CIL divestment after Diwali, says ministry official

Coal India Ltd's divestment process should begin immediately after the Diwali festival on October 23, Manoj Joshi, joint secretary of financial markets in the Finance Ministry, said on Wednesday. India's federal government wants to sell a 10 per cent stake in the state-owned company this fiscal year ending March 31 as part of many divestments aimed at bolstering its stressed finances.