Coal India Falls 3% on Reports Chairman Decides to Quit

        0729 GMT [Dow Jones] Shares in Coal India Ltd. (533278.BY) fell as much as 3% to 355.45 rupees ($6) on Wednesday following local media reports that the chairman of the world's largest coal producer has decided to resign from the company to take up a senior bureaucratic assignment at the newly created southern Indian state of Telangana. S. Narsing Rao's exit could mean that the company may remain headless for a while, hurting its growth plans. It is already facing numerous challenges in raising coal output. A senior company executive told the Wall Street Journal that Rao could resign by month-end after announcing quarterly earnings due on May 29. (Saurabh.Chaturvedi@wsj.com; Twitter: @journosaurabh)()
        (END) Dow Jones Newswires

        May 21, 2014 03:30 ET (07:30 GMT)