Coal India - Plenty Of Steam Left: ICICI Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.Despite the impressive run-up (~37% in the past three months), we believe that there is still room for a 25% upside for Coal India Ltd.’s stock price performance. Key points:Production volume likely to be aided by South Eastern Coal Fields Ltd.Demand from power sector likely to stay firm.Record imports by China, amidst looming winter-heating season, likely to aid e-auction prices.E-auction volumes and linkage materialisation to stay elevated, aiding profitability. Taking cognisance of the recent uptick in international coal prices and robust six months-FY24 operating performance, we raise our multiple to eight times (from 7.2 times) corresponding to two deviations above its past five-year trading range. Our revised target price works out to Rs 395 (earlier Rs 325). We retain 'Buy' on the stock. Our view is also based on a sustainable dividend yield of 9% through to FY25E..Click on the attachment to read the full report:.TVS Motor Enters Venezuela Market With 14 Products.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Coal India - Plenty Of Steam Left: ICICI Securities

Robust operating performance; favourable macros.

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