Getting High On Ethanol

The refining arm of Reliance Industries is not reaching for the sugar jar, we are told. It’s the...

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Economy: Liquidity Tap is Drying

Inflation and high interest rates can create a crisis, according to top research...

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Coal India lists with over 17% premium at Rs287.75

Mumbai: In a stellar debut on bourses, state-run Coal India Ltd (CIL) today listed at Rs287.75 on the Bombay Stock Exchange (BSE), a gain of 17.44% over the issue price, reports PTI.

Within two hours of the opening, the scrip was trading at Rs330, a jump of 34% over the issue price of Rs245 a share.

In a similar fashion, the stock debuted at Rs291, a gain of 18.77%, on the National Stock Exchange.

"The listing is spectacular and is very much in-line with market expectations. Retail investors have got their pie and I believe the stock will be in limelight throughout the day and is likely to close above Rs300," Ashika Brokers research head Paras Bothra said.

On the volume front, over 18 crore shares of the company were traded on the two bourses within the first thirty minutes of trade.

Coal India had raised a record Rs15,200 crore through an IPO priced at Rs245 a share - the higher end of the price band of Rs225-Rs245.

User

COMMENTS

Krupal K G

6 years ago

Retail investors are happy with the issue after the failure of NHPC and SJVNL issues. Thanks to the booming markets.
Coal India on its first day of listing got 4th place in market cap. From 5th it is entering international indices such as FTSE All world Index and FTSE All emerging Index, indeed it is an unique recognition. Most of the major institutions and corporates have invested heavily. Appreciation of 39% on the first day is a Diwali gift to the Investors. This also pushed up prices of NMDC and GMDC. Positive development for future disinvestment plans. Retail investors need to be cautious, as big players are in the show.

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