Home / BUSINESS / Vedanta inches up on expecting coal output from Chotia block to reach 1 MTPA

Vedanta inches up on expecting coal output from Chotia block to reach 1 MTPA

Vedanta is currently trading at Rs. 159.65, up by 0.35 points or 0.22% from its previous closing of Rs. 159.30 on the BSE.

The scrip opened at Rs. 159.40 and has touched a high and low of Rs. 160.55 and Rs. 157.70 respectively. So far 233044 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 290.15 on 09-May-2018 and a 52 week low of Rs. 145.90 on 15-Feb-2019.

Last one week high and low of the scrip stood at Rs. 170.15 and Rs. 156.20 respectively. The current market cap of the company is Rs. 59010.46 crore.

The promoters holding in the company stood at 50.14%, while Institutions and Non-Institutions held 35.15% and 10.69% respectively.

Vedanta is expecting coal output from the mine located in Chhattisgarh (Chotia block) to increase to one million tonnes per annum (MTPA) in near term as it looks to secure 90% of its requirement from linkage and captive block. The output from the captive mine stood at 0.45 million tonnes in the fourth quarter of last fiscal.

Bharat Aluminium (Balco), part of Anil Agarwal-led Vedanta, had bagged Chotia block during the first phase of coal mine auctions held in 2015.

Vedanta is a diversified natural resources company, whose business primarily involves producing oil and gas, zinc- lead-silver, copper, iron ore, aluminium and commercial power.

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