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Coal India’s August-September production hit due to heavy rains
As per NC Jha, Chairman, Coal India, the company’s August and September production
was lower than its target on account of heavy rains. The production was lower in its fully
owned subsidiaries, Eastern Coalfields and Bharat Coking Coal. Nevertheless, the
company maintained its production target at 452mn tonnes for FY2012. We maintain our
production volumes estimate at 455mn tonnes and sales volumes estimate at 458mn
tonnes for FY2012. We continue to maintain our Neutral rating on the stock.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Coal India’s August-September production hit due to heavy rains
As per NC Jha, Chairman, Coal India, the company’s August and September production
was lower than its target on account of heavy rains. The production was lower in its fully
owned subsidiaries, Eastern Coalfields and Bharat Coking Coal. Nevertheless, the
company maintained its production target at 452mn tonnes for FY2012. We maintain our
production volumes estimate at 455mn tonnes and sales volumes estimate at 458mn
tonnes for FY2012. We continue to maintain our Neutral rating on the stock.
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