Debut on bourses: Coal India trades over Rs 300
The stock mounted as much as 33 percent to Rs 326.50, and traded at Rs 324.75 in the opening trade on Nov 4.
"The market sentiment is bullish, which makes a big difference," stated SMC Wealth Management Services' chairman, DK Aggarwal and also added, "It"s a demand-supply thing."
Coal India is the largest coal reserve owner and producer in the world and it has access to 64.3 billion tonnes of coal reserves, which is 6 percent of the global proven reserves.
Coal India listed at Rs 287 on the Bombay Stock Exchange (BSE), much higher than its issue price of 245.