Indian Economy News

Coal India to divest 25% stake in BCCL, plans subsequent listing

Coal India Ltd (CIL) announced on May 26 that its board has approved the sale of a 25% stake in BCCL and subsequent listing on stock exchanges. The decision was made at a board meeting on March 10, 2022.

The proposal had received only preliminary approval from the Coal India Board. Further action would be taken only after receiving approval from the government. On receipt of further clearance from government, the same would be placed to the CIL Board and the decision would be promptly disseminated to stock exchanges.

Earlier today, the company's stock closed 1.72% higher at Rs. 183.80 (US$ 2.37) a piece on NSE.

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