Coal India down in the red
By
Research Desk
about 9 years ago
n trade on Monday, after the government announced its plan to flood the markets with a massive, one-shot divestment to raise about Rs 24,000 crore within the next month by selling a 10% stake in Coal India.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
n trade on Monday, after the government announced its plan to flood the markets with a massive, one-shot divestment to raise about Rs 24,000 crore within the next month by selling a 10% stake in Coal India.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
n trade on Monday, after the government announced its plan to flood the markets with a massive, one-shot divestment to raise about Rs 24,000 crore within the next month by selling a 10% stake in Coal India.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
This will mark a late revenue-raising surge, which includes the auction of telecom spectrum, as the administration strains to stick to its stringent fiscal deficit goal, ET reported.
Coal India is down in the red, down 4.5% or by Rs.16.75 at Rs.359, with an intra day low at Rs.356.75.
The stock has slipped into the red, with the markets discouraged as the Govt announced plans to come out with a huge divestment issue, to raise about Rs.24,000 crore before end of FY15, which is just 1.5 months away. The Govt plans to divest 10% stake where it currently holds 89.65% stake.
Every time the Govt announces a stake sale in any PSU, the stock price typically drops as there is usually wariness about the offer price, which most expect to be at a discount to the existing market price.