Coal India shares decline over 3% - Is this right time to buy this PSU stock? Check share price target by Morgan Stanley, Jefferies

Coal India Share Price Target: State-owned major coal mining and producing company Coal India Ltd opened gap down with a loss of 3.38 per cent as equity benchmark indices tanked in early trade on Monday. The counter opened at Rs 440.20, down by over 3 per cent from the last trading price of Rs 455.60 on the BSE. Also, the mining & minerals sector has fallen by 2.13 per cent today.

The stock of the mining company, which has a market cap of Rs 2,79,387, has a 52-week high of Rs 487.75 and a 52-week low of Rs 223.30. The stock has been losing for the last two days. Last seen, the counter was trading at Rs 453.75.

Morgan Stanley India on Caol India Share Price Target

Caol India CMP - Rs 453.75

Coal India Share Price Target - Rs  480

Coal India Share Price Target by Jefferies

The brokerage has continued with its buy call on Coal India Ltd (CIL) with a target price of Rs 520. The target implies an upside potential of over 16 per cent from current levels.

Coal India Share Price History

The shares of Coal India have surged over 100 per cent in one year and 142 per cent in two years. The counter has given a multibagger return of 252 per cent in three years.

Meanwhile, Sensex tumbled 929.74 points, amid the ongoing conflict in the Middle East and weak trends from global markets. Foreign fund outflows and hotter-than-expected US inflation data also played spoilsport for the markets.

Extending its previous day's decline, the 30-share BSE Sensex tanked 929.74 points to 73,315.16. The NSE Nifty declined 216.9 points to 22,302.50.