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Coal India shares slide 6% after PSU prices Rs 5,000 crore OFS at 10% discount

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Coal India shares slide 6% after PSU prices Rs 5,000 crore OFS at 10% discount
Shares of Coal India fell over 6% on Wednesday after the state-run miner said that the government will sell up to 2% stake in the company through an offer for sale at a floor price of Rs 412 per share, implying a 10% discount from the previous closing price of Rs 458.15 apiece on NSE.

Coal India announced on Tuesday that it aims to sell 6.16 crore equity shares, representing 1% of Coal India’s total paid-up equity capital, as the base offer size. The government also retains an oversubscription option to sell an additional 6.16 crore shares, taking the total potential offer size to 12.32 crore shares or 2% equity. At the floor price, this would be worth more than Rs 5,000 crore.

The offer for sale will open for non-retail investors on May 27, while retail investors, eligible employees and non-retail investors carrying forward unallotted bids can participate on May 29. It is important to note that the Indian stock market will remain closed on May 28 on account of Bakrid.

The government owned more than 63% stake in the PSU company, as on March 31, 2026. Coal India in its exchange filing further said that the share sale by its promoter will be conducted through a separate window mechanism on BSE and the National Stock Exchange in accordance with the Securities and Exchange Board of India’s OFS guidelines.

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Additionally, 16 lakh Coal India shares changed hands in the block deal on Wednesday morning, according to ET Now.


Also read: Govt to offload up to 2% stake in Coal India via OFS on May 27-29

Coal India share price

Coal India shares sharply declined more than 6% to trade at Rs 428.40 apiece on NSE in the early trading hours of Wednesday. The stock has declined around 5% in one week and more than 3% in one month. Overall, the share price of the miner have gained more than 9% so far in 2026.
In the longer term, Coal India shares gained over 9% in one year, 81% in three years and 202% in five years. The company has a market capitalisation of nearly Rs 2.7 lakh crore.Coal India reported a steady March quarter performance, with consolidated profit after tax rising 12% YoY to Rs 10,908 crore, while revenue from operations increased 6% to Rs 46,490 crore, supported by improved realizations and higher other income.

Further, Coal India’s board also declared a final dividend for FY26 at Rs 5.25 per share. Payment of the final dividend for FY26 will be made subject to approval of shareholders in the upcoming AGM.

Also read: Coal India dismisses shortage fears; says 168 MT buffer available to meet rising demand

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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Figure to acquire Kiavi for $717 million in blockchain push

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10x Genomics: Temporary Pain, Long-Term Gain As Atera Rollout Approaches

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10x Genomics: Temporary Pain, Long-Term Gain As Atera Rollout Approaches

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Can Wembanyama Lead San Antonio Back in NBA Finals

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Jalen Brunson

NEW YORK — The 2026 NBA Finals shift back to Madison Square Garden on Wednesday night for Game 4, with the New York Knicks holding a 2-1 series lead over the San Antonio Spurs after a thrilling 115-111 Spurs victory in Game 3. Victor Wembanyama’s dominant performance has San Antonio believing it can even the series on the road, while the Knicks aim to reclaim momentum and move within one win of their first championship since 1973.

Tipoff is scheduled for 8:30 p.m. ET. The Knicks enter as 2.5-point favorites, with the over/under set at 216.5 points. After dropping the first two games in San Antonio, the Spurs stole Game 3 in New York behind Wembanyama’s explosive 32-point, eight-rebound, six-assist, three-block, two-steal masterpiece and strong contributions from rookie Stephon Castle.

Wembanyama’s Emergence as the Focal Point

The 7-foot-4 phenom has elevated his play as the series progresses. In Game 3, Wembanyama delivered a full 48-minute effort that turned the tide in the fourth quarter. His ability to dominate both ends of the floor has become the Spurs’ clearest path to victory. Analysts highlight his improved low-post scoring and defensive versatility as keys to sustaining pressure against New York’s physical frontcourt.

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For San Antonio to force a Game 5 back home, Wembanyama must continue anchoring the offense while disrupting the Knicks’ rhythm. His presence forces constant adjustments from New York coach Tom Thibodeau, who must decide between double-teaming the big man or living with his scoring outbursts.

Knicks’ Response and Home Advantage

The Knicks, led by Jalen Brunson, have shown resilience throughout the playoffs. Brunson delivered 32 points in Game 3 but could not overcome the Spurs’ late surge. At Madison Square Garden, the Knicks will lean on their raucous home crowd and defensive identity to reassert control.

New York’s strength lies in its balanced attack and ability to grind out possessions. Players like Karl-Anthony Towns and Mikal Bridges provide secondary scoring and defensive versatility that can counter San Antonio’s length. The Knicks’ 13-game playoff winning streak ended in Game 3, adding urgency to avoid falling into a 2-2 tie.

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Tactical Keys and Adjustments

Coaches on both sides face critical decisions. For the Spurs, maintaining defensive intensity while feeding Wembanyama in advantageous spots will be paramount. San Antonio’s bench, including Castle’s fourth-quarter impact, must provide consistent energy on the road.

The Knicks will likely emphasize containing Wembanyama through help defense and forcing the ball out of his hands. Brunson’s pick-and-roll mastery and New York’s transition game could exploit any lapses in Spurs’ rotations. Rebounding and three-point efficiency are expected to be decisive factors in a series defined by half-court execution.

Series Context and Stakes

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The Finals matchup pits two franchises with storied histories but very different recent paths. The Knicks have built a contender through smart drafting and free agency, while the Spurs have ridden Wembanyama’s meteoric rise following years of rebuilding. A Spurs victory in Game 4 would send the series back to San Antonio with renewed belief, while a Knicks win would put them firmly in the driver’s seat.

Injuries and fatigue could play roles as the series reaches its midpoint. Both teams have managed minutes carefully, but the physical toll of playoff basketball intensifies with each game. Wembanyama’s durability after a strong Game 3 performance will be closely monitored.

Broader Implications

A prolonged series benefits the NBA’s global audience, with stars like Wembanyama and Brunson showcasing the league’s future. Wembanyama’s ability to “bring victory once again” could cement his status as a generational talent capable of leading a championship charge in only his third season.

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For the Knicks, closing out games at home remains a point of emphasis after letting Game 3 slip away. Thibodeau’s defensive schemes have been a hallmark of their success, and adjustments to counter San Antonio’s length will define the remainder of the series.

What to Watch in Game 4

Expect high-intensity basketball from the opening tip. Early foul trouble on either star could shift momentum quickly. Three-point shooting, particularly from the Spurs’ supporting cast, may determine if they can stretch the floor effectively against New York’s pack-line defense.

Fan atmosphere at Madison Square Garden is expected to be electric, providing the Knicks with a tangible home-court edge. The Spurs must withstand the pressure and execute their game plan to force the series back to Texas.

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Analysts project a competitive contest, with models favoring the under on total points due to strong defensive showings in prior games. Individual performances from Wembanyama and Brunson will likely dictate the outcome, as both have shouldered heavy scoring loads.

Historical Parallels and Outlook

The series echoes past Finals battles where young superstars faced veteran-led squads. Wembanyama’s poise under pressure has drawn comparisons to legendary big men, while the Knicks embody a gritty, team-first approach reminiscent of championship clubs from previous eras.

Regardless of Game 4’s result, the matchup has delivered compelling basketball and highlighted the league’s parity at the highest level. As the series continues, focus will remain on execution in critical moments and the ability of star players to elevate their teams.

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The Knicks hold the series advantage and home-court momentum, but Wembanyama’s Game 3 heroics have proven the Spurs are far from finished. Wednesday night’s contest promises another chapter in what has become a hard-fought, entertaining NBA Finals.

Both sides possess the talent and coaching to compete at an elite level. The outcome of Game 4 could shift the narrative dramatically, setting the stage for a memorable conclusion to the 2026 postseason. Fans and analysts alike will be watching to see if Wembanyama can once again deliver a victory that keeps San Antonio’s championship hopes alive.

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Needham raises CECO Environmental stock price target on Thermon deal

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Fifth Third Bancorp (FITB) Presents at Morgan Stanley US Financials Conference 2026 – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Fifth Third Bancorp (FITB) Presents at Morgan Stanley US Financials Conference 2026 – Slideshow

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Canaccord raises Datadog stock price target on AI product growth

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Why is Alibaba ADR stock sliding today?

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Concord Biotech shares gain 6% after USFDA approval for Tofacitinib tablets

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Concord Biotech shares gain 6% after USFDA approval for Tofacitinib tablets
Shares of Concord Biotech rose over 6% to their day’s high of Rs 1,350 on the BSE on Wednesday after the company announced that it had received approval from the U.S. Food and Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Tofacitinib Tablets in 5 mg and 10 mg strengths.

According to the company, the approval covers Tofacitinib Tablets indicated for the treatment of adult patients with moderately to severely active rheumatoid arthritis (RA), active psoriatic arthritis (PsA), active ankylosing spondylitis (AS), moderately to severely active ulcerative colitis (UC), active PsA, and active polyarticular course juvenile idiopathic arthritis (pcJIA).

The regulatory approval has been granted by the U.S. Food and Drug Administration, the company said in its filing. Concord Biotech stated that the approval aligns with its growth strategy and is expected to strengthen its position in the U.S. market. The company added that the clearance allows it to expand its product portfolio and pursue opportunities in the U.S. and international markets.

According to market estimates cited by the company, the U.S. market opportunity for Tofacitinib Tablets across the 5 mg and 10 mg strengths is approximately $500 million. The approval pertains specifically to the company’s ANDA for Tofacitinib Tablets in the two approved dosage strengths. The company said the development supports its long-term growth plans and enhances its ability to participate in the relevant therapeutic segments in the United States.

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The company noted that the approval for Tofacitinib Tablets, 5 mg and 10 mg, is expected to strengthen its presence in the U.S. market while broadening its range of offerings. The approval also provides access to a market that the company estimates at approximately $500 million for the two strengths combined.

Concord Q4 snapshot

The R&D-focused biopharmaceutical company reported a 36.8% year-on-year decline in fourth-quarter net profit at Rs 88.8 crore, compared with Rs 140.4 crore in the corresponding period last year, as lower revenue and margin compression weighed on earnings.
Revenue from operations fell 24.1% to Rs 326.1 crore from Rs 429.9 crore a year earlier. EBITDA for the quarter declined 37.8% year-on-year to Rs 118.5 crore, while the EBITDA margin contracted to 36.4% from 44.3% in the year-ago quarter.
Concord share price is down 36% in the last 1 year. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

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Oppenheimer reiterates ServiceNow stock rating on AI growth outlook

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Opinion: Nimble approach needed for AI

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