Litigation worries for the government over coal block auctions are mounting. GVK Power has moved the Delhi High Court seeking a stay on the auctions over compensation offered to prior allotees.
Litigation worries for the government over coal block auctions are mounting. GVK Power has moved the Delhi High Court seeking a stay on the auctions over compensation offered to prior allotees.
GVK's plea challenged the provisions of the 2014 coal ordinance on grounds that it was aggrieved at the "arbitrary" determination of compensation for its mining infrastructure, which was much lower than it expected.
GVK claims that this compensation is merely a fraction of the investments made. GVK is claiming Rs 550 crore, while the government has fixed the compensation at Rs 57 crore for its Tokisud block.
GVK Power stock price
On February 02, 2015, GVK Power & Infrastructure closed at Rs 11.14, up Rs 0.54, or 5.09 percent. The 52-week high of the share was Rs 20.85 and the 52-week low was Rs 8.51.
The latest book value of the company is Rs 15.69 per share. At current value, the price-to-book value of the company was 0.71.
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