New Delhi: Shares of Coal India plunged over 3 percent in early trade on Wednesday after the company reported a steep fall in its net profit for the second quarter ended September 30.
The stock opened at Rs 296 and then dived 3.43 percent to touch an early low of Rs 295.25 on BSE. A similar movement was seen on NSE, where it opened at Rs 297 and slipped 3.49 percent.
On Tuesday, the state-owned company posted a massive 77 percent fall in its consolidated net profit at Rs 600 crore for the July-September quarter, hit by drop in sales and higher expenses.
The PSU major had posted a consolidated net profit of Rs 2,654 crore in the corresponding period of the previous fiscal.
The benchmark Sensex was trading at 26,677.38, down 0.08 percent, from its previous close.
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