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Tata Sponge Iron bids for Grade G 4 coa

Tata Sponge Iron bids for Grade G 4 coa

This tonnage constitutes less than 10 percent of the Company's annual coal requirement.

Tata Sponge Iron Ltd has announced that the Company successfully bid for 24000 tonnes per annum of Grade G 4 coal from Coal India Limited, in a recently held auction of coal linkages for the sponge iron industry.

This tonnage constitutes less than 10 percent of the Company's annual coal requirement.

Tata Sponge Iron Ltd ended at Rs. 664.75, up by Rs. 68.85 or 11.55% from its previous closing of Rs. 595.9 on the BSE.

The scrip opened at Rs. 600 and touched a high and low of Rs. 678 and Rs. 597.3 respectively. A total of 4588321(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 1023.72 crore.

The BSE group 'B' stock of face value Rs. 10 touched a 52 week high of Rs. 678 on 15-Jun-2016 and a 52 week low of Rs. 340 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 678 and Rs. 586 respectively.

The promoters holding in the company stood at 54.5 % while Institutions and Non-Institutions held 3.87 % and 41.63 % respectively.

The stock traded above its 50 DMA.

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