Coal India gains on plan to double its production to 1 billion tonnes by 2019

Coal India is currently trading at Rs. 355.50, up by 0.30 points or 0.08% from its previous closing of Rs. 355.20 on the BSE.

The scrip opened at Rs. 356.00 and has touched a high and low of Rs. 357.20 and Rs. 353.45 respectively. So far 85549 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 423.85 on 11-Jun-2014 and a 52 week low of Rs. 240.50 on 26-Feb-2014.

Last one week high and low of the scrip stood at Rs. 357.85 and Rs. 346.40 respectively. The current market cap of the company is Rs. 223915.12 crore.

The promoters holding in the company stood at 89.65 % while Institutions and Non-Institutions held 8.33 % and 2.02 % respectively.

State-miner Coal India (CIL) is looking to double its production to 1 billion tonnes in the next five years. The company, which is hopeful of producing about 500 million tonnes this year, is aiming to produce a billion tonnes in 2019.

The world’s largest coal miner by output, Coal India has reported provisional production of 44.42 million tonnes in November 2014, as against target of 45.69 million tonnes. The company’s total off-take for the month of November stood at 41.57 million tonnes as against a target of 43.20 million tonnes.

Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.

Buy Britannia, Colgate Palmolive: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "In FMCG space, Colgate Palmolive and Britannia Industries   are buying opportunities. None of them are day trades. If you are willing to buy now and wait for six months there is a lot of money and this market is rewarding investors not traders generally. Obviously everything goes but investing is the best opportunity here." At 11:18 hrs Britannia Industries was quoting at Rs 1,816.10, up Rs 71.05, or 4.07 percent. It has touched a 52-week high of Rs 1,825.

Godrej Industries may test Rs 315-320: Amit Gupta

Amit Gupta of ICICIdirect told CNBC-TV18, "There is some buying coming back into the consumer stocks whether you look at Hindustan Unilever , Titan Company  or Havells India , I think Godrej Industries   has remained a laggard for quite sometime now. It has been a total underperformer in the market but recently we have seen initial signs of some movement starting in the stock. If you look at the delivery pickup, it has been really good in the last couple of weeks. If you see the volumes which have picked up at Rs 280, now Rs 280 has been a very good level because if you draw a trend line from 2009 in the stock, that comes at Rs 280. It has not breached that trend line in the last five-six years." "At these levels if you look at the short covering, yesterday also there was little bit short covering, it has already panned out, so above Rs 291 because that was the level where very high volumes were seen on the higher side, there is a possibility that the stock may move towards Rs 315-320 kind of levels," he said. "Overall it is at a good base, it has already spent one and half months over here and because market is likely to consolidate, I think among these kind of stocks also they may start participating. So you can punt on this for another Rs 20-30 upside."

BSE Mid, Smallcap gain 1%; Sensex, Nifty consolidate

Activity in India's services sector expanded at its fastest rate in five months in November, driven by surging new orders as firms cut prices on tumbling raw material costs, a business survey showed on Wednesday. The outlook was clouded, however, by business confidence slumping to a more than seven-year low. The HSBC Services Purchasing Managers' Index (PMI), compiled by Markit, rose to 52.6 in November. Growth in October had stalled at 50, the level that demarcates growth from contraction. "Despite the uptick in order flows, business sentiment deteriorated, reminding us that continued policy action that addresses investor concerns is needed to sustain growth momentum," said Pranjul Bhandari, chief India economist at HSBC.