The stock market seems to be in reversal mode for the last few days. Nifty is forming a base at the level of 24200. At present, investors are showing good interest in PSU stocks in the market. In the price correction of PSU stocks that have been going on since June, many stocks are seen at decent valuations. Experts believe that there is a chance to buy on dips in some PSUs.

Coal IndiaLtd'sd share price is also in focus. This is a PSU stock that has fallen by 30% from its high level of August 2024. Coal India is rising from its support level of Rs 404 and coming towards the level of Rs 420. Shares of Coal India were trading at Rs 415 level at 12.20 pm on Wednesday. The market cap of the company is Rs 2.55 lakh crore.

Brokerage firm Morgan Stanley is positive on the shares of government-owned Coal India Limited. The brokerage firm said that this government-owned company will directly benefit from the increase in power demand. The brokerage said that the strong power demand scenario is good for coal.

Coal India Share Price Target

Morgan Stanley has initiated an overweight rating with a target price of Rs 525. Thus, the brokerage firm expects a profit of more than Rs 110. The

bBrokeragesaid that volume should be the main driver of earnings in the mid-term. The company has a strong balance sheet to support the investment.

Coal India Share Price History

Coal India Limited shares gave a positive return of 0.91 percent and 2.15 percent in the last 1 week and 2 weeks respectively. However, in the last 1 month and 3 months, the company's shares fell by 9.80 percent and 21.70 percent respectively. On a year-to-date basis, the shares of the state-owned company gained 8.94 percent. In the last 1 year, 2 years, 3 years, 5 years, and 10 years, the company PSU shares strengthened by 25.02 percent, 79.83 percent, 166.89 percent, 106.99 percent,t and 19.12 percent respectively.

Coal India Dividend History

This year, Coal India Limited declared a dividend of Rs 5.25 in February, Rs 5 in August, and Rs 15.75 in November. Last year, the government-owned company declared a dividend of Rs 5.25 in February, Rs 4 in August and Rs 15.25 in November. The dividend yield of Coal India Limited at the current market price is 6.26 percent.