Coal India surges over 5% on better-than-expected Q4

Posted By: Religare
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Shares of state-controlled Coal India rallied over 5 per cent in early trade on Bombay Stock Exchange (BSE) after posting better-than-expected fourth quarter earnings number.

The world's largest coal producer has reported 35 per cent year-on-year (yoy) jump in its consolidated net profit at Rs 5,413 crore for the fourth quarter ended March 31, 2013 on back of higher than expected sales volumes.

Cheering the numbers, shares of company gained as much as 5.03 per cent to trade at Rs 329.30 a piece on the BSE.

In a similar fashion, shares of the company were trading at 323.90 a piece, up 3.22 per cent on the National Stock Exchange (NSE).

Meanwhile, the broader benchmark Sensex was quoting at 20,093.18, up 62.41 points or 0.31 per cent at 9:38 hours.

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