Shares of Sarda Energy and Minerals jumped 14 per cent to Rs 223.5 per share on the BSE in Friday’s intraday trade after the company’s subsidiary joint venture granted Letter of Intent for Composite Licence by the state government of Maharashtra.
Natural Resources Energy Pvt. Ltd. – a subsidiary Joint Venture company (NREPL), has been awarded the Letter of Intent for Composite Licence for Surjagad 1 Iron Ore Block in the state of Maharashtra for iron ore for an area of 1,526 hectare. The iron and steel company has 51 per cent economic interest in the JV, the company said in an exchange filing.
