Coal India rated ‘Hold’ by Jefferies, says coking coal price hike a positive
We believe coking coal price hike by CIL’s subsidiaries BCCL and CCL could boost CIL’s ASP by 3-3.5%.The coking price hike should partly ease margin pressure. E-auction prices should also improve from Q2 lows, but wage cost increase would continue to weigh on CIL’s earnings.
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