ICICI Securities Bullish on Coal India Shares, know why rrmb

new Delhi. Market analysts are bullish on this public sector company due to the excellent results of Coal India Limited’s third quarter (Coal India Q3 Results). After the Coal India Board approved the payment of the second interim dividend of Rs 5 per share for the financial year 2021-22, now the brokerage firm is expecting a 40 per cent jump in the company’s shares. Investors have been advised to buy shares of brokerage firm ICICI Securities and Motila Oswal Coal India.

Coal India Limited has given a dividend of Rs 9 per share to its investors in December 2021 as well. In this way, the shareholders of the company will get a total dividend of Rs 14 per share in this year. ICICI Securities believes that a minimum dividend of Rs 4 per share and dividend can also be distributed.

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40 percent jump may come in the stock

Brokerage firm ICICI Securities has retained its buy rating of Coal India. The brokerage firm has given its target price of Rs 234. This is more than 40 percent more than the current price of the company’s shares. The brokerage firm says that due to rising coal consumption in coal-based power plants in the country and rising international coal prices, it is expected that Coal India will grow well in the fourth quarter of FY 2022 as well. Although several rising costs will keep the pressure on the company, but the rising coal prices will overcome the cost escalation.

At the same time, brokerage firm Motilal Oswal has also retained the buy rating of Coal India. The brokerage firm says that Coal India is fully capable of meeting the growing needs of India. At present, many of its projects are in the development stage. They will start giving results in the next two to three years. Motilal Oswal, while giving buy rating to the share of Coal India, has given its target price (Coal India Share Target Price) of Rs 217 per share.

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Excellent quarterly results of Coal India

Coal India Limited has a consolidated net profit of Rs 4,556 crore in the December 2021 quarter (Coal India Q3 Results). The company’s profit has increased by 48 percent as compared to the same period a year ago. In October-December 2021, the company’s sales grew by 20 percent to 25,991 crores. The company’s sales were Rs 21,708 crore in the same period a year ago. The revenue from operations of Coal India Limited grew by 20 percent to Rs 28,433 crore in the third quarter. It was Rs 23,686 crore in the same period a year ago.

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