Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,921.50-96.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

CLSA retains buy on Coal India, target price Rs 270

Buy Coal India Ltd. at a price target of Rs 270.0 .

Updated: Nov 14, 2019, 08.40 AM IST
0Comments
ThinkStock Photos
buy-sell9
CLSA has retained buy rating on Coal India in the long term with a target price of Rs 270. The stock ended down 1.3% at Rs 207.20 on Wednesday while the BSE Sensex closed 229.02 points down at 40,116.06.

Company Financials

For the quarter ended 30-09-2019, the company has reported consolidated sales of Rs 20382.63 crore, down -12.23% from last quarter sales of Rs 23223 crore and down -1.59% from last year same quarter sales of Rs 20712.71 crore. The company has reported net profit after tax of Rs 3524.25 crore in the latest quarter.

Investment Rationale

Coal India’s earnings outlook is weak near-term given muted volume growth and e-auction prices coming off a high base, said CLSA. However, the brokerage still finds it a good defensive play given little demand risk, low commodity price exposure, a net cash balance sheet, strong cash flows and its 10% dividend yield.
Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Disclaimer: This recommendation is analyst's own and does not represent those of economictimes.com & ETMarkets.com. Please consult your financial advisor before taking any position in the stock/s mentioned.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service