Shares of Coal India erased opening gains to trade lower on the BSE in the morning trade. The company on Tuesday reported a 14% yoy decline in consolidated net profit for the December quarter at Rs3,921.8cr.
The net sales of the company stood at Rs21,566.41cr during the quarter under review as against Rs23,385.43cr in the corresponding period a year ago.
Meanwhile, brokerage firm Jefferies has maintained a buy rating on the stock but cut target to Rs255 from Rs265 per share.
Coal India Ltd is currently trading at Rs179.35 down by Rs0 or 0% from its previous closing of Rs179.35 on the BSE.
The scrip opened at Rs180.70 and has touched a high and low of Rs183.30 and Rs178.20 respectively.
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