In case you missed, Coal India IPO'd last week to great success
- Coal India Ltd. surged 40 percent on its first trading day to become the world’s second-most valuable coal miner after investors bid for 15 times the shares sold in the country’s largest initial public offering.
- “There’s a lot of money coming into commodities and emerging markets after the Fed action yesterday,” said Niraj Shah, a Mumbai-based analyst at Fortune Equity Brokers Ltd., who had a price target of 318 rupees for the miner. “Coal India is a near-monopoly supplier in India and energy demand will only continue to increase. I wouldn’t be surprised if the share hits 400 rupees.”
Printing press + capital flows from western central bankers into emerging markets + near monopoly status? Priceless.
- “We had expected some gains on listing and had built that into the price,” Chairman Partha Bhattacharyya said in an interview. “But we didn’t expect this much gains.”
All thank you notes may be sent to Federal Reserve building....Perhaps with their war chest, Coal India can buy out a few major U.S. players ... we're happy to give away all resources to the highest bidder, unlike those socialists in the Great White North
As speculators run to find the next great sector which has not ramped, coal has seen great success the past few days. Can steel be far behind, despite lagging results, cost pressures, and tepid demand? (fundamentals are so 1996)
[Massey Energy (NYSE:MEE) is up on rumors of a buyout offer... but some of the names being used as rumor bait as the bidder are also running up - it's all good]
If Chinese coal is more your thing, you are in luck there too.... remember, just throw a dart and win. No company-specific knowledge needed anymore.