Coal India dips on CAG findings

Coal India is trading lower by 1.2% at Rs 329 after the Comptroller and Auditor General of India (CAG) said the company had overstated its manpower productivity.

The report mentioned that the company overstated its manpower productivity for five years between April 2006 and March 2011, according to the leaked draft report CAG on the allocation of blocks and augmentation of production by the company.

The share opened at Rs 331 and touched the low of Rs 328 in th opening deals. As many as 23,000 shares have changed hands on the Bombay Stock Exchange compared to its two-week average of 10,31,000 shhares.