Rs 15.25/Share Dividend: PSU Stock To Trade Ex-Dividend, Buy With TP Of Rs 385

Shares of leading maharatna company Coal India will trade 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. Current market price of Coal India share on BSE is Rs 345.30 per share with intraday fall of 1.50%. Coal India shares gave return of 47% in last 1-year and offered a rally of 117% in last 2-years. Check details below:

Coal India To Trade Ex-Dividend On November 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: Current market price of Coal India stock on BSE is Rs 345.30 per share. Its 52-week high price is Rs 359.80 per share and 52-week low price is Rs 207.70 per share, respectively. The company has a market capitalisation of Rs 2,12,799.01 crore. Coal India shares gained 48% in last 3-months, soared 54% year-to-date, offered return of 47% in last 1-year, and gave return of 172% in last 3-years.

Coal India Valuation: Leading brokerage firm Jefferies India decided to upgrade Coal India stock from hold to buy with the target price of Rs 385 per share. The analyst highlighted India's strong economic growth outlook and rising power consumption as key reasons pushing higher demand for coal. This positive demand scenario is likely to contribute to healthy growth for Coal India in the coming years. If you buy Coal India shares now at the current price of Rs 345.30 per share, you can get potential return of 11.5%.

Meanwhile, Motilal Oswal Financial Services has also increased the target price on Coal India shares to Rs 380 per share as it assigns buy call to the stock. If you buy Coal India stock now, you can get likely upside of 10.05%.

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 Motilal Oswal and 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.