Coal India rises after signing MoU Ministry of Railways

As per the MoU signed between the two, the wagons will be procured by railways on behalf of Coal India for exclusive use in the evacuation of coal traffic from the mines of Coal India.

Dec 24, 2015 06:12 IST India Infoline News Service

Coal India
Coal India gained 1% to Rs.323 on BSE. The company has signed MoU with Ministry of Railways. It will make a total investment of about Rs. 5,000 crore for wagon procurement. As per the MoU signed between the two, the wagons will be procured by railways on behalf of Coal India for exclusive use in the evacuation of coal traffic from the mines of Coal India.

The scrip opened at Rs. 325.1 and has touched a high and low of Rs. 328.4 and Rs. 323.4 respectively. So far 867642(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 203260.46 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. 300.75 on 29-Sep-2015. Last one week high and low of the scrip stood at Rs. 324.25 and Rs. 313.9 respectively.

The promoters holding in the company stood at 79.65 % while Institutions and Non-Institutions held 17.48 % and 2.87 % respectively.

The stock is currently trading above its 200 DMA.

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