Buy Coal India, target price Rs 245: Religare Broking

Religare Broking has buy call on Coal India with a target price of Rs 245. The current market price of Coal India is Rs 230.7. Religare Securities recommended to keep stop loss at Rs 220.

Coal India, incorporated in the year 1973, is a Large Cap company (having a market cap of Rs 141496.24 Crore) operating in Mining sector.

Coal India key Products/Revenue Segments include Other Operating Revenue and Coal for the year ending 31-Mar-2022.


Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 36754.29 Crore, up 16.31 % from last quarter Total Income of Rs 31599.24 Crore and up 26.36 % from last year same quarter Total Income of Rs 29086.35 Crore. Company has reported net profit after tax of Rs 7633.28 Crore in latest quarter.

The company’s top management includes Mr.Pramod Agrawal, Mr.Punambhai Kalabhai Makwana, CA.Kamesh Kant Acharya, Mr.B Rajeshchandar, CA.Denesh Singh, Prof.G Nageswara Rao, Mrs.Nirupama Kotru, Mr.V K Tiwari, Mr.B Veera Reddy, Mr.Vinay Ranjan, Mr.Debasish Nanda, Dr.Arun Kumar Oraon. Company has Ray & Ray as its auditors. As on 31-03-2023, the company has a total of 616 Crore shares outstanding.

Investment Rationale
Witnessed range breakout after 4 months. Expect gradual up move.

Promoter/FII Holdings
Promoters held 66.13 per cent stake in the company as of 31-Mar-2023, while FIIs owned 7.84 per cent, DIIs 20.89 per cent.