Wed. Jun 26th, 2019

Coal India Share Price: Coal India jumps 2% ahead of Q3 numbers

NEW DELHI: Shares of Coal India jumped over 2 per cent in Tuesday’s session ahead of its December quarter numbers.

Around 10:25 am, shares of the company traded 2.13 per cent up at Rs 223.40 on BSE.

Shares of the company climbed even as several analysts and brokerages are not expecting upbeat third-quarter numbers from Coal India.

Centrum Broking expects Coal India’s earnings to be muted due to lower e-auction volumes. However, the brokerage prefers Coal India in the largecap mining space and expects e-auction volumes to recover in coming quarters.

Ebitda of Coal India may slip 3.5 per cent year-on-year (YoY) for December quarter, the brokerage said, adding, that PAT (adjusted for forex and extraordinary items) may see an 11.1 per cent YoY rise.

Edelweiss Securities expects the company’s Ebitda to decline YoY owing to lower e-auction sales and premium. Shipment growth is expected to be robust at 12 per cent YoY, however, the bulk of it would be towards the regulated sector, the brokerage said.

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