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Prakash Industries gains on securing long-term coal linkages for Captive Power Plant

Prakash Industries Ltd. | Steel & Iron Products | Metals & Mining | BSE: 506022 | NSE: PRAKASH

13 Jun 2017 Evaluate

Prakash Industries is currently trading at Rs. 91.00, up by 0.70 points or 0.78% from its previous closing of Rs. 90.30 on the BSE.

The scrip opened at Rs. 91.50 and has touched a high and low of Rs. 91.85 and Rs. 90.50 respectively. So far 36160 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 98.10 on 16-May-2017 and a 52 week low of Rs. 33.20 on 24-Jun-2016.

Last one week high and low of the scrip stood at Rs. 94.00 and Rs. 86.60 respectively. The current market cap of the company is Rs. 1352.35 crore.

The promoters holding in the company stood at 44.97%, while institutions and non-institutions held 5.40% and 49.64% respectively.

Prakash Industries has secured additional coal linkages of a total quantity of 5.43 lakh tonnes per annum for the next 5 years in the recent coal linkage auction conducted by Coal India (CIL). The company is going to sign the Fuel supply Agreement (FSA) in the coming weeks and expect the supplies to commence from next month.

So far, the company was meeting its coal requirements from CIL through Spot Auctions, which were expensive by 20% as compared to Linkages. Hence, in pursuit to reduce costs further, the company has now shifted its sourcing to Long Term Linkages. Securing these linkages will provide long terms stability and cost savings in the operations of the company.

With this, the total quantity of coal secured through linkages amounts to 13.00 lakh tonnes per annum, thereby around savings are expected to the tune of over Rs 70 crore per annum.

Prakash Industries is an integrated steel and power company. Its products include coal mines, iron ore mines, sponge iron, power, steel melting shop and ferro alloys.

Prakash Inds. Share Price

143.95 3.10 (2.20%)

17-Apr-2026 16:59 View Price Chart

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Prakash Industries gains on securing long-term coal linkages for Captive Power Plant

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