Coal India's Share Price Hits Four-Year High
The market capitalization of CIL has also increased to Rs 1,68,858.76 crores, from Rs 1,31,666.69 crores as on March 31, 2023.
![Coal India's Share Price Hits Four-Year High](https://www.psuconnect.in/sdsdsd/Coal_India_Share_Price_Hits_Four_Year_High.jpg)
Representational Image
New Delhi: The share price of Coal India Limited (CIL) closed at Rs 274 on the stock market on September 7, 2023, a surge of 7.07% from the previous day's close of Rs 255.9. This is the highest the share price has been in four years.
The market capitalization of CIL has also increased to Rs 1,68,858.76 crores, from Rs 1,31,666.69 crores as on March 31, 2023.
Read Also : R.K. Chaudhary, CMD, NHPC met Chowna Mein, Hon’ble Dy. CM, Arunachal PradeshThere are a few factors that could be contributing to the surge in CIL's share price. One possibility is that investors are betting on the company's strong fundamentals.
CIL is the world's largest coal producer and has a dominant market share in India. The company is also expected to benefit from the government's plans to increase investment in the coal sector.
Read Also : State Coal Minister inaugurates new solar plant at CCL’s Piparwar AreaAnother possibility is that investors are reacting to the recent improvement in CIL's financial performance. The company reported a profit of Rs 4,456 crore for the quarter ended June 2023, compared to a loss of Rs 2,654 crore in the same quarter last year.
The surge in CIL's share price is positive news for the company and its investors. It also shows that the market is bullish on the coal sector. However, it is important to note that the stock market is volatile and the share price could fluctuate in the near future.
Read Also : WAPCOS CMD met Safarzoda Manuchehr Bakhodur Hon’ble Deputy Minister of Energy and Water ResourcesNews Must Read
- Petroleum Minister Hardeep S Puri Highlights India’s Bioenergy Progress
- NBCC bags orders worth Rs. 182.50 Crore
- OMCs increases price of 19 kg commercial LPG cylinder by Rs 39
- HUDCO Issues Record Date For Dividend, Shares Rise 118% YTD
- NTPC Bongaigaon to Support TB Eradication Efforts; Partners with District Administration, Kokrajhar
- Solar Energy Corporation of India Ltd (SECI) attains Navratna Status
- Dr D K Sunil Takes Over as CMD (Additional Charge) of HAL
- DVC bags Champions Trophy for Corporate Sustainability at XLRI, Jamshedpur
- Minister Pralhad Joshi Visits IREDA Office, Reviews Company’s Strategic Growth Plan
- HAL Selects SAFHAL Helicopter Engines to Develop and Produce ‘Aravalli’ Engines