The Supreme Court  ruled all coal block allocations for both private and public sector companies as illegal.

Commenting on the same, Macquarie Capital Securities, said," It will start hearing the arguments on further action on coal blocks from  September 1. The final decision might take a while and the continued overhang will likely keep a lid on stocks  namely JSP, HNDL and SSLT."

"It is better to wait for some clarity to emerge before buying. Coal India could be an unintended beneficiary and its high dividend yield makes it a very attractive option to buy. The only overhang could be a possible equity offering. Any news of curtailment of India’s coal production could help revive the weak global sentiment on coal, as some companies might try to build inventory," it added.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.