The e-auction of schedule III blocks, which include the ones that are near commissioning, was due to begin Wednesday. However, it has been deferred owing to litigation in Delhi High Court, said sources.
The government has deferred auction of schedule III coal blocks till next week, sources tell CNBC-TV18.
The e-auction of schedule III blocks, which include the ones that are near commissioning, was due to begin Wednesday. However, it has been deferred owing to litigation in Delhi High Court, said sources.
The Delhi HC is hearing plea of Bhushan Steel and Monnet Ispat against two-stage bidding process.
According to sources, the auctions are likely to begin March 4. Despite deferral, the companies are likely to meet prescribed deadline of April 2.
The Delhi HC will hear the plea on February 27.
Bhushan stock price
On February 24, 2015, Bhushan Steel closed at Rs 88.70, down Rs 1.7, or 1.88 percent. The 52-week high of the share was Rs 470.05 and the 52-week low was Rs 81.60.
The latest book value of the company is Rs 399.50 per share. At current value, the price-to-book value of the company was 0.22.
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