivity at OC mines now stands at 4,061t per employee. With the opening up of additional mega mines, manpower productivity is likely to improve substantially.

We maintain our recently upgraded TP of INR290, based on 4x FY23E EV/EBITDA (refer our recent note on COAL.

At 10:57 hrs Coal India was quoting at Rs 236.00, down Rs 0.25, or 0.11 percent.

It has touched an intraday high of Rs 237.95 and an intraday low of Rs 234.75.

It was trading with volumes of 109,324 shares, compared to its thirty day average of 533,140 shares, a decrease of -79.49 percent.

In the previous trading session, the share closed down 1.05 percent or Rs 2.50 at Rs 236.25.

The share touched its 52-week high Rs 241.85 and 52-week low Rs 139.20 on 08 September, 2022 and 20 December, 2021, respectively.

Currently, it is trading 2.42 percent below its 52-week high and 69.54 percent above its 52-week low.

Market capitalisation stands at Rs 145,440.39 crore.

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