Coal India divestment should begin after Diwali: Finance Ministry official

Mumbai: Coal India Ltd's divestment process should begin immediately after the Diwali festival on Oct. 23, Manoj Joshi, joint secretary of financial markets in the Finance Ministry, said on Wednesday.

The government wants to sell a 10 percent stake in the state-owned company this fiscal year ending March 31 as part of many divestments aimed at bolstering its stressed finances.