Volume growth outlook remains robust

Company
06 Sep 2024
5 Min read 
  • Alok Deora Sonu Upadhyay recommends buying BSE SENSEX S&P CNX at INR 497 with a target price of INR 600, indicating a 21% increase.
  •  Coal India's financial snapshot shows a 12M average value of INR 5688 million and a free float of 36.9%.
  •  The company aims to achieve a 8% CAGR in production volume over FY24-26.
  •  Coal India's e-auction volume is expected to improve, leading to better overall realization.
  •  The company has intensified capex to improve evacuation infrastructure and plans to diversify into renewable energy facilities and coal gasification.
  •  The stock is trading at 4.7x FY26E EV/EBITDA, and the recommendation is to buy with a target price of INR 600/share.
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