JSPL surges after power generation unit wins coal block in Chattisgarh

Jindal Steel & Power jumped 7.04% to Rs 198.50 at 09:33 IST on BSE after the company's power generation unit won the Tara coal block in Chattisgarh on the third day of coal auctions for schedule III category mines held on Saturday, 7 March 2015.

Meanwhile, the BSE Sensex was down 353.08 points, or 1.2%, to 29,095.87

On BSE, so far 5.39 lakh shares were traded in the counter, compared with an average volume of 10.99 lakh shares in the past one quarter.

The stock hit a high of Rs 200.90 and a low of Rs 194.30 so far during the day. The stock hit a 52-week high of Rs 350 on 9 June 2014. The stock hit a 52-week low of Rs 125.05 on 17 December 2014.

The large-cap company has an equity capital of Rs 91.49 crore. Face value per share is Re 1.

Jindal Steel & Power (JSPL)'s power generation unit Jindal Power won the Tara coal block in Chattisgarh for a closing bid of Rs 126 per tonne on the third day of coal auctions for schedule III category mines held on Saturday, 7 March 2015. The Tara coal block was reserved for the power sector. The Tara coal block has a total extractable reserve of 166.92 million tonnes and was earlier allotted to Chattisgarh Mineral Development Corporation.

On a consolidated basis, JSPL reported net loss of Rs 1618.78 crore in Q3 December 2014 as compared to net profit of Rs 561.51 crore in Q3 December 2013. Net sales fell 2.6% to Rs 4973.71 crore in Q3 December 2014 over Q3 December 2013.

JSPL is one of India's major steel producers with a significant presence in sectors like mining, power generation and infrastructure.

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