Announced Wed, 5 Aug · 20:47 IST
Gallantt Ispat declared Preferred Bidder for MP coal block
GALLANTT · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-3.1%1-day move
₹624.30
prior close
₹630.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.3-0.4-0.5-0.9-3.1-5.2-4.7-5.3-7.1-6.3————
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AI summary
Gallantt Ispat has been declared the Preferred Bidder for the Dongrital-II coal block in Singrouli, Madhya Pradesh, by the Madhya Pradesh State Mining Corporation. The company won with a 6.5 percent revenue share bid, giving it the right to commercially mine coal at the block. This supports backward integration for the company's steel-making operations. The company is now evaluating next steps for development.
Likely market impact
Positive - secures long-term coal access, supports cost efficiency for steel operations, and reduces dependence on third-party coal purchases.