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Coal India Share Price Target 2023: Stock Up Nearly 40 Percent in 180 Days, Analysts See 18 Percent More Upside Potential in PSU

Coal India Share Price Target 2023: The surge in Coal India share price followed the public sector coal mining giant’s impressive Q2 results and subsequent favorable ratings by market analysts.

Paras Bisht

Updated Nov 23, 2023, 09:46 IST

Coal India Share Price Target 2023: Stock Up Nearly 40 Percent in 180 Days, Analysts See 18 Percent More Upside Potential

Coal India Share Price Target 2023, Coal India Share Price NSE, BSE: Coal India share price has delivered 38.61 per cent returns in the last 180 days, as per National Stock Exchange (NSE) data, making investors richer with massive gains. The counter has multiplied investors wealth by 112.26 per cent returns in the last two years, while the scrip has given 170.21 per cent returns in the last three years.

Coal India Share Price Target 2023

ICICI Securities maintained 'BUY rating on the stock of the state-owned firm with a share price target of Rs 395, an upside potential of 18 per cent from the current market level.

The PSU is planning to set up 3,000MW of renewable power capacity by FY26 to become net zero. Besides, the company is setting up thermal power plants of 660MW and 1,600MW in MP and Odisha, respectively. Work has been awarded for execution of 279MW SPV solar projects at different subsidiaries with 100MW power plant in Gujarat. As these projects entail significant

investments, we will keep a close tab on their progress.

The domestic brokerage also highlighted the key risks to business model which includes dip in e-auction prices and power demand surge leading to insufficient volumes left for NRS.

"In our view, rising e-auction premium (currently at 90%) and focus on volume growth bode well for CIL; however, investments in diversification projects and their capital returns have to be closely tracked," the report added.

Coal India Share Price

At the time of filing this report, the stock was trading at Rs 331.65 a share on the NSE, down by 0.15 per cent intraday. It's 52-week range is Rs 359 - Rs 207.60.

Coal India Limited's (CIL) shares hit a 52-week peak, signaling a robust financial performance and glowing endorsements from top brokerage firms. The surge followed the public sector coal mining giant’s impressive Q2 results and subsequent favorable ratings by market analysts.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. Times Now Digital suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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