JSW Steel Ltd has been declared as a "Preferred Bidder" vide communication dated February 22, 2020 received from the Director of Mines, Odisha for an Iron Ore mine (Jajang Iron Ore Block of Keonjhar District) in the State of Odisha, in the Auctions held by the State Govt. of Odisha on 6 th February 2020. The projected iron ore resource as on 31.03.2020 in this mine as per tender documents is around 39.40 Million tonnes.
The highest final offer price by the Company to become a "Preferred Bidder" is 110% of average monthly prices of iron ore of different grades and quality published by Indian Bureau of Mines in the State of Odisha from time to time.
The Company will take all requisite steps as per the tender document to obtain Letter of Intent, all statutory clearances, execute Mine Development and Production Agreement (MDPA) and start the mining operations.
Shares of JSW STEEL LTD. was last trading in BSE at Rs.258.8 as compared to the previous close of Rs. 281.7. The total number of shares traded during the day was 600066 in over 5573 trades.
The stock hit an intraday high of Rs. 281 and intraday low of 256. The net turnover during the day was Rs. 160485167.