Coal India becomes 5th most valued firm in first hour of trade

Coal India, which made a big-bang debut on stock exchanges today, became the country's fifth most valuable company with a market capitalisation of Rs 2.03 lakh crore within the first hour of trade. State-run coal behemoth has left behind the IT bellwether Infosys, power utility NTPC Ltd , the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter into the club of top 10 most valued firms. ONGC Ltd and State Bank of India are the only two public sector entities that are ahead of Coal India in terms of full market capitalisation (M-Cap). 

The world's largest coal producer today listed on the bourses with a handsome premium and zoomed over 32 per cent, over its IPO issue price of Rs 245 per share, to hit a high of Rs 324.75 in the first hour of trade on the Bombay Stock Exchange. The total m-cap of Coal India was at Rs 2,03,860 crore in the first hour of session. 

"The coal sector will continue to see growing demand and investors are keen to participate in this opportunity. The CIL deal opens up opportunities for other entities seeking to grow their business and take it to the next level," DSP Merrill Lynch Head of Global Capital Markets Saurabh Sonthalia said. With a m-cap of Rs 3,52,140 crore, Reliance Industriesis the country's most valuable company. ONGC with a m-cap of Rs 2,85,560 cr is at the second position, while SBI (Rs2,10,175 cr) is at the third spot. 

TCS with a valuation of Rs 2,08,343 cr is fourth, Infosys (Rs 1,74,622 cr) at sixth, NTPC (Rs 1,60,456 cr) at seventh, ICICI Bank ( Rs 1,42,836 cr) at eighth, ITC (Rs 1,34,922 cr) at ninth and L&T (Rs 1,32,014 cr) at tenth position.