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GVK Power surges on getting environmental clearance for Alpha coal, rail project in Australia

23 Aug 2012 Evaluate

GVK Power and Infrastructure is currently trading at Rs. 12.83, up by 0.29 points or 2.31% from its previous closing of Rs. 12.54 on the BSE.

The scrip opened at Rs. 12.75 and has touched a high and low of Rs. 13.05 and Rs. 12.62 respectively. So far 420440 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 20.40 on 17-Feb-2012 and a 52 week low of Rs. 9.56 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 13.10 and Rs. 12.32 respectively. The current market cap of the company is Rs. 2026.13 crore.

The promoters holding in the company stood at 54.25% while Institutions and Non-Institutions held 21.19% and 24.56% respectively. 

GVK Power and Infrastructure has secured environmental approval for its A$10 billion Alpha coal and rail project in Australia’s Queensland state, with 19 conditions to protect the environment. The Alpha scheme is the front-runner among several projects in the untapped Galilee Basin in Queensland, where rival Indian group Adani Enterprises is planning a A$10.9 billion coal and rail project

Following a rigorous and thorough assessment process by two levels of government spanning four years, Federal Environment Minister Tony Burke gave an approval decision to construct and operate the Alpha Coal Mine and a railway line between the mine and the port at Abbot Point, near Bowen.

GVK acquired 79% stake in the Alpha Coal and Alpha West projects and a 100% stake in Kevin’s Corner project in Queensland from Hankock Prospecting. These projects hold total resources of 8 billion tonnes and a peak capacity of 80 million tonnes per annum. When combined, these projects will create one of the largest coal mining operations in the world.

GVK Power & Infra Share Price

2.86 0.05 (1.78%)
17-Apr-2026 16:59 View Price Chart
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