back to top
HomeSTOCKSThis Government Stock, Which Has Doubled Investors' Money, Now Ready To Cross...

This Government Stock, Which Has Doubled Investors’ Money, Now Ready To Cross ₹500

Hot Stocks Alert Join

Maharatna PSU Stock to Buy: Coal India Ltd (NSE: COALINDIA) shares had a flat start on Wednesday (April 3). Movement is being seen in the stock. 

The company’s production momentum remains intact. In March 2024, 6 percent annual growth was recorded in production. 

Looking at the future outlook, brokerage firm is bullish on Maharatna PSU share Coal India and has advised to buy. This government stock, which has doubled investors’ money in a year, is ready to take another big leap.

Coal India Price To Reach Rs 500

Brokerage maintains a buy recommendation on Coal India. The target price per share is Rs 500.

The share closed at Rs 446.20 on April 3, 2024. In this way, there can be a significant rise of about 15 percent in the stock from the current price. 

Coal India has been a multibagger for investors. The stock has given more than 100 percent returns in the last year. 

The increase in the last six months has been more than 50%. At the same time, the stock has risen 17 percent so far this year.

Coal India: Brokerage Opinion

Brokerage says Coal India’s production in March stood at 89 MT (up 6% YoY), while offtake was recorded at 69 MT (up 7% YoY). Production in FY24 was recorded at 774 MT (up 10% YoY). 

Offtake during the same period was recorded at 754 MT (up 9% YoY). Coal India has set a target of production/offtake of 838 MT in FY25. It is an 8 percent increase every year.

Coal India has planned a capex of Rs 80,000 crore in the next 5 years. Also, the target is to achieve the target of more than 1 btpa. 

The company is expected to grow its revenue/EBITDA at 15%/16% CAGR during FY22–26E. The stock is recommended for purchase with a price target of Rs. 508/share.

Disclaimer: The information on this site is only for informational and educational purposes and shouldn’t be considered financial advice or stock recommendations. We are here to provide timely updates about the stock market and financial products to help you make better investment choices.



Please enter your comment!
Please enter your name here