Coal India under pressure, declines 6% as govt ends monopoly in coal mining

Shares of Coal India (CIL), the state-run coal mining and refinery company, declined up to 6 per cent in the intra-day deals on the BSE on Monday, after the Union government opened up the mining sector in a big push for privatisation. 

At 12:06 pm, the stock was trading around 4.7 per cent lower at Rs 123.45 apiece on the BSE. In comparison, the benchmark S&P BSE Sensex was trading nearly 3 per cent lower at 30,224 levels. 

Finance Minister Nirmala Sitharaman on Saturday said the government would end its monopoly in coal mining by allowing private companies.