Thursday 16 February 2017

Buy Coal India; target of Rs 360


Coal India's (CIL) Q3FY17 EBITDA, at INR 38.5bn, was marginally below consensus due to INR 7.1bn wage cost provision, though revenue came in line. However, volume grew 4% YoY (23% QoQ) to 143mt with e-auction proportion rising to the highest-ever level of 17.7% (up 66% YoY) to 25.5mt.

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