The Share Price Of Coal India Gained Over A Percent In Early Trade On November 13

The share price of Coal India gained over a percent in early trade on November 13 after the company posted a 14 percent rise in consolidated net profit at Rs 3,522.7 crore for the quarter ended September. Its net profit stood at Rs 3,084.54 crore in the year-ago period, the company said in a regulatory filing.

Coal India's total income, however, declined to Rs 22,012.94 crore in the July-September quarter of the financial year 2019-20 from Rs 23,486.35 crore in the corresponding period of previous fiscal.

Global research firm Citi has maintained a buy rating and has raised the target to Rs 270 from Rs 250 per share. However, it is of the view that volume weakness could persist for a few months. 

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