Coal India dividend: Today Coal India will announce its result for the March quarter. According to the information received from the sources, additional dividend can also be announced.
The company can announce a dividend of Rs 2.5 per share today.
Coal India dividend: Coal India Limited, the world’s largest coal mining company, will announce the result for the March quarter today. The board of directors of the company will also meet today. It is believed that today additional dividend can be announced by the Coal India Board. The company had earlier declared two interim dividends of Rs 7.5 and Rs 5 per share of Rs 10 each.
If the additional dividend is announced in the board meeting today, it will be the third announcement for the financial year 2020-21. Sources indicated that the final part of the dividend could be Rs 2-2.5 per share. In this way the total dividend can be up to less than Rs 15 per share. The government will benefit the most from this because its shareholding in the company is 66.13 percent. The same analysts estimate that the fourth quarter results of Coal India may remain weak.
Its share reached the level of Rs 163
Coal India’s stock closed at Rs 162.65 this week. At present it is close to its 52-week high. The 52-week high is Rs 165 and the low is Rs 109.55. The market cap of the company is Rs 100236 crores. The government’s stake in the company is 66.13 percent. Mutual funds have reduced their stake in the March quarter. Their stake has come down from 9.46 per cent to 9.34 per cent.
How far can the share price of Coal India reach?
Edelweiss Securities has advised Coal India investors to stay in it. It estimates that its share can reach the level of Rs 186. Motilal Oswal has estimated its share to reach Rs 180. According to Reliance Securities, this share can reach up to Rs 185.
Two dividends have already been announced
In today’s meeting, the company will also announce the results of the fourth quarter of Finance 2020-21. Though CIL failed to meet the targeted production and offtake targets for FY21, it has exceeded the revised capital expenditure target of Rs 13,000 crore. “The board will try to declare a part of the dividend more. This will be less than the two interim dividends announced earlier.
Initially target 10 thousand crores
On achieving the target of capital expenditure, sources said, “Initially the target was ten thousand crores but due to the COVID 19 epidemic, the economy was put under pressure and the government asked to raise funds to support the economy. We have increased the capital expenditure target to Rs 13,000 crore and have already exceeded it.” is.
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