Stocks

GVK Power gains 5% on securing coal supply for Punjab plant

BL Internet Desk Chennai | Updated on January 09, 2018 Published on December 26, 2017

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Shares of GVK Power & Infrastructure Ltd jumped as much as 4.9 per cent on Tuesday as the company has managed to secure coal supplies for its 2x270 MW thermal power plant in Punjab.

Following a strong open at Rs 18.35 against the previous close of Rs 17.50, the scrip touched an intraday high of Rs 18.35 on the BSE. In terms of equity volume, 2.05 lakh shares exchanged hands in the morning trade.

At 11.55 a.m., the shares were trading up by 4.86 per cent at Rs 18.35 on the BSE. On the NSE, the stock was up 4.83 per cent at Rs 18.35.

GVK Power (Goindwal Sahib) Ltd, a subsidiary of the company, has received letters from Coal India Ltd declaring it as the provisional successful bidder for award of coal of the thermal power plant located at Taran Taran, Goindwal Sahib district in Punjab. While from CCL, with source grade of G11, it has been allocated 17,00,000 tonnes, from Korea Rewa, with grade G6, it has been allocated 6,300 tonnes.



Published on December 26, 2017
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