Coal news and updates

Aditya Birla Group controlled Ultratech Cement Ltd Thursday said it has won two coal linkages for its cement plants in Maharashtra.

 

The company had participated in the auction of coal linkages for cement sector and won Penganga OC mines and Mana Incline mine in Maharashtra, the company said in a statement to BSE.

 

Ultratech has won the Penganga OC mine for a basic floor price of Rs.1,510 and a premium of Rs.20 per tonne. The bid price for the Mana Incline mine was at a basic floor price of Rs.2,060 per tonne, the company said in the statement.

 

A formal communication vesting the said linkages in the company’s favour is expected in due course and it intends to participate in the future linkage auctions for its plants located strategically near the coal mines, the company said.

 

Ultratech Cement Ltd rose 0.41% to Rs.3,385.00 on Thursday while India’s benchmark Sensex Index rose 0.19% to 27,219.15 points.

SOurce: Livemint