JSPL issues clarification on Kasia mine auction media report; Stock gains 1%

The company has not commented with respect to winning the mine, as we are yet to receive any communication in this regard from the state government, it said.

Sep 22, 2021 03:09 IST India Infoline News Service

Jindal Steel & Power Limited issued a clarification with respect to the story published on www.economictimes.com, on September 20, 2021, on the Kasia mine auction.

The auction of the Iron ore mines of Odisha took place on September 19, 2021. The company participated in the same and filed a bid for Kasia Iron Ore Mine. On September 20, 2021, during day time, many news portals including Steel Mint and Times of India reported the auction results declaring Jindal Steel & Power Limited, as the winning bidder.

“However, we don’t have any formal communication from the state government regarding the same, as of now,” company said in a filing on Tuesday.

“We received a verbal query from Economic Times after various media reports on the Kasia mine auction results, with regard to the importance of Kasia mines for JSPL, if the company wins the same. In response to the verbal query Kapil Mantri, on behalf of the company, highlighted the importance of the same for JSPL.

The company or Kapil Mantri have not commented with respect to winning the mine, as we are yet to receive any communication in this regard from the state government,” company said.

Further, the story does not attribute any comment to the Company or Kapil Mantri, speaking on behalf of the Company, to the effect that the mine auction has been won by the company, it added.

Towards close of trade on Wednesday, Jindal Steel & Power Ltd was trading at Rs365.95 per piece up by Rs4.2 or 1.16% from its previous closing of Rs361.75 per piece on the BSE.

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