Coal India, which made a big-bang debut on stock exchanges on Thursday, became the country's fifth most-valuable company with market capitalisation of Rs 2.03 lakh crore within the first hour of trade.
State-run coal behemoth has left behind IT bellwether Infosys, power utility NTPC, the country's largest private lender ICICI Bank, FMCG major ITC and engineering giant L&T to enter the club of top 10 most valued firms.
Oil and Natural Gas Corp 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).
|TOP TEN FIRMS ON THE BOURSES |
|2.||Oil and Natural Gas Corp |
|3.||State Bank of India |
|4.||Tata Consultancy Service |
|5.||Coal India |
|8.||ICICI Bank |
|10.||Larsen & Toubro |
The world's largest coal producer on Thursday listed on the bourses with a handsome premium, and zoomed over 32 per cent, over its public offer 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 m-cap of Rs 3,52,140 crore, Reliance Industries is the country's most valuable company. ONGC with 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.