Coal India at 5-year high on dividend optimism, strong operational metrics

MUMBAI – Shares of Coal India surged to their highest level in nearly five years on Tuesday on prospects of an all-time high dividend in the current fiscal amid robust sales volumes and improved pricing in e-auctions.

Shares of the country’s largest miner closed over 5% higher at 303.25 rupees, and were the best performers on the Nifty 50, which itself ended with a near 1% gain. The shares are up by almost a third in three months, and experts believe there is further steam for the rally to continue in the near term.