Shares of Coal India dropped 2% in early trade on Tuesday, July 28, after most global brokerages cut target prices on the stock after the state-run coal miner announced April-June quarter results for fiscal 2026-27 (Q1FY27). The Kolkata-headquartered PSU missed most June quarter earnings estimates by global brokerages. Jefferies emerged as the only firm that still holds a bullish view on the stock. Coal India's net profit was flat in the quarter-under-review, while revenue rose 8% year-on-year.
On Tuesday, shares of Coal India opened at Rs 422.90 against a previous close of Rs 427.50 and extended losses by upto 3% hitting an intraday low of Rs 417.50 apiece on the NSE. The stock last traded 3.06% lower at Rs 414.40 apiece on the NSE. This compares to a 0.01% rise in the Nifty 50 benchmark. The PSU stock has dropped 4% in one month, 4.52% on a year-to-date basis, and 11% in the last one year. The company commands a market cap of Rs 2,55,321.83 crore.
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