Prakash Industries shares surged by more than 5% following the company’s official commencement of coal extraction from its Bhaskarpara Commercial Coal Mine. This significant milestone marks a key development in the company’s operations, with coal dispatches now being made to its Integrated Steel Plant in Champa, Chhattisgarh.
The new coal supply from Bhaskarpara is expected to yield substantial cost savings for Prakash Industries, improving overall operational efficiencies.
In the exchange filing, the company shared, “The Company is pleased to inform that the coal extraction from its Bhaskarpara Commercial Coal Mine has commenced and the coal despatches to its Integrated Steel plant at Champa (C.G.) have started yesterday. The supplies of coal from the mine shall result in substantial cost reductions and efficiencies in its plant operations.”
Prakash Industries’ stock opened at ₹139.51, reaching a high of ₹147.50 and a low of ₹138.25 on the latest trading day. The 52-week high for the stock is ₹237.00, while its 52-week low stands at ₹128.15, indicating significant volatility.
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