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Coal India Limited's board on Monday gave an in-principle approval to divest up to 35% stake in its subsidiary South Eastern Coalfields Limited (SECL). The board also approved up to a 25% stake sale in another wholly-owned subsidiary Mahanadi Coalfields Limited (MCL). 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.)

In the wake of the HDFC Bank crisis triggered by chairman Atanu Chakraborty's surprise quitting, Sebi chairman Tuhin Kanta Pandey on Monday said independent directors need to act responsibly, and back up any insinuations with evidence. In comments that came days after problems at the largest private-sector lender, Pandey said independent directors like Chakraborty play a very important role in protecting minority shareholders' interests on the board and outlined the process for voicing concerns as per the statutes. Chakraborty resigned, citing concerns about values and ethics, which led to widespread worries about governance at the systemically important bank and a sharp correction in its stock prices as investors became wary. Reading from the code of conduct for independent directors (ID), Pandey said any concern about the functioning of a company or a proposed action needs to be taken up with the board, and if the same is not resolved, include the same in the minutes of the board meeting. Pandey said the IDs need to "act responsibly", and added that they cannot keep things "vague"."Obviously, no one is expected to make any insinuations without proper evidence and recording because this has an impact on the minority shareholders' interests. The independent directors have to be actually responsible in terms of whatever they say and record," he said. Declining to spell out Sebi's stance in the matter, Pandey stuck to reading the statutes but added that the capital markets regulator will go into whatever is there on the record. "Strategic detail of an investigation cannot be discussed in a press conference," Sebi's whole-time member Kamlesh Varshney said.Pandey admitted that IDs have explicit powers to question a company and so on, including at forums like the audit committee or the remuneration committees, they need to be responsible and ensure minority investor interest is protected.It can be recalled that the HDFC Bank board members, including the chief executive and managing director Sashidhar Jagdishan, have said that they were "baffled" by Chakraborty's actions because the former bureaucrat from the Gujarat cadre did not back up his claims.Pleas to relook at the words in the resignation letter, where Chakraborty cites concerns on ethics and values, were also ignored, as per the directors.Three senior executives have been sacked by the bank in the immediate aftermath of the resignation for mis-selling.

Ace investor Ashish Kacholia on Monday sold his entire stake in Brand Concepts via a bulk deal valued at Rs 3.9 crore. The shares were purchased by Suryavanshi Commotrade Private Limited, a Kolkata-based unlisted commodity trading and financial services firm.Brand Concepts is a fashion retail company, specialising in curating travel gear, handbags and lifestyle accessories.Kacholia offloaded nearly 1.8 lakh shares in the company that represented 1.44% equity. The shares were sold at a price of Rs 217 apiece, which was at a 5% discount over the Friday closing price of Rs 228.90 on the BSE.The stock today ended at Rs 215.50, falling, by Rs 13.40, down 6% from the previous close.Also read: BEW Engineering bulk deal: Ashish Kacholia exits SME company as stock slumps 44% in a yearKacholia's stake sale comes following a significant underperformance in the microcap counter. It has plunged 36% over a one-year period amid continued weakness in the overall smallcap segment. It has slipped below its 50-day and 200-day simple moving averages (SMAs) of Rs 271 and Rs 315, respectively, according to Trendlyne data.Company's current market capitalization stands at Rs 269 crore.Kacholia, fondly called the ‘Big Whale’ has investments in at least 50 stocks as per the public shareholding data. The net worth of his portfolio is Rs 2,420 crore according to Trendlyne. Some of his portfolio stocks include Shaily Engineering, Xpro, Safari Industries, Balu Forge, Faze Three, Brand Concepts, Stove Kraft and Aeroflex Industries.Kacholia has made his latest bet on a smallcap dry fruit company Aelea Commodities, buying over 7.73 lakh shares via a bulk deal on Friday. The deal was valued at Rs 9.3 crore. The shares were purchased from Suryavanshi Commotrade Private Limited, which exited by selling its entire stake at a price of Rs 120.50 per share.Kacholia's bought these shares following a significant erosion in its price. The microcap counter has plunged 36% over a one-year period. The stock is down 21% in 2026 so far.Read more: Aelea Commodities bulk deal: Ashish Kacholia bets Rs 9.3 crore on a microcap that is down 36% in a year(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

IndiGo, India's largest airline, on Monday announced the appointment of former Air India Express Managing Director Aloke Singh as its Chief Strategy Officer.The appointment comes less than two weeks after the sudden resignation of IndiGo's CEO Pieter Elbers."Singh will lead the company's long-term strategic planning function and drive enterprise-wide transformation initiatives focused on accelerating growth, enhancing operational efficiency and strengthening competitive positioning in a rapidly evolving global aviation landscape."He will partner closely with the leadership team on cross-functional priorities designed to improve agility, elevate customer experience and deliver sustainable shareholder value," IndiGo said in a statement.IndiGo’s Managing Director, Rahul Bhatia, said Singh brings an exceptional blend of strategic vision and operational depth.