Hindalco bags one more coal mine in auction; stk gains
Hindalco had on February 15 bagged Kathautia mine in Jharkhand. Later, it was awarded with Gare IV/5 mine in Chhattisgarh on February 19.
By ET Online | Updated:
MUMBAI: Shares of Hindalco Industries gained momentum on Monday after the company said that it has bagged one more mine in the ongoing coal auction, taking the total number of blocks to three.
The three coal mines include two in Chhattisgarh, and one in Jharkhand.
Hindalco's bid came at Rs 3,001 per tonne, which was the highest in the auction for Gare Palma IV/4.
Hindalco had on February 15 bagged Kathautia mine in Jharkhand. Earlier, it was awarded Gare IV/5 mine in Chhattisgarh on February 19.
The Gare Palma IV/4 mine has extractable reserves of 12.30 million tonnes (MT).
At 09:25 a.m.; the stock was at Rs 160.30, up 2.49 per cent, on the BSE. It touched a high of Rs 161.70 and a low of Rs 159.80 in early trade.
The three coal mines include two in Chhattisgarh, and one in Jharkhand.
Hindalco's bid came at Rs 3,001 per tonne, which was the highest in the auction for Gare Palma IV/4.
Hindalco had on February 15 bagged Kathautia mine in Jharkhand. Earlier, it was awarded Gare IV/5 mine in Chhattisgarh on February 19.
The Gare Palma IV/4 mine has extractable reserves of 12.30 million tonnes (MT).
At 09:25 a.m.; the stock was at Rs 160.30, up 2.49 per cent, on the BSE. It touched a high of Rs 161.70 and a low of Rs 159.80 in early trade.
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