Prakash Industries Ltd - Bhaskarpara Commercial Coal Mine Update

Prakash Industries Ltd has made payment of Rs. 23.25 crores to the Forest Department, Distt. Surajpur, Chhattisgarh, towards Net Present Value (NPV) of diverted forest land to be used for its Bhaskarpara Commercial Coal Mine in Chhattisgarh.

The company has already made payment of Rs. 35.12 crores on 26th December, 2023, to the Office of Collector, Janjgir-Champa, Chhattisgarh, towards premium of land to be transferred to Forest Department for Compensatory Afforestation in lieu of forest land with respect to Bhaskarpara Commercial Coal Mine in Chhattisgarh.

Further, the In-principle Stage-I approval under the Forest (Conservation) Act, 1980 and Environmental Clearance (EC) for the said mine is already in place. The development of the said mine is progressing fast and the Mining lease is likely to be executed in this quarter.

Shares of Prakash Industries Limited was last trading in BSE at Rs. 175.45 as compared to the previous close of Rs. 167.10. The total number of shares traded during the day was 44163 in over 290 trades.

The stock hit an intraday high of Rs. 175.45 and intraday low of 165.15. The net turnover during the day was Rs. 7677901.00.

Source : Equity Bulls

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