Stock To Buy: Jefferies Upgrades PSU Mining Stock TP To Rs 385, Recommends Buy Call

Leading US based brokerage Jefferies has recommended buy call to Maharatna stock Coal India with target price of Rs 385 per share. Current market price of Coal India BSE is Rs 332.05 apiece with intraday fall of 0.61%. Shares of Coal India traded ex-dividend on November 21, 2023.

Coal India on November 10 declared first interim dividend of Rs 15.25 per share for the financial year 2023-24 on the face value of Rs 10/- each. Coal India shares delivered return of 120% in last 2-years and gained 44% in last 3-months. Check details below:

Coal India Shares Traded Ex-Dividend On Nov 21: According to the BSE filing issued on November 10, "the Board of Directors at its meeting held on date has inter alia, declared 1st Interim Dividend for the financial year 2023-24 @ Rs. 15.25/- per share on the face value of Rs 10/- as recommended by the Audit Committee of CIL at its meeting held on date. The company has fixed Tuesday, 21st Nov' 2023 as the "Record Date" for the purpose of declaration of 1st Interim Dividend on equity shares for the Financial year 2023-24. The date of payment of "1st Interim Dividend" for FY 2023-24 shall be by 9th Dec' 2023."

Coal India Stock Performance & Return: The stock's 52-week high price is Rs 359.80 per share and 52-week low price is Rs 207.70 per share. Its market capitalisation is Rs 2,04,633.39 crore. Coal India stock gave return of 47% YTD, gave return of 45% in last 1-year, and soared 173% in last 3-years.

Valuation: According to the analyst, "Despite the 45% rally in the last 3 months, Coal India is trading at a reasonable 6.6X FY25E PE. Our price target of Rs 385 implies TSR (total stock return) of 23% including 7% dividend yield."

About Coal India: CIL is a Maharatna company - a privileged status conferred by Government of India to select state owned enterprises in order to empower them to expand their operations and emerge as global giants. The select club has only ten members out of more than three hundred Central Public Sector Enterprises in the country.

Disclaimer: The stock has been picked from the brokerage report of Jefferies. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.