Prakash Industries’ shares saw a notable jump of 3% following the company’s announcement of securing the mining lease for the Bhaskarpara Commercial Coal Mine in Surajpur District, Chhattisgarh.
The Government of Chhattisgarh executed and registered the lease agreement on 22 November 2024, granting the company the right to mine coal for a period of 30 years.
This milestone is a significant development for Prakash Industries as it looks to strengthen its supply chain and lower operational costs. The company is set to begin overburden removal at the mine as early as next month, with coal extraction expected to start in the next quarter.
As of 10:24 am, Prakash Industries shares were trading 3.56% higher at Rs 168.50 on the NSE.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
