Coal India Opens at High Premium of 40per cent on Listing

Posted Date: 04-Nov-2010	Category: Stocks Market	Rating:
Author: naduvilmadam	Member Level: Gold	Points: 5 (Rs 2)

Coal India Ltd (CIL) which recently concluded its Initial Public Offering (IPO) got listed as per plan announced by the company earlier on November 4, 2010 inspite of the huge number of applications it received for its IPO offer. Retail investors were given given a 5 percent discount of its offer price at Rs. 245. From the beginning of the trading hours, CIL got good response from the market

Coal India Opens at High Premium of 40per cent on Listing

Coal India Ltd (CIL) which recently concluded its Initial Public Offering (IPO) got listed as per plan announced by the company earlier on November 4, 2010 inspite of the huge number of applications it received for its IPO offer. Retail investors were given given a 5 percent discount of its offer price at Rs. 245. From the beginning of the trading hours, CIL got good response from the market. A Diwali Gift for market participants including retailers, HNIs and QIBs After opening at Rs 287.45 the scrip closed at Rs 342.35 after reaching as high of Rs 344.75 The market capitalisation of CIL was over Rs 2.16 lakh crores.

What next - CIL to be shifted to A Group Sensex List?

What follows is with the market capitalization of CIL at Rs 2.16 lakh crores, the BSE authorities may shift the scrip to Sensex List.

In the meanwhile the market neared the psychological level of 21000 by Diwali 2010 We may await and see whether the sensex crosses 21000 in tomorrow's Muhurat Trading session. The scrip CIL is likely to touch Rs 500 in a year's time according to market analysts

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