Nuvama upgrades Coal India to Buy, raises target price
pre-market1 source ↓written by the desknot a recommendation
- rise in offtake
- 12.5% YoY
- in September 2026
- 61.2 million tonnes
- EBITDA estimates
- 6%
- respectively
- 4%
Nuvama Institutional Equities upgraded Coal India to Buy from Hold, increasing the target price to ₹501 from ₹454. This follows a 12.5% YoY rise in offtake to 61.2 million tonnes in September 2026, driven by strong power demand and low coal inventories. The brokerage also raised FY27/FY28 EBITDA estimates by 6% and 4% respectively, citing favorable conditions for continued growth.
Not investment advice. For informational purposes only.