Coal India shares slump 5% on concerns of discount at govt share sale

Highlights

Coal India shares slumped on Thursday on concerns of discount at the government share sale.

Mumbai: Coal India shares slumped on Thursday on concerns of discount at the government share sale.

Here are the highlights.

** Shares in Coal India Ltd fall 4.9%

** Indian government plans to sell up to 10% in the company to raise as much as $3.9 billion

** The share sale would be at a discount to the market price, prompting a sell-off in the counter-traders

** Shares in the company gained 7.2% in the last two weeks till Wednesday.

PTI