Free Press Journal

Government plans 10 percent stake sale in Coal India


New Delhi: The government plans to sell 10 percent of its stake in Coal India Ltd, union minister Piyush Goyal told parliament Thursday.

The government has a total 89.65 percent holding in the world’s largest coal producer,  said Goyal, minister of state for power, coal and new and renewable energy (independent charge), in a written reply to a question in the Lok Sabha.

This divestment plan is one of the many stake sales proposed by the government.

Earlier in the week, the state miner posted an 8 percent growth in consolidated net profit at Rs.4,033 crore for the first quarter ending June, compared to Rs.3,731 crore in the same quarter of the last fiscal.