CESC allotted Mohuagarhi Coal Block in Jharkhand

CESC Ltd has announced that the Ministry of Coal, Government of India, has made joint allocation of Mohuagarhi Coal Block in the State of Jharkhand to the Company for its proposed pithead power station. The Company's share in the total reserve works out to 110 million tonnes. The stock of coal will be utilized for the Company's proposed 1000 MW thermal power station in Dumka District, Jharkhand, for which an MoU has been signed with the Jharkhand Government. The power plant is expected to be operational by 2012 and the power generated will mainly be sold in merchant market.

The stock was trading at Rs.618, up by Rs.47 or 8.23%. The stock hit an intraday high of Rs.622.70 and low of Rs.575.

The total traded quantity was 219773 compared to 2 week average of 72464.

Source : Equity Bulls

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