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    Coal India shares jump 7% after co posts monthly provisional figures

    Coal India shares jump 7% after co posts monthly provisional figures

    Coal India shares jump 7% after co posts monthly provisional figures
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    By CNBCTV18.com  IST (Published)

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    Coal India share price: Shares of Coal India rose as much as 7 percent on Wednesday after the company reported its monthly provisional offtake and production numbers for February. The stock was the top gainer on Nifty50 today. Coal production for February grew 4 percent Year-on-Year (YoY) while production during April-February was up 5 percent YoY.

    Shares of Coal India rose as much as 7 percent on Wednesday after the company reported its monthly provisional offtake and production numbers for February. The stock was the top gainer on Nifty50 today.
    At 10:20 am, the stock was up 5.7 percent at Rs 178.30 on BSE. In comparison, the Nifty Metal index rose 4.5 percent.
    The stock has been gaining for the last three days and has risen nearly 19 percent during the period.
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    Coal India shares are trading higher than their 5, 20, 50, 100 and 200-day moving averages.
    Coal production for February grew 4 percent Year-on-Year (YoY) while production during April-February was up 5 percent YoY.
    Meanwhile, growth in offtake for the reporting month was 12 percent YoY and for April-February nearly 17 percent YoY.
    The coal major had reported a near 48 percent rise in consolidated net profit to Rs 4,558.39 crore for the quarter ended December, on the back of higher revenue from operations. The PSU's consolidated net profit was at Rs 3,085.39 crore in the year-ago period.
    The consolidated revenue from operations during October-December had increased to Rs 28,433.50 crore from Rs 23,686.03 crore in the year-ago period.
    Analysts in a CNBC-TV18 poll had estimated the net profit at Rs 4,195 crore and revenue at Rs 27,625 crore.
     
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