Tuesday, May 21, 2013

Coal India shares jump as Q4 profit soars 90 per cent

Mumbai,May 21, 2013 :--

Coal India Ltd (CIL) jumped over 2 per cent on the bourses on Tuesday after the company reported a 90 per cent jump in standalone net profit for the fourth quarter ended March 31.

The PSU on Monday reported a standalone net profit of Rs 2,320.61 crore for the January-March quarter, a jump of 90 per cent from Rs 1,223.52 crore reported in the corresponding quarter of FY12.

The world\'s largest coal producer saw its shares makes a bullish opening, before they rose further by 2.57 per cent to Rs 308.50 on the Bombay Stock Exchange. At the National Stock Exchange, the scrip went up by 2.43 per cent to Rs 308.65.

The stock was the top gainer among both Sensex and Nifty stocks during morning trade.

In the stock market, the BSE Sensex was trading at 20,164.36, down 50.50 points in afternoon trade.

News From: http://www.7StarNews.com

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