Coal India……What a stunning Listing !….surely beyond anybody’s expectations
Issued at Rs 245…opens at Rs 294…races away beyond Rs 320 before one could catch some breath….stays above this all day…touches a high of Rs 344 and closes near it at Rs 342 !
Coal India is now the fourth largest Listed Company by Market capitalisation….At Rs 342,it’s Market Cap is Rs 216241 crs…that’s just under US $ 49 billion….very close to third ranked State Bank of India….maybe a third ranking tomorrow !…….yet some distance away from ONGC and the leader Reliance Industries
…and tomorrow at 6.15 pm we have Muhurat Trading !…so we should see a new High for Coal India + a new high for the Sensex too !….Sensex surged to 20894..up by 428 points….one more similar surge tomorrow and we shall see a new Sensex high past 21250 !
Many retail allotees have got a great sale price even today as the share price simply whizzed past Rs 320 in minutes this morning…those who yet have not sold should really consider cashing in for now….that is my view….for the Long Term certainly COAL IS COOL !….but as Arzan’s response to my earlier today blog on Coal India observes ” Only a Monopoly can allow an inefficient company to be so highly valued and highly sought out ! ” ….but this is real money being made in Coal India…real, only if you cash it…and it’s a great price to do so now !