Coal India Surges on Debut

Bloomberg.com reports that Coal India Ltd. soared 40% on it’s first day of trading.

The story is quoted as saying:

The stock climbed to 342.55 rupees in Mumbai trading, valuing the company at $49 billion. The benchmark Sensitive Index gained 2.1 percent to a record. Prime Minister Manmohan Singh’s government raised 152 billion rupees ($3.4 billion) last month by selling a 10 percent stake in the world’s largest coal producer at 245 rupees a share.

To access the full story, click here.