JPL the highest bidder in Gare Palma IV/1 coal block auction Jindal Power Limited (JPL), subsidiary of Jindal Steel and Power (JSP), emerged as the highest bidder in the auction of the 6mtpa Gare Palma IV/1 coal block at 25% of the coal price based on the National Coal Index. We estimate average savings of ~INR750/t JSP IN on 6mt coal, implying savings of INR4.5b/year. Assigning a 5x EBITDA multiple could...