 "UltraTech Cement hits new high on winning two coal linkages")
UltraTech Cement has hit fresh high at Rs 3,739, up 1.4% on the National Stock Exchange (NSE) in an otherwise subdued market, after the cement maker announced that it won two coal linkages from Dipka Mines (SCDG) in Chhattisgarh in an auction.
UltraTech Cement said that it won two coal linkages of 27,600 tons and 19,700 tons from Dipka Mines in Chhattisgarh after participating in the auction of coal linkages for captive power plant sub-sector.
The company said that both the coal linkages were won at a premium of Rs 150 over notified price of Rs 970 per ton.
A formal communication vesting the linkages in the company's favour is expected in due course.
The company said it intends to participate in the future linkage auctions for its plants located strategically near the coal mines.
At 11:22 AM, the stock was trading 1% higher at Rs 3,720 on the NSE compared to 0.05% decline in the Nifty 50 index. A combined 75,311 shares changed hands on the counter on the NSE and BSE so far.
UltraTech Cement said that it won two coal linkages of 27,600 tons and 19,700 tons from Dipka Mines in Chhattisgarh after participating in the auction of coal linkages for captive power plant sub-sector.
The company said that both the coal linkages were won at a premium of Rs 150 over notified price of Rs 970 per ton.
A formal communication vesting the linkages in the company's favour is expected in due course.
The company said it intends to participate in the future linkage auctions for its plants located strategically near the coal mines.
At 11:22 AM, the stock was trading 1% higher at Rs 3,720 on the NSE compared to 0.05% decline in the Nifty 50 index. A combined 75,311 shares changed hands on the counter on the NSE and BSE so far.