Top Gainer on Nifty, Coal India share price soars nearly 4 per cent! Check what Edelweiss suggests
Edelweiss says that Mar-21 operating numbers reported by Coal India are a mixed bag. Edelweiss says that Coal India sales volume grew after three successive months of decline owing to a low base and improved traction from power plants. That said, receivables swelled further to Rs 250 bn (at February-21 end). Besides, a sharp uptick in inventory is expected to worsen cash accretion
Despite a likely improvement in sales volume going ahead, Edelweiss expects cash accretion to be a major concern considering the escalation in working capital: Reuters