Coal India share price rose nearly 2 percent in early trade on June 15, a day after the company posted its March quarter earnings.
State-owned Coal India on Monday reported a marginal 1.1 percent decline in its consolidated profit at Rs 4,586.78 crore for the quarter ended March 2021 on the back of lower sales.
The company had posted a consolidated profit of Rs 4,637.95 crore in the same period a year ago.
Its consolidated sales in the January-March period declined to Rs 24,510.80 crore, from Rs 25,597.43 crore in the March quarter of 2019-20.
However, the expenses of the company during the January-March 2021 quarter dropped to Rs 21,565.15 crore from Rs 22,373.046 crore in the year-ago period.
Here is what brokerages have to say about the stock and the company after the March quarter earnings:
Citi | Rating: Buy | Target: Raised to Rs 160
The e-auction prices will trade at a discount unless demand rises sharply. The next wage revision due in July is the key to watch out for. The company trades well below its historical mean but in line with regional players.
JPMorgan | Rating: Overweight | Target: Rs 200
The e-auction price increase offsets higher costs. The final dividend per share at 80 percent is positive.
On 1-year basis, the company is the biggest laggard among Indian commodity stocks. It’s amongst cheapest stocks within our coverage universe, said JPMorgan
At 09:27 hrs, Coal India was quoting at Rs 158.80, down Rs 0.55, or 0.35 percent on the BSE.
The share touched a 52-week high of Rs 165 and a 52-week low of Rs 109.55 on 11 June, 2021 and 15 October, 2020, respectively.
Currently, it is trading 3.76 percent below its 52-week high and 44.96 percent above its 52-week low.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.