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    COALINDIA   INE522F01014

COAL INDIA LIMITED

(COALINDIA)
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Indian shares slip as losses in Reliance outweigh Coal India gains

09/13/2021 | 06:38am EDT
A man wearing a protective mask walks past the Bombay Stock Exchange (BSE) building in Mumbai

BENGALURU (Reuters) - Indian shares closed lower on Monday, as losses in heavyweight Reliance Industries over a delay in launching its low-cost smartphone, outweighed sharp gains in Coal India.

The blue-chip NSE Nifty 50 index closed 0.08% lower at 17,355.30, and the benchmark S&P BSE Sensex fell 0.22% to 58,177.76.

Investors are also awaiting August inflation data due later in the day, though analysts expect the reading to hold steady and stay within the central bank's comfort zone, a Reuters poll showed.

Reliance dragged the index lower, ending down 2.23% after it delayed the launch of an "ultra-affordable" smartphone, being developed by the company's telecom arm and Google, to November.

Private sector lenders ICICI Bank and HDFC Bank ended down 1.8% and 0.8% respectively, and were among the top five losers on the Nifty.

However, losses were cushioned by sharp gains in the world's largest coal miner, Coal India, that ended up 4% after local media reported it might raise prices to mitigate the impact of rising costs and a wage revision.

IT stocks also lent support, with shares of Tata Consultancy Services closing 1.4% higher, among the top gainers on both the indexes, following the company's partnership with Dutch tech company NXP Semiconductors NV.

Among other stocks, beleaguered airline Jet Airways jumped 5% on news it would resume domestic operations by the first quarter of 2022. Telecom operator Bharti Airtel, which scaled a record high during the session, ended up 1.04%.

Nifty's metal index advanced for a third session, rising 1.29%.

Suryoday Small Finance Bank SURO.BO settled 20% higher after a report said lender Clix Capital Services was in merger talks with the bank.

(Reporting by Soumyajit Saha in Bengaluru; Editing by Vinay Dwivedi)

By Soumyajit Saha


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
COAL INDIA LIMITED 0.55% 175.05 Delayed Quote.28.53%
NXP SEMICONDUCTORS N.V. 0.18% 200.29 Delayed Quote.25.96%
RELIANCE INDUSTRIES LTD 2.28% 2661.05 Delayed Quote.31.05%
TATA CONSULTANCY SERVICES LTD. -0.30% 3482.6 Delayed Quote.22.01%
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Analyst Recommendations on COAL INDIA LIMITED
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Financials
Sales 2022 1 036 B 13 809 M 13 809 M
Net income 2022 160 B 2 138 M 2 138 M
Net cash 2022 155 B 2 064 M 2 064 M
P/E ratio 2022 6,97x
Yield 2022 9,35%
Capitalization 1 073 B 14 299 M 14 308 M
EV / Sales 2022 0,89x
EV / Sales 2023 0,82x
Nbr of Employees 259 016
Free-Float 33,9%
Chart COAL INDIA LIMITED
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Coal India Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends COAL INDIA LIMITED
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 174,10 INR
Average target price 190,57 INR
Spread / Average Target 9,46%
EPS Revisions
Managers and Directors
Pramod Agrawal Chairman & Managing Director
S. Ghatak Choudhary Chief Financial Officer
Samiran Dutta Finance Director & Director
Binay Dayal Director & Technical Director
M. Viswanathan Joint Secretary & Compliance Officer