BUY! In AajKe2000, Anil Singhvi picks Coal India for huge gains ahead of Q4 results - Check reasons, targets here

Ahead of quarter four results, Zee Business Managing Editor Anil Singhvi in a special edition of the AajKe2000 show, gives a BUY recommendation for Coal India. The company is scheduled to release its Q4 results of the financial year 2021 on Monday, 14 June.

Moreover, Singhvi is also bullish on this stock because the company may increase the coal prices, as the prices of other commodities related to the steel sector, metals, and mining have also been hiked.

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The market guru sets three targets for Coal India of Rs 165, 168 and 172 per share with a stop-loss of Rs 157 per share which is today’s low. He, similarly, also suggests to buy the company’s 165 Call option which is at Rs 5 for a target of Rs 10, 12, and 15 with a stop-loss of Rs 2.

Coal India during Friday’s trade jumped over five per cent to touch a 52-week high of Rs 164.45 on the BSE in intraday amid expectations of strong Q4 earnings on Monday. The state-owned company’s stock had surpassed its previous high of Rs 162.95, touched on February 26, 2021.

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The stock has outperformed the market by gaining 12 per cent in the last two weeks, as compared to a 2.2 per cent rise in the S&P BSE Sensex. Similarly, a sharp rally has helped Coal India regain the market capitalisation of Rs 1 trillion with 4 per cent rise in the share price at Rs 163 in the early trade today, the data available on the BSE shows.

The PSU (public sector unit) company reported a strong offtake in dispatches, with volumes at 55.1 mt, registering a 37.6 per cent year-on-year (YoY) increase in May 2021. Coal’s offtake remains higher by 38 per cent YoY at 109.1 mt for the first two months of FY22.