Coal India Requested to Keep Prices Level

Bloomberg reported that Coal India (BSE:533278) will be asked by India’s government to cap coal prices and swallow increased payroll costs.

As quoted in the market news:

Coal India is close to granting a 25 percent increase in wages to non-executive workers for a five-year period starting July 1, 2011, Mohan Das said on Jan. 13. The company will hold a meeting with trade unions on Jan 27 and Jan. 28 to make a final decision.

Click here to read the full Bloomberg report.