Declining average selling price coupled with other expenses weighed on the Coal India's second-quarter performance, according to JPMorgan. (Photo source: Coal India website) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Coal India Ltd.'s rainy days are not over yet, according to top brokerages. JPMorgan and Jefferies reduced the target price for the stock after worse-than-expected performance in July–September.

Declining average selling price coupled with other expenses weighed on the Coal India's second-quarter performance, according to JPMorgan. The largest coal producer has missed the brokerage's estimates, it said in a note.

JPMorgan believes that the Coal India stock lacks catalyst so, it remained on the sideline for the stock. It reduced the target price e to Rs

See Full Page