Tata Steel, JSW Steel, ACC, JK Cement shares in focus today. Here's why

Shares of Tata Steel Ltd, JSW Steel Ltd, ACC Ltd and JK Cement will be in focus on Wednesday morning as the four steel and cement makers were among 27 companies, which have submitted bids for coal blocks put up for commercial mines auction, as per the government. As per he coal ministry, a total of 27 companies including Rungta Sons Pvt Ltd, JSW Steel Ltd, Tata Steel Ltd submitted their bids in the auction process, ACC Ltd, J K Cement and Thriveni Earthmovers.

Tata group’s Tata Steel has delivered a flattish return in 2024 so far. JSW Steel shares are down 7.4 per cent year-to-date. Adani group stock ACC has rallied 20 per cent this year so far. JK Cement is up 9.87 per cent during the same period.

"The Nominated Authority, Ministry of Coal today opened the bids for the 9th round and second attempt of 7th round of commercial coal mines’ auction. This round was launched on December 20, 2023. The online bids were decrypted and opened electronically in the presence of the bidders. Subsequently, sealed envelopes containing offline bid documents were also opened in the presence of bidders. Entire process was displayed on the screen for the bidders," the co ministry note suggested.

As per the coal ministry, a total of 27 coal mines were put up for auction and 33 bids were received against 13 coal mines. Under the second attempt of the seventh round, a total of five coal mines were put up for auction and seven bids received against three coal mines.

Other bidders in the list included OCL Iron & Steel Ltd, Sunflag Iron & Steel Co Ltd, Mahan Energen Ltd, Orissa Metallurgical Industry Private Ltd and Thriveni Earthmovers Pvt Ltd, among others.

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