Prakash Industries Ltd - Bhaskarpara Commercial Coal Mine Update

Prakash Industries Ltd has received Permission to Establish for its Bhaskarpara Commercial Coal Mine in Chhattisgarh from the Chhattisgarh Environment Conservation Board vide its letter dated 18th January, 2024.

As informed earlier, the Company has recently paid Rs. 23.25 crores towards Net Present Value (NPV) of diverted forest land and Rs. 35.12 crores towards premium of land to be transferred to Forest Department 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. 179.30 as compared to the previous close of Rs. 176.95. The total number of shares traded during the day was 31927 in over 324 trades.

The stock hit an intraday high of Rs. 183.60 and intraday low of 175.05. The net turnover during the day was Rs. 5732866.00.

Source : Equity Bulls

Keywords

PrakashIndustries INE603A01013 Bhaskarpara CommercialCoalMine