Prakash Industries Ltd - Bhaskarpara Commercial Coal Mine Update

Subsequent to the in-principle Stage-I approval under the Forest (Conservation) Act, 1980, the Ministry of Environment, Forest and Climate Change, Government of India has today granted Environmental Clearance (EC) for its Bhaskarpara Commercial Coal Mine in Chhattisgarh.

The development of the said mine is fast in progress and the Mining lease is likely to be executed by the next quarter. The supplies of coal from this mine shall provide stability to the Company's Integrated Steel operations as well as significant cost reductions. Further, this being a commercial mine, it shall also boost the revenue and the profitability through sale of coal in the open market.

Shares of Prakash Industries Limited was last trading in BSE at Rs. 131.00 as compared to the previous close of Rs. 134.95. The total number of shares traded during the day was 81670 in over 1618 trades.

The stock hit an intraday high of Rs. 137.75 and intraday low of 129.50. The net turnover during the day was Rs. 10973068.00.

Source : Equity Bulls

Keywords

PrakashIndustries INE603A01013 Bhaskarpara CommercialCoalMine Update