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New Delhi: (Coal India News) Maharatna PSU Coal India Ltd shares traded close to 3% lower on the stock exchange on Thursday as the Maharatna reported a 16.3% decline in consolidated net profit for the September quarter. The CIL Q2 results were announced Wednesday which had the massive the contractual expenses that jumped sharply by about Rs 1,000 crore to Rs 3,311 crore in three months ended on September 30, 2020. Coal India stock ended 2.94 percent lower at Rs 122.20 at the BSE. During the day, it was down 3.85 percent to Rs 121.05. On the NSE, CIL shares declined 2.97 percent to close at Rs 122.10.
On the traded volume front, 15.40 lakh shares were traded at the BSE and over 3.57 crore units at the NSE on Thursday.
At 9:54 am, Coal India shares were down 3.02 per cent at Rs 122.10, while benchmark Sensex traded 0.51 per cent lower at 43,371.52 points.
In the hay days, Coal India shares had hit a record high of Rs 447.1 in August 2015, though now the stocks are down 73 percent from those levels. The CIL shares saw lowest ever at Rs 109.50 on October 15 this year.
Since last five quarters FIIs have been reducing their holding in the company. Currently, FIIs hold 7.19 per cent stake in CIL, compared to 8.96 percent at the end of June 2019 quarter.
On Wednesday evening after the market hours, Coal India had posted 16.31 percent year-on-year (YoY) fall in consolidated net profit at Rs 2,948.12 crore for the quarter. The board also approved an interim dividend of Rs 7.50 per share.
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