For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Coal India slips nearly 4% after regulator imposes fine

By Religare
|
Coal India slips nearly 4% after regulator imposes fine
Shares of state-controlled coal mining company Coal India fell nearly 4 per cent in early trade on Bombay Stock Exchange (BSE) after the Competition Commission of India (CCI) imposed a penalty of 1,773 crore over alleged abuse of its monopolistic position.
 

"The CCI held that Coal India through its subsidiaries operates independently of market forces and enjoys undisputed dominance in the relevant market of production and supply of non-coking coal in India," the ministry of corporate affairs said in a statement.

Weighed down by development, shares of company declined as much as 3.67 per cent to trade at Rs 274.95 a piece on the BSE. In a similar fashion, shares of the company fell 1.99 per cent to Rs 280.15 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 21,136.33, down 118.93 points or 0.56 per cent at 9:55 hours.

Dion Global Solutions Ltd.

Read more about: coal india bse cci monopoly coal
Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more