Coal India regaining investor confidence; delay in stake sale plan may help

Coal India (CIL) shares have risen about 11 per cent in a month, outperforming the 2.5 per cent rise by the S&P BSE Sensex.  Given the improving outlook on the business front and reasonable stock valuations, analysts believe there are more gains ahead. Better realisations for coal supplied under fuel supply agreements (FSAs; largely to power sector) and improving volumes as well as prices of e-auction coal (which is more profitable), both point to strong outlook for the company.  Analysts say the fourth tranche of linkage auction, which was conducted recently, has s.....

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