Coal India OFS opened for retail investors today, after receiving an overwhelming response from institutional investors on Thursday as the government’s 1.5% stake divestment in the coal PSU garnered 3.46 times the bids. However, despite the positive response to the OFS, the secondary markets demonstrated their disappointment, as Coal India shares tanked 4.4% in trade to close at Rs 230 apiece yesterday. Today, Coal India share price fell 0.8% intraday to lows of Rs 228.1 on the NSE. Should retail investors subscribe to the Coal India OFS?
Coal India OFS: Buy
Analysts are unanimously bullish on Coal India shares, recommending that investors place bids for the coal mining PSU. “We remain positive on the company’s prospects from a medium-to-long term perspective.
