BUSINESS OUTLOOK IMPROVING FOR COAL INDIA

Coal India stock has been range-bound for four months, but the trend could reverse. Edelweiss says, the coal mining major’s August offtake was up 9% YOY, while fiscal YTD figure is up an impressive 24.8% partially due to lower base. Apart from sustained volume uptick, reducing inventories and receivables, and improving premium for e-auction coal are other positives.