Jindal Steel, Hindalco surge after govt's move to auction coal blocks

Jindal Steel, Hindalco surge after govt's move to auction coal blocks
Workers drill at an open cast coal field at Dhanbad district in Jharkhand September 18, 2012.

INDIA - Jindal Steel and Power Ltd (JNSP.NS) gains 7 per cent, while Hindalco Industries Ltd (HALC.NS) is up 2.2 per cent.

India said on Monday it would auction off coal blocks after the Supreme Court cancelled allocations in August.

India also said winners of the coal block allocations would have to pay back previous holders of the permits for their investment with a 12 per cent return, according to local media.

More about

Purchase this article for republication.

BRANDINSIDER

SPONSORED

Most Read

Your daily good stuff - AsiaOne stories delivered straight to your inbox
By signing up, you agree to our Privacy policy and Terms and Conditions.