Coal India stock burns bright on robust volume, better outlook
₹3,742 per tonne, marking the third consecutive quarter of drop in the measure. Sure, an increase in demand may benefit realization.
However, coal sold through the e-auction route tracks prices of international coal, which have so far remained subdued, though there are initial signs of pick up now. “In July 2023, international coal prices have surged 20-25%, hence we expect progressive e-auction bookings to be done at higher prices," points out ICICI Securities.
Taking Monday’s gains into account, CIL’s shares are down by nearly 6% from their 52-week highs of ₹263.40 apiece seen in November. Investor sentiments could get an additional boost if power demand strengthens ahead.Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!
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