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Last Updated : Dec 11, 2019 11:02 AM IST | Source: Moneycontrol.com

JSPL share price gains 2% after commissioning of coke battery at Angul plant

The coke oven consists of four batteries of 45,000 tonne each and will produce 2 mtpa coke.

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Jindal Steel & Power share price gained more than 2 percent in the morning trade on December 11 after the company commissioned a fourth coke oven battery at its Angul steel plant in Odisha.

The commissioning at Angul plant makes it self-sufficient in coke requirement. The coke oven consists of four batteries of 45,000 tonne each and will produce 2 million tonne per annum (mtpa) coke.

The plant is based on making steel through coal gas-based direct reduced iron and electric arc furnace (EAF) route, using high-ash Indian coal to make syngas for DRI, the company told exchanges.

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The stock has been under pressure after the Supreme Court refused to pass an interim order in the Sarda Mines case. In a setback to the company, the court declined to allow sale or transport of Rs 2,000-crore worth of iron ore claimed by the Delhi-based company.

At 1036 hours, Jindal Steel & Power was quoting at Rs 143.75, up Rs 2.70, or 1.91 percent. It has touched an intraday high of Rs 144.45 and an intraday low of Rs 142.

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First Published on Dec 11, 2019 11:02 am
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