Government plans 10 percent stake sale in Coal India

Sarkaritel
By Sarkaritel August 14, 2014 19:38

Government plans 10 percent stake sale in Coal India


New Delhi, Aug 14 The government plans to sell 10 percent of its stake in Coal India Ltd, union minister Piyush Goyal told parliament Thursday.

The government has a total 89.65 percent holding in the world’s largest coal producer, said Goyal, minister of state for power, coal and new and renewable energy (independent charge), in a written reply to a question in the Lok Sabha.

This divestment plan is one of the many stake sales proposed by the government.

Earlier in the week, the state miner posted an 8 percent growth in consolidated net profit at Rs.4,033 crore for the first quarter ending June, compared to Rs.3,731 crore in the same quarter of the last fiscal.

Sarkaritel
By Sarkaritel August 14, 2014 19:38