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Coal India, the world's largest coal producer, underperformed the S&P BSE Metal Index for the first time in three years.
While the metal and mining index gained 47 percent, making it the top performing sectoral gauge of 2016, Coal India has fallen nearly 7.5 percent.
JSPL is the only stock on the index that's lost more this year. However, while JSPL has recovered in the last six months, Coal India continues to drift lower.
The stock's poor performance is starting to reflect on its ratings. About 68 percent of analysts tracked by Bloomberg have a “buy” call on the stock, compared to 82 percent at the start of the year.
So what's weighing on Coal India?
Good monsoons, coupled with lower demand and rising inventory at power plants, has hit production and dispatch volumes this year.
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