16 FEBRUARY 2015AlCircle.com
Hindalco secures Kathautia coal mine in Jharkhand
Edited by : AL CIRCLE
1 min read
Hindalco Industries secured a coal mine in Jharkhand on the second day of the auction, boosting the shares of the company significantly.
Six other contenders were in competition to secure the coveted Kathautia mine in Jharkhard including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the prior allottee Usha Martin.
Hindalco finally won the auction offering INR 2,680 per ton for the good quality coal and has the access to the 26 million tons available in the Kathautia mine.
The company has shown rise in its net profit this year, rising from INR 334 crore reported last year to a net profit of INR 350 crore reported in the last quarter of the present fiscal year.
Six other contenders were in competition to secure the coveted Kathautia mine in Jharkhard including Monnet Ispat & Energy, Rungta Mines, UltraTech Cement and the prior allottee Usha Martin.
Hindalco finally won the auction offering INR 2,680 per ton for the good quality coal and has the access to the 26 million tons available in the Kathautia mine.
The company has shown rise in its net profit this year, rising from INR 334 crore reported last year to a net profit of INR 350 crore reported in the last quarter of the present fiscal year.
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