Sarda Energy shares witnessed a surge after the company announced its designation as the preferred bidder for the Gare Palma IV/5 coal mine in Raigarh, Chhattisgarh. The award comes on a 25.75% revenue-sharing basis with the state government.
The mine, which is provisionally graded as G8, adds significant value to Sarda Energy’s portfolio. This development is expected to bolster the company’s raw material security and provide a competitive edge in the energy sector.
As of 9:24 am the shares were trading 6.86% higher at ₹442.40 on NSE.
Investors have reacted positively to the news, anticipating long-term benefits for the company due to enhanced coal availability and potential cost optimization in operations.
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