Despite high price, Coal India aims to Woo Steel Cos

Volatility and the increase in global coking coal prices have burdened the steel industry but Coal India has planned for more coal e-auction by keeping its prices competitive. As per reports, recently, by global coking coal prices have exceeded USD 190 a tonne, and Coal India   has taken a decision not to increase its prices and recapture market share where the import of coal has risen.

Coking coal which is also known as metallurgical coal is used in order to make coke by getting rid of impurities to leave near pure carbon. It comprises a third of steel sector's total costs. A senior coal official is of the view that they are devising plans whereby they will channelize the coking coal variety towards the steel sector.

On 18^th Oct, Coal India share price rolled above 1 per cent. The stock opened at Rs. 311.90 as compared to its previous closing at Rs. 311.25. The stock touched the days high and low at Rs. 314 and Rs.311.90. Till now around 3,29,563 shares are traded in the counter with a traded value of Rs. 1,031.96, as per NSE.

The 52 week high of Coal India share price is observed at Rs. 349.95
on 17^th August ‘16 while the 52 week low is seen at Rs. 271.65 on 12^th April ‘16. The Average Daily Movement of the stock is 7.28 and its average volume for last 20 days is3408921. The stock yields -4.09 per cent monthly returns and has the PE ratio of 13.77. The market cap of the company amounts to Rs. 196596.84 (Cr) and has a book value of Rs. 53.67.

Coal India is analyzed by Dynamic Levels as the top 500 performing stocks for the June quarter among the 1700 stocks which are listed on the NSE.  Coal India is fundamentally strong and is safe for investment, as per Dynamic analysts

In order to know about the support and resistance levels of the scrip and also its fundamentals and financials, please a pay a visit to Coal India share price history.