Monnet Ispat shares end over 9% higher on winning coal block

Shares of Monnet Ispat & Energy today ended the day with over 9 per cent gains after the company bagged one coal block in Chhattisgarh on the last day of the auction yesterday.
After surging 15.96 per cent to Rs 65 in intra-day trade on the BSE, shares of Monnet Ispat finally ended at Rs 60.80, up 8.47 per cent.
At the NSE, the scrip surged 9.22 per cent to settle at Rs 61.
In terms of volume, 14.04 lakh shares of the company changed hands at the BSE and over 48 lakh shares were traded at the NSE during the day.

Monnet Ispat & Energy had yesterday bagged one coal block in Chhattisgarh on the last day of the auction, bringing down curtains on the first phase of coal auctions that will fetch the states over Rs 1 lakh crore.
"Monnet Ispat, highest bidder at Rs 2,619 (per tonne) for Gare Palma IV/7 (coal mine)," Coal Secretary Anil Swarup had tweeted.
The government was successful in selling all the 19 mines in the first lot of auction which began on February 14 and would fetch over Rs 1 lakh crore.