Coal India Ltd.

Coal India is currently trading at Rs 303.75, up by 1.45 points or 0.48% from its previous closing of Rs 302.30 on the BSE.

The scrip opened at Rs 300.80 and has touched a high and low of Rs 304.50 and Rs 300.80 respectively. So far 57850 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 10 has touched a 52 week high of Rs 386.00 on 17-Sep-2012 and a 52 week low of Rs 291.20 on 19-Mar-2013.

Last one week high and low of the scrip stood at Rs 320.00 and Rs 295.90 respectively. The current market cap of the company is Rs 191891.15 crore.

The promoters holding in the company stood at 90.00% while Institutions and Non-Institutions held 7.44% and 2.56% respectively.

Coal India, state run miner has decided to acquire two Australian companies for over $4 billion. With this initiative, the company aims to import 28 million tonnes high quality thermal coal a year. The company has sent the proposal to pick majority stakes for $2 billion each in the two companies, with annual output of 12 million tonnes and 16 million tonnes, respectively.

This acquisition process is likely to take at least three months because, it will conduct a due diligence through its merchant bankers on the assets to make sure the return on investment is in stipulation with the government norms. Recently, CIL received 32 proposals when it floated an expression of interest for acquiring assets overseas, from countries including Indonesia, Australia, USA, Mozambique, Chile and Columbia.