May 31, 2019 / 4:23 AM / 4 months ago

BUZZ-Coal India hits 6-month high after estimate-beating Q4 profit

** Shares of state-run Coal India Ltd rise as much as 4% to 262.95 rupees, their highest since Nov 2018

** Co posts a more than four-fold jump in March-quarter consolidated profit, beating estimates of 50.63 bln rupees

** Co’s total expenses dive 21%

** Short-term issues that affected volume in FY19 has been partly resolved; operating leverage gains should keep costs stable - Jefferies

** Citi raises price target to 320 rupees from 300 rupees

** About 8.3 mln shares change hands in early trade, compared with a 30-day average of about 8.9 mln shares

** As of last close, stock up 5% so far this year (Reporting by Harish Bhaskar in Bengaluru)

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