PRE-MARKET INDIAN STOCKS NEWS: Coal India Ltd. (COAL IS) board approved divestment of up to 25% stake in South Eastern Coalfields and gave in-principle approval to divest up to 25% stake in Mahanadi Coalfields
Coal India Ltd. (COAL IS) - Co. board approved divestment of up to 25% stake in South Eastern Coalfields via OFS and issuance of up to 10% stake via IPO, while board also gave in-principle approval to divest up to 25% stake in Mahanadi Coalfields. (Moneycontrol)
GR Infraprojects Ltd. (GRINFRA IS) - Co. received NHAI order worth INR 24.41bln for construction of a greenfield section of NH-33 in Bihar. (Moneycontrol)
InterGlobe Aviation Ltd. (INDIGO IS) - Co. approved appointment of Aloke Singh as Chief Strategy Officer effective April 6. (Moneycontrol)
Wipro Ltd. (WIPRO IS) - Co. expanded operations in South Korea with launch of a new innovation lab under Wipro Innovation Network. (Moneycontrol)
Coal India Ltd.'s board decision to divest up to 25% stakes in both South Eastern Coalfields and Mahanadi Coalfields indicates a strategic shift towards monetizing assets, potentially enhancing liquidity for future investment. This move could also attract investor interest in the upcoming IPO, especially in the context of regeneration within the coal sector amid rising demand, reflecting broader trends in commodities and regional market dynamism.