JSPL zooms on winning Gare Palma coal blocks

The company has won Gare Palma IV/2 and IV/3 blocks at the ongoing coal block e-auction.

Shares of Jindal Steel and Power were up 17% at Rs 182 amid reports that the company has won Gare Palma IV/2 and IV/3 blocks in fierce bidding at the ongoing coal block e-auctions.

According to reports, the company has won the bids at Rs 108/tonne for both the blocks which have a mining capacity of about 6 mtpa. Other bidders for the said coal blocks include Adani and GMR.

The stock opened at Rs 155 and touched a high of Rs 186. At 13:55PM, over 24 million shares were traded on both the stock exchanges.