Coal India has moved higher by over 2% to Rs 424, its new high on BSE, extending its previous day’s 6% rally, on hopes of reforms in the coal sector.
The stock opened at Rs 416 and touched a low of Rs 404 so far. A combined 7.46 million shares changed hands on the counter till 1250 hours on the BSE and NSE.
The government will pursue reforms in the coal sector “with urgency for attracting private investment in a transparent manner”, President Pranab Mukherjee told a joint session of Parliament on Monday.
Meanwhile, consultancy firm Deloitte, which was selected to study the restructuring of Coal India, has recommended to the government options such as reforming the company and its nine subsidiaries through 'internal changes in structure, systems and roles’, the PTI report suggests.
The report said, the consultancy firm also suggested to the coal ministry the setting up of independent mega regional companies or the phased creation of independent entities with the continuation of the holding company during the transition, according to a coal ministry document.
The stock opened at Rs 416 and touched a low of Rs 404 so far. A combined 7.46 million shares changed hands on the counter till 1250 hours on the BSE and NSE.
The government will pursue reforms in the coal sector “with urgency for attracting private investment in a transparent manner”, President Pranab Mukherjee told a joint session of Parliament on Monday.
Meanwhile, consultancy firm Deloitte, which was selected to study the restructuring of Coal India, has recommended to the government options such as reforming the company and its nine subsidiaries through 'internal changes in structure, systems and roles’, the PTI report suggests.
The report said, the consultancy firm also suggested to the coal ministry the setting up of independent mega regional companies or the phased creation of independent entities with the continuation of the holding company during the transition, according to a coal ministry document.