Millennium Post

The day before: scrip dips by more than 2%

Shares of Coal India Ltd ended over 2 per cent lower on Thursday, wiping-out Rs 5,620.59 crore from its market valuation, as the government decided to sell up to 10 per cent stake in the company to raise about Rs 24,000 crore on Friday.

After falling 5 per cent to Rs 364.60 in intra-day trade at the BSE, shares of CIL finally ended at Rs 375.15, down 2.32 per cent from its previous close. At the NSE, it settled with a loss of 1.43 per cent at Rs 378.30 per share.

Tracking weakness in the stock, the company’s market valuation tanked Rs 5,620.59 crore to Rs 2,36,958.41 crore.
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