The Coal India Limited (CIL) shares were trading at Rs 335 on the National Stock Exchange (NSE) at 1.20 pm on Thursday. The company, which got listed at Rs 291, jumped to a high of 340 in the early trading session.
On the Bombay Stock Exchange (BSE), the company got listed at Rs 287.45. The shares of the company were issued at Rs 245.
A total of 38.2 crore shares of the company were traded on the NSE, while 15 crore shares were traded on the BSE by 1.20 pm.
Shashi Krishnan, chief investment officer, Bajaj Allianz Life Insurance, said the company has done well on the listing day and it’s a good long-term investment for retail investor.
“The share is reasonably valued and the company has a lot of potential to grow in future. It virtually has a monopoly in India and there are enough scope for improving margins of the company.” Krishnan added.
The government-owned company raised over Rs 15,000 crore through 10 per cent sale of shares. The government of India now owns 90 per cent in the company. This is the largest ever initial public offer in India.
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