Coal India Share Price Target 2024: PSU Stock Hits 52-Week High; Analysts See More Potential to Power Up Your Portfolio

Coal India Share Price Target 2024: PSU Stock Hits 52-Week High; Analysts See More Potential to Power Up Your Portfolio

Coal India Share Price Target 2024, Coal India Share Price Today News, Coal India Dividend History: Coal India share price is just 0.48 per cent away from touching the fresh 52-week high of Rs 468.60 a share on the National Stock Exchange (NSE). The counter zoomed 3.45 per cent intraday to quote at Rs 468 apiece, from its previous close of Rs 452.35 a share. The scrip’s performance was in line with the sector. The counter settled in green to quote at Rs 467.40 a share on the NSE, up by 3.33 per cent.

Coal India Share Price Target 2024

Axis Securities recommended ‘BUY’ on the mining company. The domestic broking firm also hiked the share price target to Rs 500 from Rs 470 per share.

The analysts at the brokerage are bullish as the state-owned coal behemoth is focusing on multiple initiatives including using MDO model (Mine Developer Operators) for greenfield and brownfield mines, first mile connectivity projects for evacuation efficiency, using high-capacity Heavy Earth Moving Machinery and rapid exploration activities and obtaining faster ECs. These initiatives pave the way for higher feasibility of achieving production growth YoY.

Coal India Results

Brokerage in its report said, “CIL posted robust results with EBITDA/PAT beating ours and consensus estimates. Total consolidated revenue stood at Rs 36,154 Cr (up 3%/10% YoY/QoQ), which was in line with our estimates. EBITDA stood significantly ahead of our and consensus estimate at Rs 11,373 Cr (up 9%/40% YoY/QoQ), mainly led by lower RM costs (down 41%/47% YoY/QoQ) and stable employee expenses (flat YoY, down by 1% QoQ).”

“Attributable PAT stood at Rs 9,069 Cr, up 17%/33% YoY/QoQ, ahead of consensus by 17%, led by higher EBITDA and other income,” it added.

Coal India Share Price Today News

The stock has been gaining for the last two days and has risen 7.75 per cent returns in the period. The mining and miners sector has gained by 3.25 per cent.

Coal India Dividend History

CIL declared a 2nd interim dividend of Rs 5.25/share with 20th February 2024 as the record date. The first interim dividend was declared in November 2023 at Rs 15.25/share, which brings the total interim dividend for FY24 to Rs 20.5/share.

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