Coal India Shares Soar 3% as Board Approves Listing of MCL, SECL Subsidiaries

• Coal India shares surged 3% on December 24 after its board gave in-principle approval for the listing of Mahanadi Coalfields Limited (MCL) and South Eastern Coalfields Limited (SECL).
• The stock reached Rs 412.40, a seven-month high, extending gains for the sixth consecutive session.
• The Ministry of Coal had advised Coal India on December 16 to list MCL and SECL by the upcoming financial year 2027.
• SECL, a Mini Ratna PSU, produced 16.75 crore tonnes of coal in 2024-25, with reserves in Chhattisgarh and Madhya Pradesh. MCL, also a Miniratna, was formed in 1992.
• Separately, reports suggest Coal India's subsidiary Bharat Coking Coal (BCCL) plans a Rs 1,300-crore IPO, with Coal India offloading 10% equity.

Why It Matters: Coal India's strategic move to list subsidiaries MCL and SECL boosts shares, signaling future growth.