CIL short of Rs. 731 crore to become India’s 3rd most valued firm

Updated - November 11, 2016 06:04 am IST

Published - November 07, 2010 02:12 pm IST - New Delhi

Coal India, which made a big-bang debut on bourses last week, is just short of Rs. 731 crore to de-throne State Bank of India as the country’s third most valued firm with a market cap of over Rs 2.21 lakh crore.

With a total market capitalisation of Rs. 2,20,851.53 crore, state-run coal behemoth is the fourth most valuable firm which is behind Reliance Industries (which tops the list of 10 most valuable firms), ONGC (at the second spot) and SBI.

SBI, which hit its life time high level on Friday during the Muhurat trading, has a market cap of Rs. 2,21,582.94 crore.

Many analysts believe that going by the response CIL received during the IPO and post listing it will not be difficult for the company to add more value to its stock.

“There are fairly valued chances for the state-run firm to become the third largest company in terms of market-cap. In the days to come the stock will be in limelight, grabbing the attention of foreign institutional investors,” Ashika Brokers Research Head Paras Bothra said.

Coal India, which mopped-up a record Rs. 15,200 crore through a mega IPO, made its entry on bourses on Thursday last week and in merely two sessions the scrip gained 43 per cent over its IPO issue price of Rs. 245 a share.

During the week ended Friday, the country’s 10 most valuable firms ended with smart gains. Interestingly, in the week, the BSE benchmark Sensex closed above the magical 21,000 level, for the first time in the history.

On Friday, the 30-share index of the BSE ended at 21,004.96, recording a gain of 5 per cent for the week.

During the week, Mukesh Ambani-led energy giant RIL added Rs. 3,648.7 crore to take its total m-cap to Rs. 3,62,236 crore.

State-run ONGC too witnessed its valuation swelling by a whopping Rs. 16,234 crore to Rs. 2,94,982.26 crore.

Similarly, two of the country’s top lenders SBI and ICICI Bank together added Rs. 33,895.41 crore to their combined market valuations. The m-cap of ICICI Bank was at Rs. 1,45,781.88 crore.

Two of the IT bellwethers, Tata Consultancy Services and Infosys Technologies, too added Rs. 11,355.92 crore to their combined m-cap. The valuation of TCS and Infosys stood at Rs. 2,10,888 crore and Rs. 1,76,792.84 crore, respectively.

Power major NTPC’s valuation edged higher by Rs. 1,030.69 crore to Rs. 1,61,775.93 crore and that of FMCG giant ITC by Rs. 4,748.28 crore to Rs. 1,36,251.38 crore.

MMTC ended last in the list with an m-cap of Rs. 1,32,025 crore after adding Rs. 3,020 crore to its valuation and replaced telecom major Bharti Airtel.

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