Shiva Cement receives permission for mechanization of mines

Shiva Cement Ltd has announced that the Directorate General, Mines Safety, Govt. of India has sanctioned the permission for a period of five years for deployment of heavy earth moving machinery i.e. mechanization of mines in lieu of on going manual mining under Regulation 106(2)(b).

This will help the Company to increase productivity, reduction in mining cost and shall also facilitate higher production for future expansion.

The stock was trading at Rs.8.90, down by Rs.0.10 or 1.11%. The stock hit an intraday high of Rs.9.09 and low of Rs.8.70. The total traded quantity was 304250 compared to 2 week average of 846803.

Source : Equity Bulls

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