Jefferies on the other hand took a Hold stance while Kotak Institutional Equities recommended Reduce based on the continuing downward trend in auction prices which it said weighs on the profitability of the company.
Shares of Coal India hit a fresh 52-week high today after the state-owned firm's net profit rose 179 per cent for the quarter ended June 2022. Coal India stock gained 2.84 per cent to a new high Rs 226.10 against the previous close of Rs 219.85 on BSE. The share has gained 52.02 per cent in one year and risen 49.78 per cent since the beginning of this year. The market cap of the firm rose to Rs 1.34 lakh crore on BSE.