Coal India beats ONGC to become most valuable PSU

Coal India (CIL) on Tuesday overtook Oil and Natural Gas Corporation (ONGC) by becoming the most valuable public sector firm (PSU) of India in terms of market capitalisation (mcap).

The mcap of CIL was Rs 2.5 lakh crore, after it touched a 52-week high of Rs 397.60 on the Bombay Stock Exchange, gaining Rs 8.70 a share at close.

The mcap of ONGC slipped to Rs 2.37 lakh crore after the stock suffered a Rs 19.55 loss in the bourse on account of subsidy sharing burden of 8 per cent.

Coal India achieved the position within six months after listing. It came out with an IPO in October 2010 at a price of Rs 245 per share.