Shares of Monnet Ispat & Energy surged 17 per cent today after the company bagged one coal block in Chhattisgarh on the last day of the auction.
The stock zoomed 15.96 per cent to Rs 65 at the BSE. On the NSE, it jumped 17 per cent to Rs 65.35.
In terms of volume, 9.26 lakh shares of the company changed hands at the BSE and over 30 lakh shares were traded at the NSE during the morning trade.
Monnet Ispat & Energy had yesterday 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.
“Monnet Ispat, highest bidder at Rs 2,619 (per tonne) for Gare Palma IV/7 (coal mine),” Coal Secretary Anil Swarup had tweeted.
The Government was successful in selling all the 19 mines in the first lot of auctions which began on February 14.