Coal India Shares Dip on Demand Concerns

  Published 1 year ago

Coal India (COAL.NS) shares dropped 2% after Morgan Stanley reported potential weakness in thermal power demand during May, impacting volumes. Lower offtake and production figures in May are projected to weigh on financial estimates unless power demand rebounds.

  • May offtake fell 7.8% year-over-year.
  • Morgan Stanley rates COAL 'equal, weight'.
  • Inventory digestion needed for volume recovery.
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