Sarda Energy & Minerals surged 5.79% to Rs 437.95 after the company informed that it has been declared the Preferred Bidder for the Gare Palma IV/5 coal mine, located in Raigarh district, Chhattisgarh.
The company will operate the mine on a revenue-sharing model with the state government, set at 25.75%.The mine has G8 (Provisional) grade of coal. The company stated that the necessary agreements will be finalized in the near future.
Sarda Energy & Minerals (SEML) is an energy and minerals company with operational iron ore and coal mines in Chhattisgarh and thermal and hydropower generation plants in different locations across India, with a growing portfolio of assets.
The company has reported 36% jump in consolidated net profit to Rs 203 crore on a 16% increase in revenue from operations to Rs 1,159 crore in Q2 FY25 as compared with Q2 FY24.
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