 "Coal India")
Coal India (CIL) made two important announcements. The first was that it would raise prices of high-grade G2-G10 non-coking coal by around 8 per cent, which would help partially offset a wage hike. The second announcement was that the government intends to sell a 3 per cent stake using the OFS mechanism this week. The estimated value of the OFS is about Rs 4,000 crore, and the floor price would be Rs 225 per share, which represents a discount of around 7 per cent from the closing price of Rs 241.2 on Wednesday.
The stake dilution will lead to a
