After opening on a bullish note, shares of the company gained 2.37 per cent to Rs 355.80 on the BSE as the trade progressed.
At the NSE, the stock climbed 2.4 per cent to Rs 356.
The scrip was the top performer among the BSE 30-scrip blue-chip index Sensex, which was trading flat at 1108 hrs.
State-owned Coal India yesterday reported 7.8 per cent rise in consolidated net profit at Rs 4,469 crore in the first quarter ended June 30, on the back of higher sales and e-auction realisation.
It had posted a net profit of Rs 4,144 crore in the year- ago period.
Net sales of the company for the April-June, 2012-13, quarter increased 13.8 per cent at Rs 16,500 crore, as against Rs 14,499 crore in the same period last fiscal.