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Public sector miner Coal India’s stock was seen under pressure in trading on Wednesday after reports said it would have to pay a reserve price for acquiring new blocks.
The India stock was trading around two per cent lower at Rs 308.90 at 1145 hrs on the BSE. The stock opened at Rs 312.25 at 0908 hrs on Wednesday after closing at Rs 314.75 on Tuesday on BSE.
“We are keeping a watch on the stock. Newsreports that it would have to pay for new mines have been pulling the stock down,” said Mr Bhavesh Chauhan, Research Analyst at Angel Broking.
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