Dalmia Bharat rises as its arm bags coal mine in Madhya Pradesh
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Dalmia Bharat is currently trading at Rs. 1849.00, up by 13.70 points or 0.75% from its previous closing of Rs. 1835.30 on the BSE.
The scrip opened at Rs. 1836.80 and has touched a high and low of Rs. 1853.50 and Rs. 1812.20 respectively. So far 5439 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 1989.00 on 17-Feb-2023 and a 52 week low of Rs. 1212.60 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1933.80 and Rs. 1812.20 respectively. The current market cap of the company is Rs. 34698.87 crore.
The promoters holding in the company stood at 55.86%, while Institutions and Non-Institutions held 20.70% and 23.45% respectively.
Dalmia Bharat’s subsidiary -- Dalmia Cement (Bharat) has bagged coal mine in Madhya Pradesh on the first day of the latest round of commercial coal mine auction held on February 29, 2023. Other successful bidders are as Shree Cement made the highest bid for a coal mine in Chhattisgarh, Rungta Sons emerged as highest bidder for a coal mine in Odisha, Samlok Industries made the highest bid for a mine in Maharashtra. Orissa Metallurgical Industry submitted the closing bid for a mine in West Bengal and Rama Cement Industries bagged a coal mine in Madhya Pradesh.
MH Natural Resources emerged as the highest bidder for a coal block in Maharashtra and RCR Steel Works made the highest bid for a mine in Jharkhand. CG Natural Resources bagged coal block in Chhattisgarh. The auction of a coal block in Jharkhand was underway. The government had launched the auctions of coal mines for commercial mining under the sixth round and second attempt of fifth round on November 3, 2022. Forward auctions for theses mines have been started on February 27, 2023 and on the 1st day of the e-auction, 10 coal mines were put up for auction. Six coal mines are fully explored blocks and four coal mines are partially explored blocks.
The total geological reserves for these 10 coal mines are 1,866 million tonnes. The cumulative peak rated capacity for these coal mines is 7.9 million tonnes per annum (MTPA) (excluding partially explored coal mines). These coal mines upon operationalisation will generate annual revenue of Rs 990 crore calculated. These mines will attract capital investment of Rs 1,185 crore and provide employment to 10,681 people.
Dalmia Bharat has emerged as one of the most respected cement manufacturers in India, contributing to nation-building through adequate capacity creation, consistently high quality standards and value-added products.
