Shares of Coal India hit a 52-week high of Rs 164.45 as they rallied 5 per cent on the BSE in intra-day trade on Friday amid expectations of improvement in earnings going forward. The stock of the state-owned company surpassed its previous high of Rs 162.95, touched on February 26, 2021.
In the past two weeks, the stock has outperformed the market by gaining 12 per cent as compared to a 2.2 per cent rise in the S&P BSE Sensex. A sharp rally in the stock price has helped Coal India regain the market capitalisation of Rs 1 trillion. At 09:46 am, the stock was up 4 per cent at Rs 163, with a market capitalisation of Rs 1.01 trillion, the BSE data shows.
