Prakash Industries Ltd starts Mining operations at Bhaskarpara Commercial Coal Mine

After receiving all the required permissions, Prakash Industries Ltd has today received the Permission to Enter into the Bhaskarpara Coal Mine from the Office of the Collector (Mining Branch), District Surajpur, Chhattisgarh for mining of coal.

As such, we are now starting the mining operations immediately and expect the coal extraction to start by the next month. The supplies of coal from the mine shall result in substantial cost reductions and efficiencies in its Integrated Steel Plant operations. This being a commercial mine, the Company will further benefit from sale of coal in the market, thereby resulting in higher profitability.

Shares of Prakash Industries Limited was last trading in BSE at Rs. 174.05 as compared to the previous close of Rs. 168.05. The total number of shares traded during the day was 64215 in over 1030 trades.

The stock hit an intraday high of Rs. 174.50 and intraday low of 167.50. The net turnover during the day was Rs. 11098850.00.

Source : Equity Bulls

Keywords

PrakashIndustries INE603A01013 MiningOperations Bhaskarpara CommercialCoalMine