Coal India shares up in morning trade on inclusion in Nifty

Mumbai: Shares of state-run Coal India surged by over 2 percent in morning trade on the bourses today as the company replaced Anil Dhirubhai Ambani Group firm Reliance Capital on the National Stock Exchange’s benchmark index, the Nifty.

Coal India replaces Reliance Capital in the NSE index of the country’s 50 largest companies by market capitalisation with effect from today.

[caption id=“attachment_103279” align=“alignleft” width=“380” caption=“Coal India replaces Reliance Capital in the NSE index. Reuters”]  [/caption]

Coal India opened on a bullish note on the Bombay Stock Exchange and then gained further momentum to an early high of Rs 344.45, a jump of over 2.13 percent vis-a-vis its previous closing price.

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On the National Stock Exchange, the scrip rose to a high of Rs 344.40, up 2.02 percent from its last close.

However, some of the initial gains were pared in later morning trade and CIL was trading 1.20 percent higher at Rs 341.30 on the BSE and up 0.90 percent at Rs 340.60 on the NSE.

Over 2.38 lakh shares of the company changed hands on the BSE and more than 18.25 lakh shares were traded on the NSE in the morning session.

Earlier, in August, Coal India had replaced another Anil Ambani Group firm, RInfra, in the BSE’s Sensex index of blue-chips.

Shares of Coal India have been doing well since the company was listed in November last year and it has become the country’s third-most valued firm after Reliance Industries and ONGC.

PTI