Shares in Coal India slumped more than 3.5 per cent, despite the company declaring a decent dividend of Rs 7.50 per share. The fall in the shares of Coal India had largely to do with the fall in net profits for the quarter ending Sept 30, 2020.
The State-run company reported a 16% decline in consolidated net profit for the quarter ending 30 September, 2020 at Rs 2,952 crore. It was Rs 3,523 crore in the year-ago period.
Coal India has fixed November 20 as the record date for payment of dividend, while the date for interim payment of dividend is November 27, 2020.
The shares of Coal India were last seen trading at Rs121.70 on the National Stock Exchange.