Coal India fires up

Coal India and its subsidiaries provisional production performance for month of Feb has cheered the market. The PSU reported that its production rose 4% (YoY) to 64.3 million tonnes in February.

Sales showed a 12% rise at 57.4 million tonnes.

And for the period from April’21 to Feb’22, production  was up 17% while sales rose 5%.

Majority of the fund houses tracking the stock have given this a thumbs up, maintaining their “buy” and “hold” call.

The stock today opened almost 3% higher at Rs.190 and went up further to an intraday high at Rs.198, not too far from its 52-week high of Rs.203.30.