Coal India gains as Jefferies sees 44% upside on cheap valuations


Coal India gains as Jefferies sees 44% upside on cheap valuations

Coal India shares gained nearly a percent intraday Tuesday after global brokerage house Jefferies has a buy rating on the stock with a price target at Rs 309, implying a 44 percent potential upside from November 25’s levels.

The stock price fell 26 percent in last 6 months on volume growth concerns. Hence, the valuation appears cheap at current levels, it said.

Now the resolution of short term disruptions and recent environment clearance approval could lift volume growth, according to the brokerage house which believes with power plant coal stocks normalising, e-auction mix should improve. Read More

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