Coal India was worth twice HDFC Bank on listing, today they're equals

Feb 26 2014, 00:29 IST
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Coal India has been losing ground since the start of 2013. Reuters Coal India has been losing ground since the start of 2013. Reuters
SummaryCoal India has been losing ground since the start of 2013...

Coal India (CIL), which debuted on the bourses in early November 2010 and emerged as the Sensex’s second most valued company in August 2011, is now ranked below HDFC Bank in the market capitalisation league tables, reports Jash Kriplani in Mumbai. On Tuesday, the market capitalisation of the world’s largest coal miner dropped below that of the country’s second-largest private sector lender, which is now the country’s seventh biggest blue-chip company.

CIL has been losing ground since the start of 2013 and the government’s intention to divest a further 10% stake in the state-owned monopoly has acted as an overhang on the stock. In mid-January, CIL announced a special dividend of Rs 29 per share, which fetched the government Rs 16,486 crore.

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