January 29, 2015 2:08 PM

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Coal India shares slump over 5% on stake sale announcement <br/>

Shares of Coal India Ltd fell by over 5 per cent today as the government decided to sell up to 10 per cent stake in the company to raise about 24,000 crore rupees tomorrow. Coal India scrip plunged 5 per cent to 364 rupees at the Bombay Stock Exchange. On the National Stock Exchange, it lost 5 per cent to 364 rupees. The blue-chip stock was the biggest loser among the front-line scrips on both the Sensex and Nifty. The disinvestment is expected to help government meet half of the 43,425 crore rupees revenue target from stake sale in public sector companies.

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