Production and sales picked up for Coal India Ltd in October and November, after several months of decline, growing 15-27% on a month-on-month basis.
Comparatively, production and offtake during the first half of the fiscal year was impacted by the prolonged monsoon and flooding at some of the company’s mines. The dry weather conditions during the winter months should help Coal India keep up the production momentum.
However, the weather brings limited cheer to investors. The stock has gained 6% since 1 October, more or less similar to the rise in the Nifty 500 index. What gives?
