Coal India surges 5% as government removes cap on e-auction sales
The stock hit a high of Rs 383 on the National Stock Exchange.
 "Coal India surges 5% as government removes cap on e-auction sales")
Shares of Coal India (CIL) has moved higher by 5.4% to Rs 379 on the National Stock Exchange (NSE) on reports that the coal ministry has removed cap on the state-owned miner’s e-auction sales.
The ministry has allowed CIL to revert to the old system, removing the cap on e-auction volumes, with effect from April 2015. This might boost the miner's bottom line in the coming days, Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
The stock opened at Rs 365 and touched high of Rs 383 on the NSE. The trading volumes on the counter almost doubled with a combined 8.84 million shares changed hands till 1144 hours on the NSE and BSE.
The ministry has allowed CIL to revert to the old system, removing the cap on e-auction volumes, with effect from April 2015. This might boost the miner's bottom line in the coming days, Business Standard report suggests. CLICK HERE TO READ FULL REPORT.
The stock opened at Rs 365 and touched high of Rs 383 on the NSE. The trading volumes on the counter almost doubled with a combined 8.84 million shares changed hands till 1144 hours on the NSE and BSE.