Coal India share price: Top 5 reasons to buy this stock
Coal India Limited strong Q4FY19 results are enough to indicate strong fundamentals of the counter.
On account of robust Q4FY19 results of the Coal India Limited, the counter showed around 0.38 per cent growth at Dalal Street on Friday and the stock market experts are still bullish about the counter and are predicting it to touch Rs 320 per stock levels. As per Zee Business TV report, fourth-quarter results of the Coal India Limited has indicated that the PSU is in full swing and it has traversed beyond those days when ti was unable to meet its targets.
Here are the top 5 reasons that would attract stock market investors to invest in this stock:
1] CIL registered record operating profit of Rs 6,024 crore in Q4FY19;
2] CIL e-auction registered 30 per cent growth in the quarter ended March 31, 2019;
3] CIL's FSA rose 40 per cent in the fourth quarterly results of 2019 fiscal;
4] All seven subsidiaries of CIL have registered growth, which is a record; and
5] Coal India Limited's largest coal field South Eastern Coal Field Limited registered record production of 15 crore ton coal.
The above-mentioned reasons are enough to indicate the strong fundamentals while on the technical front, the CIL counter has around 9 re-multiple that indicated further bullish trend at Dalal Street.