Prakash Industries Ltd - Update on Bhaskarpara Commercial Coal Mine in Chhattisgarh

Prakash Industries Ltd has made payment of Rs. 32.62 Crores to the Forest Department towards Non-Forestry use of forest land and Wild-Life Conservation Plan for its Bhaskarpara Commercial Coal Mine in Chhattisgarh.

The Company has already received Permission to Establish from the Chhattisgarh Environment Conservation Board and paid Rs. 23.25 crores towards Net Present Value (NPV) of diverted forest land and Rs. 35.12 crores for compensatory afforestation with respect to Bhaskarpara Commercial Coal Mine.

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. 211.75 as compared to the previous close of Rs. 210.15. The total number of shares traded during the day was 373352 in over 4382 trades.

The stock hit an intraday high of Rs. 220.65 and intraday low of 206.95. The net turnover during the day was Rs. 79786491.00.

Source : Equity Bulls

Keywords

PrakashIndustries INE603A01013 Bhaskarpara CommercialCoalMine Chhattisgarh