CIL short of Rs 731 cr to become 3rd most valued company

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, the state-run coal behemoth is the fourth most valuable firm behind Reliance Industries (tops the list of 10 most valuable firms), ONGC (at the second spot) and SBI.

SBI, which hit its lifetime 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 the limelight, grabbing the attention of foreign institutional investors,” Ashika Brokers research head, Paras Bothra, said.