Coal auction: Brinda and Sasai bidding closes at Rs1,804 per tonne
The auction process is still under way for two more blocks, Jitpur and Moitra, which would be closed by end of the day
Mumbai: In the second round of coal auctions on Wednesday, bidding for the Brinda and Sasai coal block in Jharkhand closed at ₹ 1,804 per tonne with Usha Martin Ltd submitting the closing bid.
The auction process is still underway for two more blocks—Jitpur and Moitra—which would be closed by the end of the day. All blocks are part of the Schedule III category of mines, for which auction process was kickstarted on Wednesday.
Brinda and Sasai coal block was earlier allotted to Abhijeet Infrastructure and has extractable reserves of 15.2 million tonnes.
Usha Martin ltd is a leading wire rope manufacturer.
Usha Martin shares rose 15.88% to ₹ 33.20 per share on Wednesday at 1.18 pm, while the benchmark index Sensex gained 0.67% to 29790.87 points.
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