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market | IST

Here's why Coal India was buzzing in trade today

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Coal India Ltd's (CIL) stock was buzzing in trade on Wednesday (November 24) as its board meets on November 29 to consider and approve the interim dividends.

State-owned Coal India Ltd's (CIL) stock was buzzing in trade on Wednesday (November 24) as its board meets on November 29 to consider and approve the interim dividends.
Coal India's market capitalisation has come down to Rs 1 lakh crore and cash in books is near 27 percent of its M-cap.
The December Futures suggests that the Street is factoring in a mere Rs 3 dividend but in case it's an extra-ordinary dividend, which is more than 5 percent of the current market price, then there is likely to be an adjustment on both cash as well as Futures side which could lead to a bit of a short-covering bounce.
A couple of other near term triggers include wage negotiations and also the long-awaited FSA price increase.
Watch the video for more.