A state-owned coal producer's stock rose significantly, defying a market downturn. The company's market value increased substantially, nearing ₹2.6 lakh crore. This surge occurred after the company filed documents for its subsidiary's initial public offering.

The subsidiary, a major contributor to coal production, may see a stake sale of up to 10%. The sale would involve a large number of shares, but the subsidiary would not receive new capital from the offering.

Further information on the company's plans and the subsidiary's role in coal production is available from the source, including details on the potential impact of the initial public offering.