Coal India shares slump after regulator imposes fine

Reuters Posted online: Wednesday, Dec 11, 2013 at 0000 hrs
Mumbai : Shares in state-run

Coal India fell as much as 3.4 per cent on Wednesday after the competition regulator imposed a fine of 17.7 billion rupees on the miner.

The Competition Commission of India imposed the fine late on Tuesday saying Coal India abused its dominant position and imposed unfair conditions in fuel supply agreements with customers.

Officials at Coal India, the world's largest coal miner by output, could not be immediately reached.

Coal India shares were down 2.4 percent at 0925 a.m.