Sarda Energy & Minerals surges on getting LoA for coal mine operation
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Sarda Energy & Minerals is currently trading at Rs. 1118.55, up by 23.45 points or 2.14% from its previous closing of Rs. 1095.10 on the BSE.
The scrip opened at Rs. 1107.70 and has touched a high and low of Rs. 1145.00 and Rs. 1107.70 respectively. So far 6348 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1358.10 on 18-Apr-2022 and a 52 week low of Rs. 705.40 on 20-Jun-2022.
Last one week high and low of the scrip stood at Rs. 1145.00 and Rs. 1090.60 respectively. The current market cap of the company is Rs. 3942.44 crore.
The promoters holding in the company stood at 72.64%, while Institutions and Non-Institutions held 5.37% and 22.00% respectively.
The South Eastern Coalfields (SECL) has issued Letter of Acceptance (LoA) to Sarda Energy & Minerals against Company’s bid for the Re-opening, Salvaging, Rehabilitation, Development and Operation of Kalyani Underground Mines, in the state of Chhattisgarh on revenue sharing of 4.5% basis. The necessary agreements shall be executed in due course as per the terms of the LoA.
Sarda Energy & Minerals (SEML) is one of the lowest cost producers of steel (sponge iron, billets, ingots, TMT bars) and one of the largest manufacturers and exporters of ferro alloys in India.
