Nuvama upgrades Coal India to Buy, raises target on auction premiums
In short
Nuvama has upgraded Coal India to Buy and set a ₹501 target price. The report says Coal India is seeing stronger e-auction premiums and volumes, and September offtake rose 12.5%.
This may support the stock if demand stays strong, but the report does not give the previous target price or say how Coal India management views the call.
What the reporting says
Nuvama upgraded Coal India to Buy and raised its target price to ₹501 after noting stronger e-auction premiums and volumes, with September offtake up 12.5%, according to a publisher summary. The report links the call to strong demand and low coal inventories. It does not provide the earlier target price or say whether Coal India has responded.
Why it matters
Nuvama’s upgrade of Coal India to Buy is tied to stronger e-auction premiums, higher volumes and a September offtake rise of 12.5%, according to the reporting. The brokerage cited strong demand and low coal inventories as reasons for the higher target price of ₹501. The report does not disclose the prior target or any company reaction.