The salary hike for workers puts further pressure on Coal India’s earnings already hurt by degradation of coal quality at several mines. Photo: Indranil Bhoumik/MintNew Delhi: Coal India Ltd signed an agreement with workers’ unions to increase salaries of its non-executive staff after negotiations extending for months ended. Provisions for a salary increase have been responsible for the declines on the last four occasions, according to the company filings. Coal India earmarked Rs28 billion for non-executive salary increases during the year that started in July 2016. Coal India shares rose 1.5% to Rs285.65 on Tuesday.

Source: Mint October 10, 2017 13:52 UTC