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Sharekhan is bullish on Coal India has recommended buy rating on the stock with a target price of Rs 330 in its research report dated September 22, 2023.

Buy Coal India; target of Rs 330: Sharekhan

Selling on rallies might remain a favourable strategy as long as the Nifty50 remains below the 20,000 mark.

Hot Stocks | Why you should bet on Coal India, PNB, Honeywell Automation for short term

Coal India announced it will make a capital investment of nearly Rs 24,750 crore on 61 First Mile Connectivity (FMC) projects over the next couple of years in a bid to boost eco-friendly coal transportation

Coal India stock edges up on Rs 24,750-crore capex plans

BSE Metal Index advanced 11 percent in the last month amid expectations of rise in demand in domestic markets going forward

BSE Metal index soars 10% on hopes of demand revival despite global headwinds

To come up in three phases, these projects combined will have a capacity of 763.5 million tonnes per annum (MTPA) when completed, said the company.FMC projects involve transportation of coal in mechanized piped conveyors from production point to coal handling plantssilos with rapid loading system where coal is loaded directly into rail wagons.“It is essential that coal transportation is environment friendly to improve the quality of life of people living in the proximity of coalfield areas. FMC projects offer benefits like suppression of dust pollution and carbon emissions. They also reduce the load on road transportation leading to safety. Other benefits include precise quantity and quality coal is loaded for consumers with minimal manual intervention” said a senior CIL official.35 FMC projects under the first phase having 414.5 MTPA capacity account for Rs 10,750 crore. 8 projects of 112 MTPA capacity are already operational. CIL is gearing up to commission 17 more projects of 178 MTPA by FY 2024 end. The rest 10 comprising 124.5 MTPA capacity are expected to be operative by FY2025.The second and third phase projects account for 9 and 17 respectively. While their respective evacuation capacities are 57 MTPA and 292 MTPA, the investments sequentially, would be about Rs 2,500 crore and Rs 11,500 crore.Under the second phase, 5 projects of 21.5 MTPA capacity under construction are expected to be commissioned by FY 2025. Remaining projects are in different stages of progress with tenders issued and bid document under preparation.For the third phase, tenders have been floated for 3 projects of 65 MTPA capacity. 9 projects are to be executed through mine developers and operators. Phase three projects are anticipated to be commissioned by FY 2029.“Initially, CIL targeted coal mines having production capacity of 4 MTPA and above under first phase. After a pilot study conducted through NEERI on potential advantages of FMC projects, in two major OC projects, reflected sizable reduction in CO2 emissions, air pollutants, ambient noise levels and significant savings in diesel costs, CIL expanding the ambit included mines producing 2 MTPA and above in subsequent two phases,” the company stated in the press release.Total eco-friendly coal evacuation would go up to 914.5 MTPA when all the 61 projects become operational by FY 2029, including the earlier capacity of 151 MTPA, it added.Coal India is a coal mining company engaged in the production and sale of coal. As of 30 June 2023, the Government of India held 66.13% stake in the company.The companys consolidated net profit fell 9.8% to Rs 7,971.04 crore despite of 1.8% rise in net sales to Rs 33,072.64 crore in Q1 FY24 over Q1 FY23.Shares of Coal India slipped 2.40% to Rs 272.25 on the BSE.

Coal India to invest Rs 24,750 cr for 61 eco-friendly FMC projects

Coal India has planned a capital investment of around Rs. 24,750 crore in the next few years on 61 First Mile Connectivity (FMC) projects. To come up in three phases, these projects combined will have a capacity of 763.5 million tonnes per annum (MTPA) when completed. FMC projects involve transportation of coal in mechanized piped conveyors from production point to coal handling plantssilos with rapid loading system where coal is loaded directly into rail wagons.35 FMC projects under the first phase having 414.5 MTPA capacity account for Rs. 10,750 crore. 8 projects of 112 MTPA capacity are already operational. CIL is gearing up to commission 17 more projects of 178 MTPA by FY 2024 end. The rest 10 comprising 124.5 MTPA capacity are expected to be operative by FY 2025.The second and third phase projects account for 9 and 17 respectively. While their respective evacuation capacities are 57 MTPA and 292 MTPA, the investments sequentially, would be about Rs. 2,500 crore and Rs.11,500 crore. Under the second phase 5 projects of 21.5 MTPA capacity under construction are expected to be commissioned by FY 2025. Remaining projects are in different stages of progress with tenders issued and bid document under preparation. For the third phase, tenders have been floated for 3 projects of 65 MTPA capacity. 9 projects are to be executed through mine developers and operators. Phase three projects are anticipated to be commissioned by FY 2029.Initially, CIL targeted coal mines having production capacity of 4 MTPA and above under first phase. After a pilot study conducted through NEERI on potential advantages of FMC projects, in two major OC projects, reflected sizable reduction in CO2 emissions, air pollutants, ambient noise levels and significant savings in diesel costs, CIL expanding the ambit included mines producing 2 MTPA and above in subsequent two phases. Total eco-friendly coal evacuation would go up to 914.5 MTPA when all the 61 projects become operational by FY 2029, including the earlier capacity of 151 MTPA.

Coal India plans investment of Rs 2,750 cr in 61 FMC projects (eco-friendly coal evacuation)

The projects, which will be set up by CIL in three phases in a bid to promote eco-friendly coal transportation, will have a combined capacity of 763.5 million tonnes per annum (MTPA) on completion, Coal India has stated.

Coal India commits Rs 24,000 crore for 61 eco-friendly FMC projects

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Shares of Coal India surged 19.74% in six trading sessions from its recent closing low of Rs 228.75 on 30 August 2023.The stock hit 52-week high of Rs 274.30 today. The counter has soared 31.87% from its 52-week low of Rs 207.70 hit on 27 March 2023.On the BSE, 65.92 lakh shares were traded in the counter so far compared with average daily volumes of 6.20 lakh shares in the past two weeks. The scrip had outperformed the market in past one month, advancing 17.63% as against 0.46% increase in Sensex.The scrip outperformed the market in past one quarter, jumping 18.75% as against Sensexs 4.93% rise.The counter had outperformed the market in past one year, rising 14.72% as against Sensexs 12.24% surge.On the technical front, the stocks daily RSI (relative strength index) stood at 84.488. The RSI oscillates between zero and 100. Traditionally, the RSI is considered overbought when above 70 and oversold when below 30.On the daily chart, the stock was trading above its 50 day, 100-day and 200-day simple moving average (SMA) placed at 233.53, 233.45 and 227.36, respectively. These levels will act as crucial support zones in near term.Coal India is a coal mining company engaged in the production and sale of coal. As of 30 June 2023, the Government of India held 66.13% stake in the company.The companys consolidated net profit fell 9.8% to Rs 7,971.04 crore despite of 1.8% rise in net sales to Rs 33,072.64 crore in Q1 FY24 over Q1 FY23.

Coal India spurts 20% in six days; hits 52-week high

Coal India Ltd is up for a third straight session today. The stock is quoting at Rs 247.6, up 4.52% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 0.36% on the day, quoting at 19505.65. The Sensex is at 65554.17, up 0.26%. Coal India Ltd has gained around 6.29% in last one month. Meanwhile, Nifty Auto index of which Coal India Ltd is a constituent, has gained around 1.3% in last one month and is currently quoting at 26332.9, up 1.05% on the day. The volume in the stock stood at 187.8 lakh shares today, compared to the daily average of 80.93 lakh shares in last one month. The benchmark September futures contract for the stock is quoting at Rs 247.8, up 3.86%  on the day. Coal India Ltd is up 6.91% in last one year as compared to a 10.41% jump in NIFTY and a 3.35% jump in the Nifty Auto index.The PE of the stock is 9.38 based on TTM earnings ending June 23.

Coal India Ltd up for third straight session

Coal India Ltd. is a holding company, which engages in the production and sale of coal. Its products and services include coking coal, semi coking coal, non-coking coal, washed and beneficiated coal, middlings, rejects, coal fines and coke fines, tar, heavy oil, light oil, and soft pitch. The company was founded in June 14, 1973 and is headquartered in Kolkata, India.

Watchers	5,136
52-Wk Low	207.60
52-Wk High	294.15

Market Cap	1.79T
Volume (M)	12.43M
52-Wk High	294.15
52-Wk Low	207.60

COALINDIA.NSE Coal India Limited

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