State-run Coal India has become the third most powerful Indian company with a total market capitalisation (m-cap) of Rs 2,09,671.57 crore and is only lagging behind RIL and ONGC.
The coal behemoth added another feather to its cap last week when it replaced IT giant Tata Consultancy Services (TCS) to become the country's third most coveted firm.
CIL added Rs 7,611.21 crore to its valuation, which on Friday stood at Rs 2,09,671.57 crore.
According to market analysts, investors are optimistic about the stock and looking at the cash balance of the company it is likely that it may go for acquisitions either in the domestic space or overseas.
Meanwhile, the cumulative market valuation of the eight of the top-10 firms reduced by Rs 57,044.09 crore in the past week.
RIL, the country's most valuable firm, witnessed a wealth erosion of Rs 21,270.47 crore.
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