Buy Coal India, target price Rs 213: ICICI Direct

ICICI Direct has buy call on Coal India with a target price of Rs 213. The current market price of Coal India is Rs 190.4. Time period given by analyst is 30 days 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 118478.45 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 31-03-2022, the company reported a Consolidated Total Income of Rs 34495.71 Crore, up 18.60 % from last quarter Total Income of Rs 29086.35 Crore and up 23.31 % from last year same quarter Total Income of Rs 27974.12 Crore. Company reported net profit after tax of Rs 6714.24 Crore in latest quarter.

Investment Rationale
The brokerage expects the stock to continue with its up move and head towards Rs 213 levels in the coming weeks as it is the 123.6% external retracement of the last decline (Rs 209-165.)

Promoter/FII Holdings
Promoters held 66.13 per cent stake in the company as of 31-Mar-2022, while FIIs owned 6.94 per cent, DIIs 21.76 per cent.