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

Written by Jash Kriplani | Mumbai | Updated: Feb 26 2014, 05:59am hrs
CCoal India has been losing ground since the start of 2013. Reuters
Coal India (CIL), which debuted on the bourses in early November 2010 and emerged as the Sensexs 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 worlds largest coal miner dropped below that of the countrys second-largest private sector lender, which is now the countrys seventh biggest blue-chip company.

CIL has been losing ground since the start of 2013 and the governments 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.