/ Coal India Trades Up From Its 3-Year Low ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Friday, 2 June 2017

Coal India Limited is buzzing on the bourses in the Friday’s trading session. The stock has touched intraday high of Rs 270 per share, up by Rs 4.9 per share or 1.8%.

The stock had slipped by over 3% to its three years low after posting its financial results for the quarter ended March 31, 2017.

The company’s consolidated revenue for the quarter came in at Rs 23172 cr, registering 8.3% Y-o-Y increase. EBITDA margin for the quarter stood at 14.6%.  The PAT for the quarter came in at Rs 2716 crore, Y-o-Y decline of 38.2%.

The other coal stocks like Gujarat NRE Coke Limited and GMDC Limited are trading in negative territory on Friday.

On global front, in past two years, the US and European countries have retired the equivalent of 128 coal generators. The US coal production is at its lowest since 1978 in 2017.

India has announced that it will not build new capacity beyond what is currently under construction until at least 2027. The government is concentrating more on renewable energy rather than non-renewable energy. Pollution is also another reason to phase out coal.

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