Coal India rises on dividend hopes

Reuters Updated - January 19, 2018 at 11:26 PM.

Shares of Coal India jumped as much as 3.75 per cent and was the among top percentage gainers on BSE index.

Traders expect a dividend of Rs 20 per share after NMDC Ltd declared its first interim dividend on Friday.

The world’s biggest coal miner by output had on Thursday reported a higher-than-expected 14 per cent rise in consolidated quarterly net profit on higher sales.

State-run Coal India may also sign long-term contracts with steel companies to supply medium-grade coking coal, according to Coal Secretary Anil Swarup.

The stock is one of the top gainers on S&P BSE-PSU index, which is up 3.6 per cent.

Published on February 15, 2016 05:55