Coal India Stock Surges 5%, Becomes Top Nifty Gainer Amid West Asia Crisis: The Explanation
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Coal India Shares Jump 5% on West Asia Crisis, IPO Plans & Strong Reserves
M
Moneycontrol•12-03-2026, 16:19
Coal India Shares Jump 5% on West Asia Crisis, IPO Plans & Strong Reserves
•Coal India emerged as the top Nifty gainer on March 12, rising over 5% due to escalating West Asia tensions threatening global energy supplies.
•Government confirms 210 million tonnes of coal stock, adequate for 88 days, with production outpacing consumption leading to record high reserves.
•CIL's consultancy arm, Central Mine Planning and Design Institute Ltd (CMPDI), plans an IPO of up to 7.14 crore equity shares (10% stake), boosting CIL stock.
•Global brokerage Jefferies raised Coal India's target price and FY26-28 earnings estimates by 1-4% due to higher e-auction premiums.
•Other energy majors like Adani Enterprises, NTPC, and Power Grid Corp. of India also saw gains, with the Nifty Energy index closing nearly 2% higher.
