Miners Surge After Government's Move to Auction Coal Blocks

Shares in Jindal Steel and Power gained 7 per cent, while Hindalco Industries was up 2.2 per cent on Tuesday.

The government said on Monday it would auction off coal blocks after the Supreme Court cancelled allocations in September.

Government 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.

Copyright: Thomson Reuters 2014

Unlock this article for free
Sign up to access exclusive stories, fewer ads, and a personalised experience.
Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source