NEW DELHI: Shares of Jindal Steel & Power (JSPL) gained 3 per cent in Friday's trade after the Naveen Jindal-owned company said its subsidiary Jindal Power has been declared as the successful bidder for a block of Gare Palma coal mine in Chhattisgarh.
Following the development, the stock rose 2.53 per cent to hit a high of Rs 272.80 on BSE.
In a statement, Jindal Steel and Power (JSPL) said the coal ministry has declared Jindal Power as the successful bidder for Gare Palma IV/1 Mine. The company said this in the post market hours of Thursday.
"Jindal Power Ltd won (the) auction...at 25 per cent bid premium of the representative price. We are thankful to the Ministry of Coal for declaring us as the successful bidder," JSPL Managing Director V R Sharma said in the statement.
A part of the OP Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors.
Following the development, the stock rose 2.53 per cent to hit a high of Rs 272.80 on BSE.
In a statement, Jindal Steel and Power (JSPL) said the coal ministry has declared Jindal Power as the successful bidder for Gare Palma IV/1 Mine. The company said this in the post market hours of Thursday.
"Jindal Power Ltd won (the) auction...at 25 per cent bid premium of the representative price. We are thankful to the Ministry of Coal for declaring us as the successful bidder," JSPL Managing Director V R Sharma said in the statement.
A part of the OP Jindal Group, JSPL has presence in steel, power, mining and infrastructure sectors.
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