Jindal Steel and Power gains on winning Tara coal block
The stock rallied 7% to Rs 198 on BSE in otherwise weak market.
Jindal Steel and Power Limited (JSPL) has rallied 7% to Rs 198 on BSE in otherwise weak market on reports that the Naveen Jindal-owned Jindal Power won the Tara coal block in Chhattisgarh with a bid of Rs 126 a tonne.
Jindal Power is a power generation unit of JSPL. The Tara coal block was reserved for the power sector.
The Tara block, previously owned by the Chhattisgarh Mineral Development Corporation, is touted one of the richest mines in the list of blocks in the second phase of the auction. CLICK HERE TO READ FULL REPORT.
The stock opened at Rs 195 and touched high of Rs 201 on BSE. Till 1236 hours, a combined 10.20 million shares changed hands on the counter till noon deals on BSE and NSE.
Jindal Power is a power generation unit of JSPL. The Tara coal block was reserved for the power sector.
The Tara block, previously owned by the Chhattisgarh Mineral Development Corporation, is touted one of the richest mines in the list of blocks in the second phase of the auction. CLICK HERE TO READ FULL REPORT.
The stock opened at Rs 195 and touched high of Rs 201 on BSE. Till 1236 hours, a combined 10.20 million shares changed hands on the counter till noon deals on BSE and NSE.