Daily News - Wednesday, 27 May 2026
Government of India will sell up to a 2% stake in Coal India Ltd via an Offer for Sale (OFS) (Reuters)
The Government of India will sell up to a 2% stake in Coal India Ltd via an Offer for Sale (OFS), comprising a base offer of 1% equity with an option to sell an additional 1%. The floor price has been set at ₹412 per share, representing about a 10% discount to Coal India’s last closing price. The government currently holds a 63.13% stake in the state‑run coal miner, and the sale is part of its ₹800 billion (USD $9.6 billion) divestment and asset monetisation target for FY27, as outlined in the Union Budget. Coal India remains India’s largest coal producer, supplying over 80% of domestic coal demand, and the OFS is expected to attract institutional investors seeking exposure to the energy sector. Earlier this week, the government also sold an 8% stake in Central Bank of India via OFS, underscoring its aggressive divestment drive. Analysts note that the stake sale will help the Ministry of Finance meet fiscal targets while testing investor appetite amid global energy transition pressures.
Quad FM Meeting in Delhi Unveils Port Project, Critical Minerals Pact (Reuters)
Indian External Affairs Minister S. Jaishankar urged the Australia–India–Japan–US Quad to tackle connectivity choke points, supply chain resilience, manufacturing gaps, and resource concentration, reflecting vulnerabilities from the Strait of Hormuz closure disrupting nearly 20% of global oil and LNG flows. The meeting, attended by Australia’s Penny Wong, Japan’s Toshimitsu Motegi, and U.S. Secretary of State Marco Rubio, was the third ministerial since September 2024 and lasted under an hour. Rubio stressed that the Quad must evolve into a forum of action, calling for concrete steps on maritime security and critical minerals, and confirmed work toward a leaders’ summit later in 2026. Japan highlighted diversification of critical mineral supplies after Beijing halted exports of aerospace and chip‑making materials, underscoring Quad’s role in countering China’s leverage. The Hormuz blockade and China’s military presence in the East and South China Seas dominated discussions, alongside U.S.-Iran conflict dynamics. Analysts warned that without leader‑level engagement, the Quad risks losing strategic weight despite its initiatives to maintain a free and open Indo‑Pacific.
India Cancels 25,000 Tonnes Soymeal Exports, Turns to Africa for Imports (Economic Times)
Indian traders have cancelled 25,000 metric tons of soymeal export contracts the first such washouts since 2021, after domestic soybean prices surged 41% in a month to ₹66,000 per ton, their highest in four years. To offset tight supplies, traders booked 80,000 tons of imports from African nations (Benin, Niger, Togo, Nigeria), where non-GM soybeans command premiums of USD $700-760 (INR ₹58,000-63,000) per ton. Local soymeal export offers for June shipments jumped to USD $695 (INR ₹57,600) per ton FOB, up from USD $475 (INR ₹39,400) a month earlier, making Indian exports uncompetitive. Industry sources noted that the cancellations involved no penalties, but they are rare in the soymeal trade, highlighting the severity of price swings. Imports could rise to a record 800,000 tons by September 2026, compared to just 2,000 tons last year, according to the Soybean Processors Association of India (SOPA). The Commerce Ministry and agricultural exporters warn that supplies will remain tight until the new crop arrives in September-October, forcing India to rely on African imports while North and South American suppliers gain ground in Asian markets.
