Shares of Coal India were under pressure for the second straight session on Tuesday, slipping 4 per cent on BSE to 441.35. The stock is now down 8 per cent in two days on profit booking following management’s comments that e-auction premiums have declined in the current quarter.
The company reportedly told analysts that e-auction premiums dropped to 48-50 per cent in January 2024 and 38 percent in February 2024.
With today’s decline, the stock of the state-owned company has corrected nearly 10 per cent from its record high level of Rs 487.75 touched in Friday’s intra-day trade.
