Shares of Bharat Coking Coal rose 5.15% to ₹31.29 on Monday after the Coal India subsidiary swung back to profit in the September quarter, The Economic Times reported.
The quarter in numbers
- Net profit: ₹123.7 crore in Q2 FY27, against a loss of ₹53 crore a year earlier.
- Revenue from operations: up 39% to ₹4,412.58 crore, from ₹3,173.25 crore.
- Production: 7.22 million tonnes, up from 6.71 million tonnes a year earlier and 6.56 million tonnes in the June quarter.
- Coal offtake: 8.89 million tonnes, up from 8.11 million tonnes a year earlier and 7.72 million tonnes in the June quarter.
The weaker half-year
The first half of the year looks less rosy. Production for April to September fell to 13.78 million tonnes from 15.75 million tonnes a year earlier, and offtake slipped to 16.61 million tonnes from 17.05 million tonnes.
What the stock charts show
Even after Monday's rise, the shares are down about 11% over three months and well below their 52-week high of ₹45.09. The company is valued at ₹14,525 crore.
- Foreign institutional investors cut their holding to 0.06% in the September quarter from 0.38% in the June quarter, and mutual funds to 0.30% from 0.37%.
- The stock's daily Relative Strength Index stood at 33.5, according to Trendlyne data. A reading below 30 is generally seen as oversold.
- It was trading below all seven of its simple moving averages, a sign of continued weakness.
This article is for information only and is not investment advice.