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    COALINDIA   INE522F01014

COAL INDIA LIMITED

(COALINDIA)
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Coal India : allows buyers to export for first time

06/11/2021 | 06:26am EDT

CHENNAI (Reuters) - State-run Coal India Ltd said on Friday buyers are now allowed to export coal bought from the miner through e-auctions, in what it called a "first of its kind" and a major policy shift.

The world's largest miner by production would not be exporting coal directly, but said it has lifted an export embargo allowing buyers to export coal purchased through spot and special e-auctions.

"Allowing those who procure coal under the two auction windows to export may prove to be catalytic to our sales," Coal India said in a statement.

Coal India's shares, which have outperformed the broader market and risen by a sixth this year, were up 3.7% at 162.25 rupees ($2.22) on Friday afternoon.

The company has been hit by tepid demand for the fuel due to record high inventories held by the miner and power plants across the country. Coal output slipped for the second straight time during the fiscal year 2020/21.

India is a net importer of coal despite having the world's fourth largest coal reserves.

($1 = 73.0500 Indian rupees)

(Reporting by Sudarshan Varadhan; editing by Emelia Sithole-Matarise)


© Reuters 2021
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Financials
Sales 2021 888 B 11 977 M 11 977 M
Net income 2021 120 B 1 618 M 1 618 M
Net cash 2021 102 B 1 372 M 1 372 M
P/E ratio 2021 7,53x
Yield 2021 8,92%
Capitalization 902 B 12 165 M 12 163 M
EV / Sales 2021 0,90x
EV / Sales 2022 0,75x
Nbr of Employees 272 445
Free-Float 33,9%
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Technical analysis trends COAL INDIA LIMITED
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Mean consensus OUTPERFORM
Number of Analysts 25
Last Close Price 146,40 INR
Average target price 173,25 INR
Spread / Average Target 18,3%
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Managers and Directors
Pramod Agrawal Chairman & Managing Director
Sanjiv Soni Director & Finance Director
Binay Dayal Director & Technical Director
M. Viswanathan Joint Secretary & Compliance Officer
Vinod Kumar Tiwari Non-Executive Director
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