Supreme Court rejects BCCL petition, firm to pay Rs 46.20 crore plus interest

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BHARATCOAL · price

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Price reactionminutes from the announcement price · days from the prior close

-1.5%Reaction day

₹32.45

prior close

₹32.55

announcement price

After-mkt

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Nifty Smallcap 250market-1.2%-0.3% vs market

Oil Gas & Consumable Fuels peers, median of 39sector · sector level-0.8%-0.7% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty Smallcap 250 and 0.7 pts less than its Oil Gas & Consumable Fuels peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

-1.5-1.2-0.3-0.8-0.7

Next day

-2.0-1.1-0.9-0.8-1.2

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UpDownMarket · Nifty Smallcap 250Sector · Oil Gas & Consumable Fuels peers, median of 39Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Bharat Coking Coal has lost a Supreme Court case in connection with a 2010 contract given to AT-Libra BPL joint venture for hiring heavy earth moving machinery at the Golukdih coal project in Dhanbad. The top court upheld earlier orders directing BCCL to pay Rs 46.20 crore along with interest at 10.5 percent per annum. The company said it has been advised to file a review petition against the order. The dispute covers equipment hiring for overburden removal and coal transportation work.

Likely market impact

Negative for shareholders. Company faces a firm payout of Rs 46.20 crore plus continuing interest at 10.5 percent a year, with limited legal avenues left.