Rs 5 dividend stock: Brokerages bullish on this PSU stock - Check targets

Coal India Share Price Target, Coal India Dividend: The shares of Coal India surged over 3 per cent as equity benchmark indices climbed in early trade on Friday, following a positive trend from the US markets. The 30-share BSE Sensex jumped 470.92 points to 75,082.03 in early trade. The NSE Nifty climbed 139.5 points to hit a record peak of 22,787.70.

The counter opened in green at Rs 458.45 and gained around 3.67 per cent to hit the day's high of Rs 469.90. The scrip had closed at Rs 453.25 in the last trading session. Last seen, the shares of Coal India held firmly in green and were trading at 468.45.

The shares of the PSU company, which has a market of Rs 2,87,491 crore, have a 52-week high of Rs 487.75 and a 52-week low of Rs 223.30. The scrip is trading higher than the 5-day, 20-day, 50-day, 100-day and 200-day moving averages.

Coal India Share Price Target by Jefferies

Brokerage firm Jefferies has maintained a 'buy' call with a target of Rs 520.

Coal India Share Price Target by CLSA

Maintain Outperform

Target - Rs 480

Coal India Share Price Target by Citi

The brokerage firm has maintained a neutral rating but has raised the target to Rs 460 from Rs 430.

Coal India Dividend 2024

State-owned Coal India Ltd (CIL) on Thursday (May 2) reported a 25.8% year-on-year (YoY) increase in net profit at ₹8,640.5 crore for the fourth quarter that ended March 31, 2024.

The board of directors of the state-owned Coal India Ltd has recommended a final dividend for the financial year 2023-24 at Rs 5 per equity share of the face value of Rs 10. 

This was in addition to the interim dividend of Rs 20.50 per share Coal India had already paid earlier in the fiscal. It has a high dividend yield of 5.42 per cent at the current price.