Coal India share price climbed 3% in morning trade on the BSE on Tuesday, 22 September, after global financial firm Morgan Stanley reportedly upgraded the stock and raised its target price. Coal India shares opened at ₹422.90 against their previous close of ₹414.50 and rose by 3% to their intraday high of ₹426.75.
The stock witnessed healthy buying interest after Morgan Stanley upgraded the stock to an ‘overweight’ and raised the stock’s price target to ₹480, according to CNBC-TV18.
According to CNBC-TV18, the global financial firm expects rising thermal power demand, de-stocked plant inventories, and rising coal prices to support the company’s volume growth and expansion of e-auction premiums.
(This is a developing story. Please check back for fresh updates.)
