Moneycontrol
Last Updated : Mar 14, 2018 12:08 PM IST | Source: Moneycontrol.com

Citi neutral on Coal India, target Rs 320; expect another small dividend payout

According to firm, most of the triggers have largely played out and there is a limited visibility on further triggers.

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Share price of Coal India slipped 1.6 percent intraday Wednesday as broking firm Citi has downgraded the stock to neutral from buy and also cut target price to Rs 320 from Rs 365 per share.

According to firm, most of the triggers have largely played out and there is a limited visibility on further triggers.

Further FSA price hikes may not be imminent and e-auction price upside may be limited, it added.

The firm believes that commercial mining is not a worry and expect another small dividend payout.

At 11:39 hrs Coal India was quoting at Rs 292.85, down Rs 1.90, or 0.64 percent.

Posted by Rakesh Patil
First Published on Mar 14, 2018 12:08 pm
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