Stock Market Today: Coal India share price remains in focus on Tuesday as the stock turns ex-dividend today. Tuesday, 5th November’24 stood as the “Record Date” for the fist interim dividend of ₹15.75 for financial year 2024-25
Coal India share price opened at ₹429.70 on the BSE on Tuesday , 1% higher than the previous close of ₹427.65. Coal India share price thereafter went to hit highs of ₹432 marking gains of more than 1% during the morning trades on Tuesday.
Board of Directors of Coal India at its meeting held on 25 October 2024 had declared 1st Interim Dividend for the financial year 2024-25 at ₹Rs.15.75 per share on the face value of ₹10 per share.
Coal India has fixed Tuesday, 5th Nov’24 as the “Record Date” for the purpose of declaration of 1st Interim Dividend on equity shares for the Financial year 2024-25.
The date of payment of “1st Interim Dividend” for FY 2024-25 shall be by 24th Nov’ 2024 as per Coal India release.
Coal India had reported strong volume growth in the month of October '2024. While Coal India production at 62.5 Million tonne (mt) was 2.5% higher. The growth figures encouraged as July to September period impacted by monsoon had seen softer production growth. During the Q2Fy25 Coal India production at 152.06 mt was slightly lower than 157.43 mt seen in the year ago quarter.
For the April- October period Coal India production at 403.80 MT still is up 2.5% year on year.
For Coal India 2QFY25 net sales at 27,271.30 crore came lower than ₹29,978.01 crore in the eyar ago quarter. The Net profit at ₹6275 crore also declined from ₹8,048.64 crore in the year ago quarter impacted by lower offtakes and lower e-auction volumes.
Analysts however maintain positive outlook . Those at Motilal Oswal Financial Services said that “2Q performance was weak as overall volumes were affected by monsoon and costs remained high. A lower proportion of e-auction volumes also affected profitability” . MOFSL however has maintaind its estimates and expect volumes to improve, which would boost earnings performance. The e-auction premium is expected to remain stable ahead as per MOFSL
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