Coal India Reaches Record as Price Increase May Lift Earnings
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Coal India Ltd., the world’s biggest producer of the fuel, reached a record in Mumbai on optimism higher prices will boost fourth-quarter earnings due this week.
Shares of the Kolkata-based company climbed as much as 5.2 percent to 388.9 rupees, the highest price since the stock’s trading debut in November, and traded at 387.8 rupees as of 2:32 p.m. local time. The shares have gained 23 percent this year, compared with a 9.5 percent decline in the benchmark Bombay Stock Exchange Sensitive Index.