Coal India is in the limelight today. The stock has shown an unusual spike up in volumes at over 4 times and the stock is currently up almost 2% at Rs.295, with an intra day high at Rs.304.95.

The PSU has spurted up after the company yesterday announced that the Board of Directors have approved payment of Interim Dividend for the financial year 2013-14 @ Rs. 29 per share of the face value of Rs. 10/.

For the Government of India this is a bounty as it will stand to gain almost Rs.16,500 crore for its 90% stake.