Sell Coal India, target price Rs 126: Suruchi Kapoor

Suruchi Kapoor of Edelweiss Financial Services has a sell call on Coal India Ltd. with a target price of Rs 126.0 . The current price of Coal India Ltd. is Rs 135.45 Time period given by the analyst is Intra Day when Coal India Ltd. price can reach defined target. . Suruchi Kapoor recommended to keep a stoploss at Rs 147 .


Coal India Ltd., incorporated in 1973, has a market cap of Rs 83474.16 crore.


The share price of the company moved down by -1.96 per cent from its previous close of Rs 138.10. The last traded price is 135.40. Incorporated in 1973, Coal India has a market cap of Rs 83474.16 crore.

Investment Rationale

On the daily chart, the stock broke the neckline of Head and Shoulder pattern with volume.

Financials

For the quarter ended December 31, 2019, the company reported consolidated sales of Rs 21566.41 crore, up 13.59 per cent from last quarter sales of Rs 18986.50 crore and down -7.78 per cent from last year same quarter sales of Rs 23385.43 crore. The company reported net profit after tax of Rs 3,920.76 crore in the latest quarter.

Promoter/FII Holdings

Promoters held 69.04 per cent stake in the company as of December 31, 2019 while FIIs held 8.59 per cent, DIIs 19.55 per cent and public & others 2.82 per cent.