Buy Coal India, target price Rs 202: Yes Securities

Yes Securities has buy call on Coal India with a target price of Rs 202. The current market price of Coal India Ltd. is Rs 189.05. Time period given by analyst is Intra Day when Coal India Ltd. price can reach defined target.

Coal India Ltd., incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 116568.01 Crore) operating in Mining sector.

Coal India Ltd. key Products/Revenue Segments include Other Operating Revenue and Coal for the year ending 31-Mar-2021.



Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 29086.35 Crore, up 20.83 % from last quarter Total Income of Rs 24072.83 Crore and up 19.53 % from last year same quarter Total Income of Rs 24334.62 Crore. Company reported net profit after tax of Rs 4559.74 Crore in latest quarter.

Investment Rationale
The stock is on the verge of a breakout from a consolidation phase and turned upwards suggesting a possible short covering rally in the coming sessions. Technical Indicators are also favouring the same.

Promoter/FII Holdings
Promoters held 66.13 per cent stake in the company as of 31-Dec-2021, while FIIs owned 6.59 per cent, DIIs 21.25 per cent.