Standard Post with Image

Coal India Plunges Post Min Rules Out Hike in Coal Prices

  • Shares of state-owned Coal India  is reeling under selling pressure after the Coal Ministry has ruled out any hike in coal prices."As of now the rise in the prices of coal is not under consideration," Coal Minister Sriprakash Jaiswal told PTI when asked whether the government is considering hiking prices in the wake of new system. Coal India, however, said that the burden on account of increase in duty will be passed on to the consumers, adding that it would be negligible. "The increase will be passed on to the consumers. It will be negligible," CIL Chairman and Managing Director N C Jha said. 

  • At 14:31 hours IST, the share was trading at Rs 315.50, down Rs 11.00, or 3.37%.  Trading volumes increased marginally to 584,699 shares, as compared to its 5-day average of 526,190 shares. Market capitalisation of the company stands at Rs 199,281.30 crore.

Source