Coal India's two-day OFS opened on Thursday as the government is likely to raise Rs 4,200 crore via the offer by selling 18.48 crore equity shares or a 3 per cent stake in the company.
Coal India: The price hike is seen realising an incremental revenue of Rs 2,700 crore for Coal India in FY24 and helping the PSU offset 50 per cent of higher employee cost post wage hike announced in January 2023.
Coal India: E-auction price, though fell from highs, is still higher than its historical average. Nuvama is factoring in Rs 3,000 e-auction price for Coal India in FY24 and Rs 2,035 in FY25.
The list compiled by the homegrown brokerage firm Axis Securities has a total of nine shares, whose dividend yield is more than 10 per cent in the last 12 months.