Jindal Steel & Power bags new contract; stock rises 2 per cent

Jindal Power Limited (JPL), a subsidiary of Jindal Steel & Power Limited (JSPL) announced on Thursday after the market hours that it has been declared a successful bidder for Gare Palma IV/1 coal mine by the Ministry of Coal.  

The company won an auction for Gare Palma IV/1 coal mine at a 25 per cent bid premium of the representative price. V R Sharma, MD of JSPL expressed happiness and was thankful to the Ministry of Coal for declaring them as the most successful bidder.  

JSPL is a leading Indian infrastructure conglomerate with a presence in three sectors mainly power, steel & mining. The company, with an investment of Rs 90,000 crore across the globe, is continuously scaling its capacity utilisation and also, working towards efficient management while contributing towards building a self-reliant India.   

The shares of Jindal Steel & Power reacted positively and were up by 2 per cent during the early trading session on Friday.