Coal India Up On Proposal Of Share Buyback

Indian state-controlled coal mining company Coal India Limited has said, it will consider a share-buyback proposal in its meeting scheduled on next Monday. The buyback constitutes the fully-paid equity shares of the company having a face value of Rs10 each.

As announced by the company on Wednesday, the trading window remain closed from 30-January, till the closing stages of 48 hours after the BoD’s decision concerning buyback of shares or any other related matters is made public on February 4.

Coal India share price is expected to rise through the week ahead, in view of buy back.  However, as the initial start, today through the mid-noon hours of trade Coal India is demonstrating equally up both on the NSE and BSE.   It share price currently (at 12:22 hours) quoted at Rs. 226.50 up 0.47 percent on both the exchanges, with the uptrend in the benchmarks with Sensex rising 374 points and Nifty50 gaining 94 points.

The current market capitalization (M-Cap) of the company is Rs 1,40,535.74 crore.