Sarda Energy share price surged after JV gets license for Iron ore block in Maharashtra :
Sarda Energy‘s share prices surged after the announcement of its joint venture securing a license for an iron ore block in Maharashtra. This development marks a significant step forward for the company, as access to iron ore block enhances its resource base and strengthens its position in the Industry. Maharashtra’s strategic location and rich mineral reserves make this license acquisition a promising opportunity for Sarda Energy and its JV partner.
With this license, Sarda Energy is poised to capitalize on the demand for iron ore, leveraging its expertise and capabilities to drive value creation for stakeholders. The market’s favorable response underscores the significance of this milestone and signals optimism about the company’s future performance in the iron and steel sector.
The news of Surged share prices on BSE :
Sarda Energy’s share price today opened at 204.15 apiece on BSE. Sarda Energy Mineral share price touched an Intraday high of 223.55 and intraday low of 201.40 per share. It seems that the stock is up by 14% with positive Indicators. It seems to be headed further higher in near term possibly reaching 245-260.
Company’s Profit after licensing :
The letter of Intent for a composite license for Surajgad 1 Iron Ore Block in the state of Maharashtra which covers an area of 1526 hectares and contains iron ore, was awarded to Natural Resources Energy Pvt Ltd. in which the company has a 51% economic interest, according to company’s exchange filing.
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