Coal India board to meet for buyback on Monday

Shares of Coal India will remain in focus on Monday, as its board will consider a proposal for buyback. If approved, this would be the second buyback by the Maharatna company in two years. The Centre currently owns 72.90 per cent stake in Coal India. Investors would be keen to know the issue size and buyback price, besides the mode of purchase — through open market or tender route on proportionate basis. If it opts for the latter, then the record date would also be a crucial factor.