Hindalco bags Kathautia coal mine in auction; stk gains
The company last week reported a net profit of Rs 350 crore, as compared to a net profit of Rs 334 crore in the corresponding quarter last fiscal.
By ET Online | Updated:
MUMBAI: Shares of Hindalco Industries gained momentum in trade after the company walked away with a coal mine in Jharkhand on second day of coal auction.
Hindalco Industries beat six companies including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the prior allottee Usha Martin to bag the Kathautia mine in Jharkhand by offering Rs 2,860 per tonne of coal. The mine has good quality coal reserves of around 26 million tonnes.
The company last week reported a net profit of Rs 350 crore, as compared to a net profit of Rs 334 crore in the corresponding quarter last fiscal.
The sales in the October-December quarter increased to Rs 8,603 crore, up 19.5 per cent, from Rs 7,200 crore, in year-ago period.
At 10:35 a.m.; the stock was at Rs 156.10, up 1.69 per cent, on the BSE. It touched a high of Rs 158 and a low of Rs 154.50 in trade today.
Hindalco Industries beat six companies including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the prior allottee Usha Martin to bag the Kathautia mine in Jharkhand by offering Rs 2,860 per tonne of coal. The mine has good quality coal reserves of around 26 million tonnes.
The company last week reported a net profit of Rs 350 crore, as compared to a net profit of Rs 334 crore in the corresponding quarter last fiscal.
The sales in the October-December quarter increased to Rs 8,603 crore, up 19.5 per cent, from Rs 7,200 crore, in year-ago period.
At 10:35 a.m.; the stock was at Rs 156.10, up 1.69 per cent, on the BSE. It touched a high of Rs 158 and a low of Rs 154.50 in trade today.
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