CESC stock, today, opened at Rs. 644, as compared to its last closure at Rs. 626.85 on the Bombay Stock Exchange (BSE). The stock is presently trading at Rs 639.00 on BSE.

After the previous close at Rs. 629.7, the stock opened at Rs. 615 at NSE. The stock is presently trading at Rs 637 on NSE.

Stock analyst, E Mathew has given “BUY CALL” for this stock to make decent gains in the short run.

Mr. Mathew said that the interested investors can buy this stock on declines (between Rs 596-600) with a stop loss at Rs 590. The short term target for this stock is around or above Rs 680.

CESC informed that the ministry of Coal, (government of India) had made combined allocation of Mohuagarhi Coal Block in the State of Jharkhand to the company for its projected pithead power station.

The company’s share in the total reserve works out to 110 million tons. The stock of coal will be utilized for CESC`s proposed 1000 MW thermal power station in Dumka District, Jharkhand, for which an MoU was signed with the Jharkhand Government.

The power plant is expected to be operational by 2012 and the power generated will mainly be sold in merchant market.