Coal India Shares Surge Over 3% as Q4 Profit Rises 11%

Business: Shares of state-owned mining giant Coal India witnessed a strong rally on Tuesday, climbing over 3% after the company reported a solid performance for the March quarter. The upbeat earnings triggered positive investor sentiment, leading to increased buying activity in the stock.

On the BSE, the stock settled at ₹466.95, marking a gain of 3.10%. During intraday trading, it surged as much as 4.63% to touch ₹473.90. Similarly, on the NSE, the stock ended 3.20% higher at ₹467, after hitting a high of ₹473.90 during the session.

Trading volumes remained robust throughout the day, with around 18.44 lakh shares exchanged on the BSE, while the NSE recorded a significantly higher volume of 267.32 lakh shares. This indicates strong market participation and investor confidence in the stock.

The company reported an 11.1% year-on-year increase in its consolidated net profit, which rose to ₹10,839.18 crore in the fourth quarter. The growth was primarily driven by higher revenue, reflecting improved operational performance.

Market experts believe that sustained demand and strong financial results could continue to support positive momentum in the stock in the near term.