Coal India Ltd. may sell as much as 151.5 billion rupees ($3.4 billion) of stock in the nation’s biggest initial share sale as investors bet surging energy demand will override environmental delays for new mines.
Indian stocks dropped the most among major indexes in the world after rate increases by the nation’s central bank exceeded economists’ estimates. The nation’s stocks listed in the U.S. also declined more than its BRIC peers.
Manish Sonthalia, who manages $300 million in equities at Motilal Oswal Asset Management Co. in Mumbai, comments on the impact of a fuel-price increase on India’s stocks. He spoke today in a phone interview.