Indian Metals and Ferro Alloys Ltd updates on provisional compensation order for Utkal C Coal Mines

Indian Metals and Ferro Alloys Ltd (IMFA) had already received a compensation of INR 20.69 Crore towards reimbursement of statutory expenses. The Office of Nominated Authority, Ministry of Coal, Government of India vide its Provisional Compensation Order has determined the valuation of compensation of free hold and lease hold land pertaining to Utkal 'C' Coal Mines at INR 416,70,57,065/- (Rupees four hundred sixteen crore seventy lakh fifty seven thousand sixty five only) payable to Company's subsidiary viz Utkal Coal Limited (UCL). The Successful Allottee has been directed to deposit the amount within 7 days of the receipt of the order in the designated account of Ministry of Coal, Government of India.

The compensation towards valuation of Mine Infrastructure is under progress.

Shares of Indian Metals & Ferro Alloys Limited was last trading in BSE at Rs. 390.35 as compared to the previous close of Rs. 386.85. The total number of shares traded during the day was 23570 in over 1954 trades.

The stock hit an intraday high of Rs. 392.95 and intraday low of 380.00. The net turnover during the day was Rs. 9135941.00.

Source : Equity Bulls

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IndianMetalsandFerroAlloys INE919H01018 IMFA CompensationOrder UtkalCoal CoalMines