SVC Resources hits a high as traders mine for growth

Better-than-expected performance by the mining sector, which grew over 12% in February, has encouraged a section of operators to increase their exposure to mining companies. The main beneficiary of the buying binge was SVC Resources, an integrated mining company, which surged to a new high on Tuesday.

The stock ended over 3% higher at Rs 200. According to brokers, the recent acquisition of exclusive mining rights at Dhamki in Jabalpur district of Madhya Pradesh, will help the company report better earnings in the coming quarters.