Sarda Energy hits record high on securing nod to expand coal production

Sarda Energy hits all-time high: Shares of Sarda Energy and Minerals were in demand on Wednesday, September 25, 2024, as the scrip surged up to 5.96 per cent to hit a fresh all-time high of Rs 467 per share. 

The rally in Sarda Energy share price came after the company announced that it has secured Chhattisgarh Environment Conservation Board nod to expand coal production from 1.44 MTPA to 1.68 MTPA.

In an exchange filing, the company said, “We are pleased to inform that the Chhattisgarh Environment Conservation Board, Raipur has granted to the Company, the Consent to Establish cum Consent to Operate under Water (Prevention and Control of Pollution) Act, 1974 and Air (Prevention and Control of Pollution) Act, 1981, for expansion of production capacity of Gare Palma IV/7 Coal Mine (Karwahi Open Cast Coal Mine) of the Company from 1.44 MTPA to 1.68 MTPA. 

 

Founded in 1973, Sarda Energy & Minerals Limited (SEML) is the flagship entity of the Sarda Group, based in Raipur, Chhattisgarh. SEML specialises in the production of steel, ferro alloys, and power, positioning itself as one of India’s lowest-cost producers in the sector. 

The company has diversified its portfolio to include a range of products such as sponge iron, billets, and eco-friendly bricks, while also engaging in mining and power generation.

In 2007, SEML expanded its capabilities by merging with Chhattisgarh Electricity Company Limited, reinforcing its vision to be a leading player in the energy and minerals industry. 

Over the past three decades, SEML has focused on delivering high-quality, customised products, backed by ethical business practices and a commitment to corporate responsibility. This dedication has made SEML a preferred supplier for over 60 countries worldwide.

SEML is listed on the Bombay Stock Exchange (504614) and the National Stock Exchange of India (SARDAEN). The market capitalisation of Sarda Energy is Rs 16,079.16 crore, according to BSE. 

The company falls under the BSE SmallCap category.

At 11:06 AM, Sarda Energy shares were trading 3 per cent higher at Rs 456.30 per share. In comparison, BSE Sensex was trading 0.03 per cent lower at 84,887.91 levels.