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Coal India board approves up to 35% divestment in SECL via OFS and up to 25% in Mahanadi Coalfields
In a meeting held today, the board approved the divestment of up to 25% of equity shares held by CIL in SECL through an Offer for Sale (OFS), along with the issuance of fresh equity shares aggregating up to 10% of the post-issue paid-up equity share capital, in one or more tranches, through an Initial Public Offer (IPO) or through other permissible market routes.
The board of CIL also approved the divestment of a 25% stake in MCL via OFS in one or more tranches through an IPO or other permissible market routes in the domestic market.
The board had already approved their listing on the exchanges through separate circular resolutions of December 23, 2025.
The company said that it will communicate about its decision to the Ministry of Coal (MoC) for onward submission to DIPAM. The proposed listings will remain subject to the receipt of regulatory approvals.
SECL is amongst the highest coal producing subsidiary company of Coal India and its coal mines are spread across Chhattisgarh and Madhya Pradesh.
SECL operates 60 coal mines, of which 35 coal mines lies in Chhattisgarh State, while rest 25 coal mines are situated in Madhya Pradesh state. And of these 60 no of coal mines, 40 mines are worked by underground method of mining while rest 20 no of mines are opencast mines.Meanwhile, Mahanadi Coalfields is Miniratna company carved out of South Eastern Coalfields Limited in 1992 with its headquarters at Sambalpur.
Coal India shares today ended nearly 3% lower on the NSE at Rs 455.25.
The Nifty stock has outperformed its benchmark with returns of 12% over a 1-year period compared to approximately 4% fall in the heartbeat index.
Coal India shares are currently trading above their 50-day and 200-day simple moving averages (SMAs) of Rs 434 and Rs 399, respectively, according to Trendlyne data.
The state-owned company reported a 16% year-on-year (YoY) decline in its consolidated net profit at Rs 7,166 crore in the third quarter. The company has declared third interim dividend at Rs 5.5 per share for the financial year 2026. Revenue from operations in the December quarter fell 5% YoY to Rs 34,924 crore. This compares with Rs 36,858 crore in the last year quarter.
(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)
The Women’s National Basketball Player’s Association ratified the terms of a new collective bargaining agreement Monday, calling it “transformational” and “bigger than basketball.”
The new CBA begins this season and runs through 2032.
When asked her opinion of the most important outcome from the deal, WNBPA President Nneka Ogwumike had two words: “Bank accounts.”
“Being able to have your worth tied mostly in your salary is all that we’ve been fighting for, and it’s what we were able to achieve,” Ogwumike told CNBC Sport in an interview.
The deal increases the average player salary to $583,000 in 2026 with the potential to increase to more than $1 million by 2032. The maximum salary for players will now be $1.4 million in 2026 and could grow to more than $2.4 million by 2032, based on current WNBA financial projections.
Ogwumike acknowledged the salary increases may change players’ plans for how they spend their off-seasons.
The average WNBA salary was $120,000 in 2025, spurring many players to play abroad or in other leagues, such as 3-on-3 league Unrivaled, for extra money.
“Prioritizing where you want to play is going to look a lot different now that we’ve been able to negotiate a structure, a salary structure, that is tied to the revenue of the business,” Ogwumike said.
Several WNBA players, including five-time WNBA All-Star Napheesa Collier, have expressed a loss of confidence in WNBA Commissioner Cathy Engelbert in recent months, criticizing her empathy and communication with players. Ogwumike expressed optimism that players will be able to work in tandem with Engelbert under the new CBA structure.
“I told her that we’re standing here with you, Cathy,” Ogwumike said. “We were able to come to this deal and go through the process of this deal, however bumpy or smooth it was, we got here. It’s important for her to understand that we as players are at the table with her and all WNBA leadership to have achieved something that’s incredibly historical. So, I feel like there probably isn’t a better way to represent us settling our differences and moving forward in a league that we all care about then by signing this deal.”
Watch CNBC Sport’s full interview with WNBPA President Nneka Ogwumike.
— CNBC’s Jessica Golden contributed to this report.
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U.S. Energy Secretary Chris Wright joins FOX Business’ Lauren Simonetti to discuss how a potential peace deal with Iran could reopen key oil routes and bring relief to Americans facing rising gas prices.
Energy markets could see a sharp reversal if tensions ease in the Middle East, as officials say a diplomatic breakthrough could quickly restore critical oil flows.
U.S. Energy Secretary Chris Wright joined FOX Business’ Lauren Simonetti on “Varney & Co.” to discuss how a potential agreement with Iran could help reopen the Strait of Hormuz and stabilize prices after weeks of disruption.
U.S. Energy Secretary Chris Wright speaking during a panel. (Anna Moneymaker/Getty Images / Getty Images)
Wright indicated that energy markets are closely tied to developments in the region, emphasizing how quickly conditions could shift if a deal is reached.
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“They would go down quite a bit. If we see a pathway to have the Strait of Hormuz open soon and energy flowing again, you’d see energy prices drop pretty significantly,” Wright said.
EPA Administrator Lee Zeldin joins ‘Mornings with Maria’ to discuss President Donald Trump’s Iran strategy, falling oil prices, and the administration’s sweeping deregulation push aimed at boosting U.S. energy dominance and lowering costs.
The comments come as global markets react to constrained movement through one of the world’s most critical energy chokepoints, where even temporary disruptions have pushed fuel costs higher for consumers.
Wright suggested the path forward depends on whether Iran is willing to de-escalate and negotiate.
KEVIN O’LEARY FORECASTS GLOBAL POWER SHIFT IN STRAIT OF HORMUZ AS IRAN CONFLICT RATTLES OIL MARKETS
“That could happen if a peace agreement is reached… If Iran thinks enough is enough, and they’re willing to make a deal… Then there’ll be a deal,” Wright said.
FOX Business’ Stuart Varney examines the escalating global energy crisis fueled by Middle East conflict and evaluates the potential long-term economic and political consequences for the American consumer.
For now, officials say short-term market volatility is expected as the situation continues to develop.
Toyota 7203 -2.23%decrease; red down pointing triangle Motor will invest $1 billion in its Kentucky and Indiana manufacturing operations as part of the company’s pledge to invest up to $10 billion in the U.S.
The investment includes $800 million to prepare its Kentucky plant for Toyota’s second battery electric vehicle, as well as to increase capacity for Camry and RAV4 assembly lines, the Japanese automaker said Monday.
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