Coal India Strike Could Soon Cause Blackouts

According to Quartz India, a massive strike by unionized workers at state run Coal India (NSE:COALINDIA) is already having massive repurcussions. According to the outlet, production and dispatches from the company have already fallen by roughly 60 percent.

As quoted in the publication:

Unless the government and leaders from the five different trade unions—who have come together in a rare show of unity—can hammer out a solution quickly, the impact of the strike could include power cuts and blackouts for Indian homes and businesses. It could also deal a heavy blow to prime minister Narendra Modi’s push to attract more global manufacturing companies to set up shop in India.

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