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India Sensex Has Worst Quarter Since 2008; Mining Stocks Plunge

Indian stocks dropped, completing their worst quarter since 2008, as Coal India Ltd. slid after the cabinet approved a bill making companies mining coal and other minerals pay for development of areas where they operate.

Coal India, the world’s biggest producer of the fuel, lost 5 percent, a six-month low. Coal miners must share 26 percent of their earnings, and other miners must pay an amount equal to the royalty collected by the government for mineral extraction, according to the bill. State Bank of India Ltd., the largest lender, dropped for a third day, losing 2.1 percent.