Thursday 10 March 2016

Coal India strike; PSU management to meet Unions next week

The proposed strike on March 29 is likely to hit the production of the coal behemoth, says a report

Coal India Ltd stock was up by 1% at Rs. 324. Report says that the company management is likely to meet the protesting unions next week over the issue.

The proposed strike on March 29 is likely to hit the production of the coal behemoth, says a report.

Coal IndiaLast month, the government had stated that four central trade unions (CTUs) of the coal sector had given notice to go on strike, says report.

The scrip opened at Rs. 326.6 and has touched a high and low of Rs. 326.6 and Rs. 323.65 respectively. So far 501615(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 203702.61 crore.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 447.25 on 05-Aug-2015 and a 52 week low of Rs. 286.9 on 21-Jan-2016. Last one week high and low of the scrip stood at Rs. 334 and Rs. 310.4 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.44 % and 2.91 % respectively.

The stock is currently trading below its 200 DMA.

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