CIL shares surge 5.4% on bourses

Shares of Coal India today rose by more than 5 per cent amid reports that the new government is exploring options to privatise the state-owned miner.
CIL's stock rose by 4.78 per cent to settle at Rs 389.95 on the BSE. During the day, the scrip climbed 7.75 per cent to Rs 401 -- its 52-week high.
At the NSE, the stock jumped 5.37 per cent to end at Rs 390.80.
In terms of volume, 13.88 lakh shares of the company changed hands at the BSE, while over one crore shares were traded at the NSE during the day.
Meanwhile, consultancy firm Deloitte is likely to take more time to submit its final report on restructuring of state-owned coal behemoth CIL as the draft has to be seen by the next government led by Narendra Modi.

The delay on the final report comes amidst speculation that various units of Coal India could be converted into independent companies. It is also speculated that states could be made equity holders in new independent companies in order to boost production.
The consultancy firm was to submit the final report by March-end this year.
CIL is the single largest coal producer in the world. It accounts for 81 per cent of the domestic production.