Vedanta surges on getting declared as highest bidder for Ghogharpalli & its Dip Extension Coal Block
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Vedanta is currently trading at Rs. 314.55, up by 9.10 points or 2.98% from its previous closing of Rs. 305.45 on the BSE.
The scrip opened at Rs. 318.40 and has touched a high and low of Rs. 320.90 and Rs. 304.60 respectively. So far 2506365 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 440.75 on 11-Apr-2022 and a 52 week low of Rs. 206.10 on 01-Jul-2022.
Last one week high and low of the scrip stood at Rs. 320.90 and Rs. 263.95 respectively. The current market cap of the company is Rs. 117221.87 crore.
The promoters holding in the company stood at 69.69%, while Institutions and Non-Institutions held 20.25% and 10.06% respectively.
Vedanta has been declared as the highest bidder for Ghogharpalli and its Dip Extension coal block, located in Sundargarh district, Odisha under Tranche V of commercial coal block auction conducted by Ministry of Coal. The coal block is an optimal fit for the Company’s Jharsuguda smelter given its logistical location and annual capacity. The mine has total reserves of 1,288 million tonnes and an estimated per annum capacity of 20 million tonnes. Once operational, it will provide fuel security, improve power availability and further strengthen the company’s aluminium operations and performance.
Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.
