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Shares of Sesa Sterlite went up by almost 3 per cent after the company’s subsidiary Bharat Aluminium Company (Balco) bagged one more coal block and total two mines in the first tranche of auction.
The Vedanta Group company’s scrip rose 2.89 per cent to Rs 223.70 on the BSE. On the NSE, the stock climbed 2.94 per cent to Rs 223.70.
The scrip was the biggest gainer among the blue-chips on both Sensex and Nifty.
“Gare Palma IV-1 mine closed at Rs 1,585 (per tonne) and the winner is Balco,” a Coal Ministry official had said on Saturday. Earlier, Balco had bagged Chotia mine in Chhattisgarh.
The second round of auction, in which the government has put 21 mines on sale, will begin from February 25.
The companies that have bagged 19 blocks include Reliance Cement, GMR Chhattisgarh, Hindalco, Sunflag Iron and Steel, Jaiprakash Associates, Jaiprakash Power Ventures, OCL Iron and Steel, Bharat Aluminium, Essar Power MP, Jindal Power and UltraTech Cement.
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