Coal India up in the green

Coal India is the top gainer on the BSE, up over 3.5% with an intra day high at 329.30. Its 52-week high stands at Rs.386. Volumes are pretty robust at almost 2 lakh shares.

Yesterday, after trading hours, the company’s Board approved rationalization of coal prices with effect from today, 28^th May’13. This is very good news for the stock as it means that the company will be able to get an additional revenue  of Rs.2511 crore and for the current fiscal, the additional revenue will come in to the tune of Rs.2119 crore.