Vedanta is planning to acquire coal mines through auctions as the mining conglomerate seeks to ensure fuel security for its energy guzzling aluminium plants. The company will source overall coal mix from low-cost imports and auctioned coal to optimize the cost in FY 2016-17.
Vedanta Group firm Balco had won Chotia and Gare Palma IV/1 blocks, both in Chhattisgarh in the first tranche of auctions on February 17 and 21 last year, respectively. However, the Gare Palma IV/1 mine for which Balco had emerged as the highest bidder was cancelled and given to Coal India.
| Company Name | CMP |
|---|---|
| Hindalco | 1024.75 |
| Vedanta | 779.25 |
| Hindustan Zinc | 585.65 |
| Jain Resource Recycl | 409.00 |
| Gravita India | 1674.00 |
| View more.. | |
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: