Khatarnak Breakout: Coal India Sprints on Day of Energy Stocks

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Shares of Coal India Limited on Friday zoomed. From ₹400, shares of Coal India vaulted to ₹429.

By S JHA

Mumbai, January 2, 2026 — The old rule of the forest is: when an elephant moves, all must stand and respect the movement of the giant. Coal India Limited was that giant which moved on Friday: to sprint and stun.

Lining up a slew of IPOs for the subsidiary, Coal India Limited has been under the watch on the Dalal Street. The stock had retraced last month after making a bold bid to breakout from the ₹413 level.

Shares of Coal India Limited on Friday reversed the retracements on Friday. The stock zoomed. The scrip went soaring. From around ₹400, shares of Coal India vaulted to ₹429. The street applauded.

“Coal India Limited shares jumped 7% after allowing buyers from Bangladesh, Bhutan and Nepal to directly participate in e-auctions from January 1, 2026,” said Angel One in a note shared with clients.

The news took the street with the storm. Coal India Limited, the state-run miner, leads India’s coal production. It approved foreign participation in its Spot Washed Medium Ash coal e-auctions.

The move came amid a domestic surplus from high production and mild weather. Shares drew huge trading volume. Technical analysts shared bullish charts. Targets were set for ₹462. Options traders minted money.

Foreign analysts are also taking close look at Coal India Limited amid India girding up for the great game of critical minerals. Is Coal India Limited building a war chest, they ask.

Is India’s largest state-run coal miner eyeing a global foray? Analysts are curious: why is the miner lining up IPOs.

(Disclaimer: This article makes no recommendation for buy or sell of shares of any company)