"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.