Sesa Sterlite rose 1.47% to Rs 220.60 at 10:16 IST on BSE after the company's subsidiary Bharat Aluminium Company won the Gare Palma IV/1 coal block in Chhattisgarh for Rs 1,585 per tonne on Saturday, 21 February 2015.
Meanwhile, the S&P BSE Sensex was up 89.64 points or 0.31% at 29,321.05.
On BSE, so far 1.90 lakh shares were traded in the counter as against average daily volume of 5.27 lakh shares in the past one quarter.
The stock hit a high of Rs 222.60 and a low of Rs 218 so far during the day. The stock had hit a 52-week high of Rs 318.40 on 6 June 2014. The stock had hit a 52-week low of Rs 169.55 on 14 March 2014.
The stock had outperformed the market over the past one month till 20 February 2015, surging 6.83% compared with Sensex's 1.55% rise. The scrip had, however, underperformed the market in past one quarter, sliding 7.35% as against Sensex's 4.15% rise.
The large-cap company has equity capital of Rs 296.47 crore. Face value per share is Re 1.
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Sesa Sterlite's subsidiary Bharat Aluminium Company (Balco) won the Gare Palma IV/1 coal block in Chhattisgarh for Rs 1,585 per tonne, according to the results of e-Auction for Schedule II coal mines announced by the Ministry of Coal on Saturday, 21 February 2015. The coal ministry has started auctioning coal blocks after the Supreme Court in September last year cancelled the allocation of more than 200 coal mines allotted between 1993 and 2010 after ruling that they were arbitrary and illegal.
Sesa Sterlite's consolidated net profit fell 15% to Rs 1587.50 crore on 1.5% decline in net sales to Rs 19128.21 crore in Q3 December 2014 over Q3 December 2013.
Sesa Sterlite is one of the world's largest diversified natural resources companies. Its business primarily involves exploring, extracting and processing minerals and oil & gas.
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