Coal India has rebounded more than 5 per cent from its lows, seen at start of the month. Though this has been helped by a strong interim dividend of Rs 7.25 a share, concerns on fundamentals remain.
While softening international coal prices could put pressure on more profitable e-auction premiums, tepid volume growth could weigh on e-auction volumes. Coal India had reported sales volume growth of 6.5 per cent during the April to November period. Despite severe shortage of coal, analysts expect growth in the August-December period to be a mere 1 per cent, led by improved demand ...
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