Coal India rallies over 6% as government removes cap on e-auction sales

NEW DELHI: Coal India Ltd rallied as much as 6.64 per cent in intraday trade on Wednesday, after the coal ministry allowed CIL to revert to the old system, removing the cap on e-auction volumes with effect from April 2015, said media reports.

The stock ended day up 5.73 per cent or Rs 20.60 at Rs 380.

According officials, this means Coal India will now be able to increase its e-auction volumes to 10 per cent of total sales, which was the standard practice, added the report.