Buy Coal India, target price Rs 265: Axis Securities
Coal India with a target price of Rs 265. The current market price of Coal India is Rs 232.15.
Coal India, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 143591.57 Crore) operating in Mining sector. Coal India key Products/Revenue Segments include Other Operating Revenue and Coal for the year ending 31-Mar-2022.Financials For the quarter ended 30-06-2023, the company has reported a Consolidated Total Income of Rs 37521.03 Crore, down -7.04 % from last quarter Total Income of Rs 40362.36 Crore and up 3.97 % from last year same quarter Total Income of Rs 36086.68 Crore.
Company has reported net profit after tax of Rs 7964.42 Crore in latest quarter. Investment Rationale The brokerage expects e-auction volumes to rise which could partially compensate for thefalling e-auction premiums. The brokerage maintain its BUY rating on the stock.Promoter/FII Holdings Promoters held 63.13 per cent stake in the company as of 30-Jun-2023, while FIIs owned 9.3 per cent, DIIs 22.13 per cent.
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