Gare Palma Win To Turnaround Jindal Power’s Operations, Says Motilal Oswal
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Motilal Oswal Report
Jindal Power Ltd., a subsidiary of Jindal Steel and Power Ltd., has been declared the winner of the six million tonne per annum Gare Palma IV/1 coal block by the Ministry of Coal.
This would substitute e-auction coal purchases by Jindal Power, reducing cost by approximately Rs 900/ tonne on volumes of 6mtpa, implying annual savings of Rs 5.5 billion.
It would increase consolidated earning per share by Rs 4.4 per share (14%) and valuation by ~ Rs 27/share (~8%).
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