Coal India share price jumps 3% in weak market as PSU secures work order worth over ₹1,000 crore

The stock gained as much as 3.1% to ₹458.85 on the NSE.

Coal India said that the letter of award (LoA) for setting up a 750 MWh (187.5 MW for 4 hours) BESS plant at Choutuppal @ ₹3.14 lakh/MW/month. The project is estimated to be executed within 18 months from the signing of BESPA.

BESPA stands for Battery Energy Storage Purchase Agreement.

It is a contract used in the energy sector, specifically for projects involving large-scale battery energy storage systems (BESS).

The estimated cost of the project is ₹1,057.09 crore.

Coal India: Recent updates

Recently, the company's board gave an in-principle nod for divesting up to 25% of its equity stake in subsidiary South Eastern Coalfields Ltd (SECL) through an Offer for Sale (OFS), alongside a fresh issuance of up to 10% equity through an initial public offering (IPO) or other market routes.

The decision was taken at the CIL board meeting held on Monday.

The proposed divestment and fresh issue, aggregating up to 35% of SECL's post-issue paid-up equity capital, will be executed in one or more tranches in the domestic market.

"Further, the Board of CIL, at its meeting held on 23.03.2026, has, inter alia, accorded in-principle approval for divestment of up to 25% of equity shares held by Coal India Limited (CIL) in SECL through an Offer for Sale (OFS), along with issuance of fresh equity shares of SECL aggregating up to 10% of the post-issue paid-up equity share capital, in one or more tranches, through an Initial Public Offer (IPO) and/or other permissible market routes in the domestic market," Coal India said in a filing to BSE.

Mahanadi Coalfields Limited

In a separate filing, Coal India stated that the board has granted in-principle approval for divesting up to 25% of its equity stake in Mahanadi Coalfields Limited (MCL) through an offer for sale (OFS) in one or more tranches.

The divestment will be executed via Initial Public Offering (IPO) or other permissible market routes in the domestic market.