Shares of Coal India hit a 52-week high of Rs 170, up 5 per cent on the BSE in Thursday’s intra-day trade on improved outlook. The stock of the country’s largest coal producer surpassed its previous high of Rs 164.90 touched on June 11, 2021. In the past one month, the stock has rallied 27 per cent, as compared to a 7 per cent rise in the S&P BSE Sensex.
India’s coal mining sector is dominated by Coal India and the scenario is unlikely to change in the immediate future. Even after the opening up of the coal sector to private commercial mining by the government of India, the proportion of coal supply from Coal India is likely to dominate the Indian market.
