Coal India shares gain 4% as August coal supplies rise 5.5% YoY

Coal India shares gain 4% as August coal supplies rise 5.5% YoY: Buy, Sell or Hold?

Coal India shares rose on Wednesday after the state-run miner reported a 5.5% YoY rise in August coal supplies. Strong April-August volumes, lower pithead inventories and improving e-auction premiums lifted sentiment. Nuvama upgraded the stock to Hold and raised its target price to Rs 454, citing recovery potential.