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News Brief | February 2014

Morgan Stanley buys CIL shares worth Rs.485 cr

Morgan Stanley picked up 1.67 crore shares of state-owned Coal India Ltd (CIL) for Rs. 485 crore through open market route. The Government of India holds 90 per cent stake in the world's largest coal producer; Foreign Institutional Investors own 5.51 per cent and domestic institutional investors hold 2.34 per cent. CIL, which accounts for over 80 per cent of the domestic production, has set an output target of 482 mt for the current fiscal.
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