Coal India has slipped over 4% to Rs 282 in noon deals on reports that the government plans road show for its propose divestment plan in the company.
The government is planning to divest 5% stake in the company through follow-on public offer (FPO), will kickstart a 10-day long roadshow beginning October 21, the CNBC –TV18 report suggests.
The government has reportedly selected seven merchant bankers for the stake sale -- Goldman Sachs, Credit Suisse, Deutsche Bank, SBI Capital Markets, Kotak Mahindra Capital, JM Financial and Merrill Lynch, the media report suggests.
Meanwhile, Coal Minister Sriprakash Jaiswal on Friday said the Cabinet Committee on Economic Affairs (CCEA) would decide on disinvestment of Coal India, the PTI report suggests.
The stock opened at Rs 294 and hit a low of Rs 281 on BSE. A combined 3.04 million shares change hands on the counter till 1420 hours on BSE and NSE.
The stock is major underperformer among the 30-share Sensex companies, falling 9% in past one week compared to 2.7% rise in benchmark index.
The government is planning to divest 5% stake in the company through follow-on public offer (FPO), will kickstart a 10-day long roadshow beginning October 21, the CNBC –TV18 report suggests.
The government has reportedly selected seven merchant bankers for the stake sale -- Goldman Sachs, Credit Suisse, Deutsche Bank, SBI Capital Markets, Kotak Mahindra Capital, JM Financial and Merrill Lynch, the media report suggests.
Meanwhile, Coal Minister Sriprakash Jaiswal on Friday said the Cabinet Committee on Economic Affairs (CCEA) would decide on disinvestment of Coal India, the PTI report suggests.
The stock opened at Rs 294 and hit a low of Rs 281 on BSE. A combined 3.04 million shares change hands on the counter till 1420 hours on BSE and NSE.
The stock is major underperformer among the 30-share Sensex companies, falling 9% in past one week compared to 2.7% rise in benchmark index.
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