Govt Plans Roadshows for Coal India Divestment
The government is all set to divest 5 percent stake in one of the largest PSUs of the country--Coal India Ltd. It will kick-start a 10-day long roadshow beginning October 21, sources told CNBC-TV 18. These roadshows will be held in Boston, New York, Chicago, San Francisco and London.<br />
The public sector giant will be announcing its second quarter results, following which the second leg of roadshow will be held in Singapore and Hong Kong.<br />
The government has been intending to divest 5 percent in Coal India and sources had hinted earlier this week that it would be done by way of follow-on public offer (FPO). Following the street talks, the company's stock had taken a severe beating. The government plans to raise Rs 9000 crore by offloading 5 percent in Coal India, which sources say, will be done by the third week of December.<br />
On October 14, 2013, at 12:39 hrs Coal India was quoting at Rs 285.80, up Rs 3.20, or 1.13 percent. The 52-week high of the share was Rs 374.05 and the 52-week low was Rs 238.35.<br />
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The company's trailing 12-month (TTM) EPS was at Rs 13.88 per share as per quarter ended June 2013. The stock's price-to-earnings (P/E) ratio was 20.59. The latest book value of the company is Rs 32.48 per share. At current value, the price-to-book value of the company was 8.80.
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