After listing, CIL to enter top 10
When Coal India lists on the BSE and NSE on November 4, just ahead of Diwali , it will almost certainly climb up to take a vantage position among the top 10 valued companies in India.
By TNN |
MUMBAI: When Coal India lists on the BSE and NSE on November 4, just ahead of Diwali , it will almost certainly climb up to take a vantage position among the top 10 valued companies in India. Diwali is also the new year for the Gujaratis, who form a dominant part of the trader community on Dalal Street.
Since the Coal India stock was attractively priced at a band of Rs 225-245 , dealers expect the stock to get at least a 25-30 % premium on the listing day. This is also backed by the fact that Rs 15,500-crore IPO was subscribed over 15 times. In the unofficial markets of Rajkot and Surat, the shares are already commanding a premium of Rs 32-35 .
If we assume a listing price of Rs 300, Coal India Ltd’s market-cap will be about Rs 1.89 lakh crore. This will put this PSU giant almost neck-and-neck with TCS, whose current m-cap is Rs 1.92 lakh crore. Only RIL (Rs 3.5 lakh crore), ONGC (Rs 2.9 lakh crore) and SBI (Rs 2.02 lakh crore) are ahead of TCS.
Since the Coal India stock was attractively priced at a band of Rs 225-245 , dealers expect the stock to get at least a 25-30 % premium on the listing day. This is also backed by the fact that Rs 15,500-crore IPO was subscribed over 15 times. In the unofficial markets of Rajkot and Surat, the shares are already commanding a premium of Rs 32-35 .
If we assume a listing price of Rs 300, Coal India Ltd’s market-cap will be about Rs 1.89 lakh crore. This will put this PSU giant almost neck-and-neck with TCS, whose current m-cap is Rs 1.92 lakh crore. Only RIL (Rs 3.5 lakh crore), ONGC (Rs 2.9 lakh crore) and SBI (Rs 2.02 lakh crore) are ahead of TCS.
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