Rs 24.50/Share Dividend: Maharatna Multibagger PSU To Mull Dividend, Buy For TP Rs 520

Large cap maharatna public sector undertaking (PSU) Coal India Ltd informed on April 17 about its upcoming meeting of Board of Directors scheduled to be held on May 2, 2024 to consider financial results and consider recommendation of final dividend for FY 2023-24. Last trading price of Coal India Ltd share on BSE is Rs 453.10 apiece with intraday rally of 0.49%.

The PSU announced highest dividend in in 5 years in 2023. Coal India share offers a high dividend yield of 5.41%. CIL share gave attractive returns of more than 100% in last 1-year span only. The PE of Coal India share is 17.94 and EPS (TTM) is 15.12. Check details below:

Coal India To Consider Final Dividend: As per the regulatory filing of the company dated April 17, 2024, "meeting of Board of Directors of the company will be held on Thursday, the 2nd May'2024 inter-alia to consider, approve and take on record Audited Financial Results of the Company (Standalone & Consolidated) for the 4th quarter and year ended 31st Mar' 2024 after the results are reviewed by the Audit Committee of the Board."

Further, pursuant to Regulation 29(1) of the Listing Regulations 2015, notice is also given that Board of Directors of the company may also, inter alia, consider recommendation of Final Dividend for FY 2023-24, if any subject to approval of shareholders in the ensuing AGM, added the BSE filing of Coal India.

CIL's Capex Up 6.5% To Highest Rs.19,840 Crores In FY 2024: Coal India's (CIL) capital expenditure as whole has risen by 6.5% on year to Rs.19,840 Crores ending FY 2024, the highest till date. Comparatively, the capex was Rs. 18,619 Crores in the preceding fiscal year. CIL achieved 120% target satisfaction over the Crores in the preceding fiscal year. CIL achieved 120% target satisfaction over the year's capex target of Rs. 16,500 Crores. For the fourth fiscal on sequence CIL's capex breached the budgeted target, according to the company's press release.

Coal India Dividend History: Coal India announced 26 dividends since February 18, 2011. In last 12 months, Coal India announced an equity dividend amounting to Rs 24.50 per share. At the current share price of Rs 453.10 per share, Coal India offers a dividend yield of 5.41%.

Coal India Technical: Score is 69.08 indicating Coal India is technically moderately strong. Stocks with score between 60 and 70 are considered as technically moderately strong. RSI stands at 57.4, RSI below 30 is considered oversold and above 70 overbought. MFI is 71.7, MFI above 70 is considered overbought. This implies that stock may show pullback. MACD is above its center and signal line, this is a bullish indicator. according to Trendlyne.

Buy Coal India Share: Morgan Stanley has assigned buy call to Coal India share with target price of Rs 480 per share while Jefferies has assigned buy call to the large cap PSU with price target of Rs 520 apiece.

Coal India Share Performance: The 52-week high price of Coal India share on BSE is Rs 487.75 per share (as on 16/02/2024) and 52-week low price is Rs 223.30 per share (as on 26/06/2023), respectively. Coal India has a market capitalisation of Rs 2,79,233. Coal India shares offered return of 142% return in last 2-years and 254% in last 3-years. Coal India stock jumped 80% in last 5-years and gained 56% in last 10-years.

Coal India Financials: The large cap PSU on February 12 declared its net profit at Rs 9093.69 crore, up 17.8% for the quarter ended December 31, 2023 as against Rs 7719.11 crore in the corresponding quarter of last year. The state-run company's revenue from operations gained 2.8% to Rs 36,153.97 crore for December 2023 quarter as compared to Rs 35,169.33 crore for the similar quarter of last year. The maharatna PSU's consolidated sales zoomed to Rs 38,357.23 crore for the Oct-December tenure as against Rs 36,754.29 crore in the same quarter of preceding fiscal, a jump of 4.4%. It also declared its 2nd interim dividend for the FY 2023-24 at Rs 5.25 per share. Dividend was paid on March 12, 2024.

About Coal India: CIL is a Maharatna company - a privileged status conferred by Government of India to select state owned enterprises in order to empower them to expand their operations and emerge as global giants. The select club has only ten members out of more than three hundred Central Public Sector Enterprises in th e country.

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