Today, the Indian government advised investors to remain with Coal India Ltd to multiply their fortunes. The government compared the strengths of the company with gold, which is one of the best long-term investments to create wealth.
“Coal India is actually Gold for the investor community, remain with it,” Coal Minister Sriprakash Jaiswal said , after witnessing a 43 per cent rise in the company’s shares within 2 days of its debut on the stock exchanges.
The world’s largest coal producer, Coal India Ltd (CIL), made an impressive start on the stock exchanges. It ended the week up 43 per cent at Rs 349.65 a share on the Bombay Stock Exchange in contrast to the issue price of Rs 245 a share.
Analysts are upbeat on the future of coal India LTD and are raising their closing price estimates for the end of each successive trading session.