Jindal Steel Up on Hopes Coal Block Bidding May Help Incumbents

10 Dec 2014, 11:12 AM IST

Jindal Steel and Power gained 3.4 per cent on Wednesday. ICICI Securities says it hosted a roadshow for the company in UK.

The company was represented by group CEO Ravi Uppal and head of investor relations D.Balasubramanyam, the broker added.

While acknowledging competition, JSPL expects itself to be favourably disposed under the technical parameters, the note added.

The coal ministry in November unveiled draft rules for auction of 204 coal blocks cancelled by top court earlier.

The process is expected to be complete by March 2015, the broker note said.