J K Cement shares jump on securing bids for coal blocks

J K Cement shares surged after the company secured two bids for coal blocks in the recent commercial coal mine e-auction.

In a regulatory filing, the company reported that it has “been declared as the successful bidder in the e-auction conducted by the nominated authority MC anipur for Mahan coal blocks and West of Shahdol South.”

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Although the bid’s bidding process has been completed, the formal allocation order has yet to be issued, and the signing of the Coal Mine Development and Production Agreement is pending.

In fact, as of 1:53 pm, J K Cement shares was trading 0.65% higher at ₹4,032.45.