Monnet Ispat & Energy has bagged one coal block in Chhattisgarh on the last day of the auction, bringing down the curtains on the first phase of coal auctions that will fetch the states over Rs 1 lakh crore. The company was the highest bidder at Rs 2,619 (per tonne) for Gare Palma IV/7 (coal mine).
Gare Palma IV-7 mine in Chhattisgarh, earmarked for the non-power sector, was the most sought after one in the current lot put on auction in the first tranche.
Monnet Ispat is engaged in the business of sponge iron, steel ingot & billets and coal mining.
Monnet Ispat & Energy is currently trading at Rs. 64.25, up by 8.20 points or 14.63% from its previous closing of Rs. 56.05 on the BSE.
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