JSPL gains on bagging Gare Palma IV/1 coal mine
Jindal Steel & Power (JSPL) rose 1.71% to Rs 270.60 after the company said its subsidiary, Jindal Power, was declared the successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal.
"Jindal Power Ltd. won an auction for Gare Palma IV/1 coal mine at 25% bid premium of the representative price. We are thankful to the Ministry of Coal for declaring us as the successful bidder", said V R Sharma, MD, JSPL in a statement issued after market hours yesterday, 31 December 2020.
On a consolidated basis, JSPL's net loss stood at Rs 706.49 crore in Q2 September 2020 steeply higher from Rs 399.31 crore reported in Q2 September 2019. Net sales rose by 16.7% year-on-year to Rs 9,002.64 crore in Q2 September 2020.
JSPL is an industrial powerhouse with a dominant presence in steel, power, mining and infrastructure sectors.
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First Published: Jan 01 2021 | 9:29 AM IST