JSW Steel declared as preferred bidder for 2 mining blocks in Goa; stock gains ~2%

13 Jun 2023 , 12:42 PM

JSW Steel’s share price rose nearly 2% in early trade in Tuesday’s trade after the company was named the preferred bidder for iron ore in two Goa blocks.

At around 12.33 PM, JSW Steel was trading 1.23% higher at Rs 756.50, against the previous close of Rs 747.30 on NSE. The counter touched an intraday high of Rs 760 so far in today’s trade.

The company has been selected as the preferred bidder for two blocks VI- Cudnem-Cormolem Mineral Block, and IX-Surla-Sonshi Mineral Block in North Goa. The company has projected iron ore resources of 9.77 MMT and 65.73 MMT.

The company offered 96.65% of the mineral dispatched value for Block VI- Cudnem-Cormolem Mineral Block and 109.80% of the mineral dispatched value for Block IX-Surla-Sonshi Mineral Block.

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